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Real Estate Prices & Overview

Downtown Lynn median real estate price is $474,953, which is less expensive than 75.0% of Massachusetts neighborhoods and 39.3% of all U.S. neighborhoods.

The average rental price in Downtown Lynn is currently $2,649, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 67.6% of Massachusetts neighborhoods.

Downtown Lynn is a densely urban neighborhood (based on population density) located in Lynn, Massachusetts. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

Downtown Lynn 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 Downtown Lynn neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built before 1940.

In Downtown Lynn, the current vacancy rate is 2.0%, which is a lower rate of vacancies than 86.2% of all neighborhoods in the U.S. This means that the housing supply in Downtown Lynn is very tight compared to the demand for property here.

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 Lynn, the Downtown Lynn neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

If you like crowded places, then you will probably enjoy the the Downtown Lynn neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 95.9% of neighborhoods in the U.S., with 24,347 people per square mile living here. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The Downtown Lynn neighborhood is among the top 5% of American neighborhoods in terms of walkability. Do you like a coastal setting? If so, this neighborhood may be to your liking. The Downtown Lynn neighborhood is on the ocean, a bay, or inlet. Often such coastal places have amenities and recreational activities on the waterfront that are attractive to residents and visitors alike. In addition to being coastal, Downtown Lynn is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.

In addition, the real estate in the Downtown Lynn 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, 88.2% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 97.9% of American neighborhoods.

Furthermore, the Downtown Lynn 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 90.7% 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.

Also of note, renter-occupied real estate is dominant in the Downtown Lynn neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 84.9%, which is higher than 95.3% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.

People

The Downtown Lynn neighborhood stands out for having an average per capita income lower than 99.2% of the neighborhoods in the United States.

In addition, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 56.9%. This is a higher percent living alone than we found in 98.2% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.

Diversity

Did you know that the Downtown Lynn neighborhood has more Dominican and Ukrainian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 22.8% of this neighborhood's residents have Dominican ancestry and 3.7% have Ukrainian ancestry.

Downtown Lynn is also pretty special linguistically. Significantly, 6.6% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 99.9% of the neighborhoods in America.

Migration / Stability

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 Downtown Lynn neighborhood. What is interesting to note, is that the Downtown Lynn neighborhood has a greater percentage of residents born in another country (51.8%) than are found in 98.0% of all U.S. neighborhoods.

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 Downtown Lynn neighborhood in Lynn are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 99.2% of U.S. neighborhoods. With 48.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 93.3% 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 Downtown Lynn neighborhood, 29.0% of the working population is employed in clerical, assistant, and tech support occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 28.6% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (24.8%), and 17.6% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

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 Downtown Lynn neighborhood is English, spoken by 36.4% of households. Other important languages spoken here include Spanish, Russian, French and African languages.

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 Downtown Lynn neighborhood in Lynn, MA, residents most commonly identify their ethnicity or ancestry as Dominican (22.8%). There are also a number of people of Puerto Rican ancestry (14.1%), and residents who report Sub-Saharan African roots (12.8%), and some of the residents are also of Italian ancestry (6.8%), along with some Irish ancestry residents (5.7%), among others. In addition, 51.8% 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 Downtown Lynn neighborhood spend between 30 and 45 minutes commuting one-way to work (33.3% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (59.7%) 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 (15.1%) and 9.3% of residents also ride the bus 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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