Downtown New London / Coit median real estate price is $336,804, which is less expensive than 74.7% of Connecticut neighborhoods and 55.3% of all U.S. neighborhoods.
The average rental price in Downtown New London / Coit is currently $1,809, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 91.2% of Connecticut neighborhoods.
Downtown New London / Coit is an urban neighborhood (based on population density) located in New London, Connecticut.
Downtown New London / Coit real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Downtown New London / Coit neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.
Downtown New London / Coit has a 11.0% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 65.7% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
One of the most interesting things about the Downtown New London / Coit neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 61.1% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 99.0% of the neighborhoods in America.
With 3.6% of employed workers living in the Downtown New London / Coit neighborhood active in the military, this neighborhood has the distinction of having a higher proportion of people in the military than 98.1% of American neighborhoods. This is a major shaper of the neighborhood's culture and character.
The Downtown New London / Coit neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 89.3% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
In addition, three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The Downtown New London / Coit neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 40.8% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 97.2% of America's neighborhoods.
Furthermore, 84.8% of the real estate in the Downtown New London / Coit neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Also of note, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 69.7% of the residential real estate in the Downtown New London / Coit neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 98.5% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
More people in Downtown New London / Coit choose to walk to work each day (11.6%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Did you know that the Downtown New London / Coit neighborhood has more Armenian and Portuguese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.8% of this neighborhood's residents have Armenian ancestry and 4.1% have Portuguese ancestry.
Downtown New London / Coit is also pretty special linguistically. Significantly, 1.2% of its residents five years old and above primarily speak Urdu, which is the national language of Pakistan, at home. While this may seem like a small percentage, it is higher than 97.8% of the neighborhoods in America.
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Downtown New London / Coit neighborhood. In the Downtown New London / Coit neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.0% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.
The neighbors in the Downtown New London / Coit neighborhood in New London are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 89.8% of U.S. neighborhoods. With 48.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 93.2% of U.S. neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the Downtown New London / Coit neighborhood, 36.3% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 31.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (16.7%), and 14.0% in manufacturing and laborer occupations.
Languages
The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Downtown New London / Coit neighborhood is English, spoken by 83.4% of households. Other important languages spoken here include Spanish, Italian and French.
Ethnicity / Ancestry
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the Downtown New London / Coit neighborhood in New London, CT, residents most commonly identify their ethnicity or ancestry as Irish (15.9%). There are also a number of people of Puerto Rican ancestry (14.6%), and residents who report English roots (11.1%), and some of the residents are also of German ancestry (10.3%), along with some Italian ancestry residents (10.3%), among others.
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Downtown New London / Coit neighborhood spend under 15 minutes commuting one-way to work (34.2% of working residents), one of the shortest commutes across America.
Here most residents (65.9%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (11.6%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
