Area 2 MIT / Massachusetts Institute of Technology median real estate price is $1,619,996, which is more expensive than 92.9% of the neighborhoods in Massachusetts and 96.3% of the neighborhoods in the U.S.
The average rental price in Area 2 MIT / Massachusetts Institute of Technology is currently $5,975, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 98.1% of the neighborhoods in Massachusetts.
Area 2 MIT / Massachusetts Institute of Technology is a densely urban neighborhood (based on population density) located in Cambridge, Massachusetts.
Area 2 MIT / Massachusetts Institute of Technology 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 single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Area 2 MIT / Massachusetts Institute of Technology neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1940 and 1969.
Home and apartment vacancy rates are 6.6% in Area 2 MIT / Massachusetts Institute of Technology. NeighborhoodScout analysis shows that this rate is lower than 55.2% of the neighborhoods in the nation, approximately near the middle range for vacancies.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
The rate of college educated adults in the Area 2 MIT / Massachusetts Institute of Technology neighborhood is a unique characteristic of the neighborhood. 98.4% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 35.0% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 100.0% of all U.S. neighborhoods.
In addition, one of the really interesting characteristics about the Area 2 MIT / Massachusetts Institute of Technology neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 0.9% of college-friendly places to live in the state of Massachusetts.
More people in Area 2 MIT / Massachusetts Institute of Technology choose to walk to work each day (61.1%) 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.
Also, if your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 3.9% of residents in the Area 2 MIT / Massachusetts Institute of Technology neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 97.2% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.
Executives, managers and professionals make up 82.7% of the workforce in the Area 2 MIT / Massachusetts Institute of Technology neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 99.4% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
100.0% of the real estate in the Area 2 MIT / Massachusetts Institute of Technology neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
In addition, the real estate in the Area 2 MIT / Massachusetts Institute of Technology neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 95.9% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.2% of American neighborhoods.
Furthermore, the Area 2 MIT / Massachusetts Institute of Technology 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 94.3% 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.
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Area 2 MIT / Massachusetts Institute of Technology neighborhood have a highly unusual car ownership. 51.1% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.8% of U.S. neighborhoods.
Did you know that the Area 2 MIT / Massachusetts Institute of Technology neighborhood has more Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 38.7% of this neighborhood's residents have Asian ancestry.
Area 2 MIT / Massachusetts Institute of Technology is also pretty special linguistically. Significantly, 16.8% of its residents five years old and above primarily speak Chinese at home. While this may seem like a small percentage, it is higher than 99.0% 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 Area 2 MIT / Massachusetts Institute of Technology neighborhood. In the Area 2 MIT / Massachusetts Institute of Technology neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.1% 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 Area 2 MIT / Massachusetts Institute of Technology neighborhood in Cambridge are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 54.6% of the neighborhoods in America. With 24.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 75.8% of U.S. neighborhoods.
The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.
In the Area 2 MIT / Massachusetts Institute of Technology neighborhood, 82.7% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 8.2% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (7.9%).
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 Area 2 MIT / Massachusetts Institute of Technology neighborhood is English, spoken by 50.4% of households. Other important languages spoken here include Chinese, Spanish, Langs. of India and Korean.
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 Area 2 MIT / Massachusetts Institute of Technology neighborhood in Cambridge, MA, residents most commonly identify their ethnicity or ancestry as Asian (38.7%). There are also a number of people of German ancestry (3.5%), and residents who report Irish roots (3.4%), and some of the residents are also of Italian ancestry (3.1%), along with some South American ancestry residents (3.1%), among others. In addition, 29.8% of the residents of this neighborhood were born in another country.
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 Area 2 MIT / Massachusetts Institute of Technology neighborhood spend under 15 minutes commuting one-way to work (48.3% of working residents), one of the shortest commutes across America.
Here most residents (61.1%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (6.1%) . This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
