E 5th St / L St median real estate price is $859,544, which is more expensive than 72.0% of the neighborhoods in Massachusetts and 87.7% of the neighborhoods in the U.S.
The average rental price in E 5th St / L St is currently $5,573, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 96.4% of the neighborhoods in Massachusetts.
E 5th St / L St is a densely urban neighborhood (based on population density) located in Boston, Massachusetts.
E 5th St / L St real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the E 5th St / L St 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.
Real estate vacancies in E 5th St / L St are 4.4%, which is lower than one will find in 70.8% of American neighborhoods. Demand for real estate in E 5th St / L St is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.
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.
Real Estate
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 E 5th St / L St 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, 67.5% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 99.6% of America's neighborhoods.
In addition, the E 5th St / L St neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 34,300 persons per square mile in the neighborhood, it is more packed with people than 97.4% of the nation's neighborhoods. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The E 5th St / L St neighborhood is among the top 5% of American neighborhoods in terms of walkability.
Furthermore, 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 64.8% of the residential real estate in the E 5th St / L St neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 97.6% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
People
If you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the E 5th St / L St neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 99.4% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the E 5th St / L St neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for young, single professionals.
In addition, if you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 3.4% of America's neighborhoods are wealthier than the E 5th St / L St neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe.
Modes of Transportation
More people ride the bus in this neighborhood each day to get to work than 98.1% of U.S. neighborhoods.
Also, in the E 5th St / L St neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 30.5% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 97.2% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
Diversity
Did you know that the E 5th St / L St neighborhood has more Irish and Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 44.2% of this neighborhood's residents have Irish ancestry and 3.4% have Greek ancestry.
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 E 5th St / L St neighborhood in Boston are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 96.6% of the neighborhoods in America. In addition, 9.1% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 52.9% of America's neighborhoods.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the E 5th St / L St neighborhood, 69.0% 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 10.9% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (10.6%), and 9.4% in clerical, assistant, and tech support 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 E 5th St / L St neighborhood is English, spoken by 97.0% of households. Other important languages spoken here include Polish and Spanish.
Ethnicity / Ancestry
Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.
In the E 5th St / L St neighborhood in Boston, MA, residents most commonly identify their ethnicity or ancestry as Irish (44.2%). There are also a number of people of Italian ancestry (14.2%), and residents who report English roots (9.9%), and some of the residents are also of German ancestry (6.2%), along with some Scottish ancestry residents (5.2%), 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 E 5th St / L St neighborhood spend between 15 and 30 minutes commuting one-way to work (42.2% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (38.7%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (17.6%) and 6.6% of residents also carpool with coworkers, friends, or neighbors for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
