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Real Estate Prices & Overview

Harvard Square / Harvard University median real estate price is $1,659,951, which is more expensive than 94.1% of the neighborhoods in Massachusetts and 96.9% of the neighborhoods in the U.S.

The average rental price in Harvard Square / Harvard University is currently $4,493, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 86.1% of the neighborhoods in Massachusetts.

Harvard Square / Harvard University is a densely urban neighborhood (based on population density) located in Cambridge, Massachusetts.

Harvard Square / Harvard University 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 Harvard Square / Harvard University 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.

Harvard Square / Harvard University has a 14.6% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 77.0% 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.

Notable & Unique Neighborhood Characteristics

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.

People

In a nation where 1 out of every 4 children lives in poverty, the Harvard Square / Harvard University neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 54.6% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 99.6% of U.S. neighborhoods, where the average American neighborhood has 13.4% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.

Modes of Transportation

More people in Harvard Square / Harvard University choose to walk to work each day (33.1%) 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, would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the Harvard Square / Harvard University neighborhood is a fantastic option for bicycle commuters, as 7.2% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 99.1% of the neighborhoods in America.

Finally, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 12.5% of the Harvard Square / Harvard University neighborhood's commuters ride the train to and from work each day, which is more than we found in 95.8% of America's neighborhoods.

Real Estate

If you like crowded places, then you will probably enjoy the the Harvard Square / Harvard University neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.5% of neighborhoods in the U.S., with 27,225 people per square mile living here. Being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the Harvard Square / Harvard University neighborhood is one of the most walkable neighborhoods in America.

In addition, 86.8% of the real estate in the Harvard Square / Harvard University neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

Furthermore, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Harvard Square / Harvard University neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 71.9% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 98.9% of the neighborhoods in the United States.

Car Ownership

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 Harvard Square / Harvard University neighborhood have a highly unusual car ownership. 33.4% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.5% of U.S. neighborhoods.

Occupations

Executives, managers and professionals make up 72.2% of the workforce in the Harvard Square / Harvard University neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 96.6% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

Migration / Stability

Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. In the Harvard Square / Harvard University neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.8% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

Diversity

Did you know that the Harvard Square / Harvard University neighborhood has more Armenian and Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 0.7% of this neighborhood's residents have Armenian ancestry and 1.9% have Greek ancestry.

Harvard Square / Harvard University is also pretty special linguistically. Significantly, 7.0% 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 96.6% of the neighborhoods in America.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Harvard Square / Harvard University neighborhood in Cambridge are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 72.1% of the neighborhoods in America. In addition, 0.0% 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 100.0% of America'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 Harvard Square / Harvard University neighborhood, 72.2% 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 15.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (7.0%), and 4.9% 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 Harvard Square / Harvard University neighborhood is English, spoken by 66.5% of households. Other important languages spoken here include Spanish, Chinese, Korean and Vietnamese.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Harvard Square / Harvard University neighborhood in Cambridge, MA, residents most commonly identify their ethnicity or ancestry as Asian (23.2%). There are also a number of people of German ancestry (8.1%), and residents who report English roots (7.7%), and some of the residents are also of Irish ancestry (5.4%), along with some Italian ancestry residents (4.7%), among others. In addition, 27.0% of the residents of this neighborhood were born in another country.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Harvard Square / Harvard University neighborhood spend under 15 minutes commuting one-way to work (35.2% of working residents), one of the shortest commutes across America.

Here most residents (33.1%) 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 (16.7%) and 12.5% of residents also take the train for their daily commute. 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.


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