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Real Estate Prices & Overview

Median real estate price in the Town Center of Lexington is $1,369,476, which is more expensive than 93.4% of the neighborhoods in Massachusetts and 96.5% of the neighborhoods in the U.S.

The average rental price in Lexington Town Center is currently $3,992, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 74.8% of the neighborhoods in Massachusetts.

Lexington Town Center is a suburban neighborhood (based on population density) located in Lexington, Massachusetts.

Real estate in the Town Center of Lexington, MA is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Town Center neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 and the present.

Real estate vacancies in Lexington Town Center are 4.7%, which is lower than one will find in 68.6% of American neighborhoods. Demand for real estate in Lexington Town Center 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

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Lexington, the Town Center neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

Wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Lexington Town Center neighborhood is wealthier than 99.5% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood. As one would expect in a considerably wealthy neighborhood such as this, Lexington Town Center also has one of the lowest ratings of child poverty in the nation.

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 59.8% 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 99.8% 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.

Also, 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 Lexington Town Center neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 99.1% 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 Lexington Town Center neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for families with school-aged children and highly educated executives.

Occupations

Executives, managers and professionals make up 79.2% of the workforce in the Lexington Town Center neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 98.9% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

Real Estate

One way that the Lexington Town Center neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 96.4% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.

Modes of Transportation

In the Lexington Town Center neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 28.0% 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 95.7% 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 Lexington Town Center neighborhood has more Asian and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 29.8% of this neighborhood's residents have Asian ancestry and 1.8% have Eastern European ancestry.

Lexington Town Center is also pretty special linguistically. Significantly, 11.1% 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 98.1% of the neighborhoods in America.

The Neighbors

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 Town Center neighborhood in Lexington 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 99.5% 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 Lexington Town Center neighborhood, 79.2% 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 10.0% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (8.2%), and 2.6% 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 Lexington Town Center neighborhood is English, spoken by 61.5% of households. Other important languages spoken here include Chinese, Langs. of India 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 Town Center neighborhood in Lexington, MA, residents most commonly identify their ethnicity or ancestry as Asian (29.8%). There are also a number of people of Italian ancestry (10.4%), and residents who report English roots (10.2%), and some of the residents are also of Irish ancestry (8.9%), along with some German ancestry residents (6.6%), among others. In addition, 26.7% of the residents of this neighborhood were born in another country.

Getting to Work

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 Lexington Town Center neighborhood spend between 45 minutes and one hour commuting one-way to work (29.7% of working residents), longer and tougher than most commutes in America.

Here most residents (59.0%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (6.0%) . 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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