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Real Estate Prices & Overview

The Acre / University of Massachusetts Lowell median real estate price is $399,350, which is less expensive than 85.8% of Massachusetts neighborhoods and 45.3% of all U.S. neighborhoods.

The average rental price in The Acre / University of Massachusetts Lowell is currently $3,329, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 48.8% of Massachusetts neighborhoods.

The Acre / University of Massachusetts Lowell is a densely urban neighborhood (based on population density) located in Lowell, Massachusetts.

The Acre / University of Massachusetts Lowell real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the The Acre / University of Massachusetts Lowell 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 1970 and 1999.

Home and apartment vacancy rates are 7.5% in The Acre / University of Massachusetts Lowell. NeighborhoodScout analysis shows that this rate is lower than 50.7% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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

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 The Acre / University of Massachusetts Lowell 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, 54.9% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 98.9% of America's neighborhoods.

In addition, 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 The Acre / University of Massachusetts Lowell neighborhood is one of the most walkable neighborhoods in America.

People

An extraordinary 22.7% of the residents of the The Acre / University of Massachusetts Lowell neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.

In addition, with a nice mix of college students, safety from crime, and decent walkability, the The Acre / University of Massachusetts Lowell neighborhood rates highly as a college student friendly place to live, and one that college students and their parents may want to consider. NeighborhoodScout's analysis shows that it rates more highly for a good place for college students to live than 87.0% of the neighborhoods in MA. This often also means that the area has certain amenities and services geared towards college students, from undergraduates to graduate students.

Diversity

Did you know that the The Acre / University of Massachusetts Lowell neighborhood has more Brazilian and Dominican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.3% of this neighborhood's residents have Brazilian ancestry and 6.7% have Dominican ancestry.

The Acre / University of Massachusetts Lowell is also pretty special linguistically. Significantly, 9.9% 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 100.0% 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 The Acre / University of Massachusetts Lowell neighborhood in Lowell are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 77.2% of U.S. neighborhoods. With 33.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 84.6% 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 The Acre / University of Massachusetts Lowell neighborhood, 42.5% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 22.1% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (20.7%), and 14.6% 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 The Acre / University of Massachusetts Lowell neighborhood is English, spoken by 59.6% of households. Other important languages spoken here include Spanish, Mon-Khmer (the dominant language of Cambodia), French and Portuguese.

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 The Acre / University of Massachusetts Lowell neighborhood in Lowell, MA, residents most commonly identify their ethnicity or ancestry as Asian (19.7%). There are also a number of people of Sub-Saharan African ancestry (10.0%), and residents who report Puerto Rican roots (9.4%), and some of the residents are also of Irish ancestry (7.3%), along with some Dominican ancestry residents (6.7%), among others. In addition, 31.9% 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 The Acre / University of Massachusetts Lowell neighborhood spend between 15 and 30 minutes commuting one-way to work (39.6% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (64.8%) 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 (14.0%) and 10.3% 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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