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Real Estate Prices & Overview

Broadway median real estate price is $664,029, which is more expensive than 48.7% of the neighborhoods in Massachusetts and 78.4% of the neighborhoods in the U.S.

The average rental price in Broadway is currently $3,576, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 40.3% of Massachusetts neighborhoods.

Broadway is a densely urban neighborhood (based on population density) located in Chelsea, Massachusetts.

Broadway real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the Broadway 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 2000 and the present.

Real estate vacancies in Broadway are 3.7%, which is lower than one will find in 75.4% of American neighborhoods. Demand for real estate in Broadway 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.

Notable & Unique Neighborhood Characteristics

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.

Real Estate

The Broadway neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 43,936 persons per square mile in the neighborhood, it is more packed with people than 98.1% of the nation's neighborhoods. 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 Broadway neighborhood is one of the most walkable neighborhoods in America.

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 Broadway 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, 51.0% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 98.5% of America's neighborhoods.

Furthermore, 84.6% of the real estate in the Broadway neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

Also of note, 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 Broadway neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 57.7% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 95.9% of the neighborhoods in the United States.

Occupations

From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the Broadway neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 97.1% of all American neighborhoods.

Modes of Transportation

More people ride the bus in this neighborhood each day to get to work than 96.8% of U.S. neighborhoods.

Also, more people in Broadway choose to walk to work each day (11.5%) 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.

Diversity

Did you know that the Broadway neighborhood has more Dominican and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 11.8% of this neighborhood's residents have Dominican ancestry and 12.9% have Puerto Rican ancestry.

Broadway is also pretty special linguistically. Significantly, 1.3% of its residents five years old and above primarily speak Mon-Khmer, which is the dominant language of Cambodia, at home. While this may seem like a small percentage, it is higher than 99.1% of the neighborhoods in America.

Migration / Stability

The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. What is interesting to note, is that the Broadway neighborhood has a greater percentage of residents born in another country (52.6%) than are found in 98.2% of all U.S. neighborhoods.

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 Broadway neighborhood in Chelsea are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 40.1% of the neighborhoods in America. With 27.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 78.2% 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 Broadway neighborhood, 41.1% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 28.2% of the residents employed. Other residents here are employed in executive, management, and professional occupations (21.2%), and 8.8% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Broadway neighborhood is Spanish, spoken by 67.8% of households. Some people also speak English (25.4%).

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 Broadway neighborhood in Chelsea, MA, residents most commonly identify their ethnicity or ancestry as Puerto Rican (12.9%). There are also a number of people of Dominican ancestry (11.8%), and residents who report South American roots (3.2%), and some of the residents are also of Sub-Saharan African ancestry (2.4%), along with some Italian ancestry residents (2.3%), among others. In addition, 52.6% 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 Broadway neighborhood spend between 45 minutes and one hour commuting one-way to work (32.5% of working residents), longer and tougher than most commutes in America.

Here most residents (48.0%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (13.6%) and 11.5% of residents also hop out the door and walk to work 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.


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