Broadway median real estate price is $775,119, which is more expensive than 86.1% of the neighborhoods in Rhode Island and 82.9% of the neighborhoods in the U.S.
The average rental price in Broadway is currently $3,344, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 83.4% of the neighborhoods in Rhode Island.
Broadway is a densely urban neighborhood (based on population density) located in Newport, Rhode Island.
Broadway 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 occupied by a mixture of owners and renters. 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 1940 and 1969.
Vacant apartments or homes are a major fact of life in Broadway. The current real estate vacancy rate here is 16.0%. This is higher than the rate of vacancies in 80.2% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.
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 Newport, the Broadway neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
In a nation where 1 out of every 4 children lives in poverty, the Broadway neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
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, 47.1% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 98.1% 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 Broadway neighborhood is one of the most walkable neighborhoods 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 Broadway neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 81.0% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 99.7% of the neighborhoods in the United States.
More people in Broadway choose to walk to work each day (16.7%) 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.
With 2.2% of employed workers living in the Broadway neighborhood active in the military, this neighborhood has the distinction of having a higher proportion of people in the military than 96.6% of American neighborhoods. This is a major shaper of the neighborhood's culture and character.
Did you know that the Broadway neighborhood has more Portuguese and Irish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.8% of this neighborhood's residents have Portuguese ancestry and 21.6% have Irish ancestry.
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 Broadway neighborhood in Newport are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 63.8% 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.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the Broadway neighborhood, 38.3% 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 32.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (22.8%), and 5.3% in manufacturing and laborer occupations.
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 Broadway neighborhood is English, spoken by 92.3% of households. Other important languages spoken here include Polish and Spanish.
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 Broadway neighborhood in Newport, RI, residents most commonly identify their ethnicity or ancestry as Irish (21.6%). There are also a number of people of English ancestry (15.6%), and residents who report German roots (10.1%), and some of the residents are also of Puerto Rican ancestry (7.2%), along with some Portuguese ancestry residents (6.8%), among others.
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 under 15 minutes commuting one-way to work (51.5% of working residents), one of the shortest commutes across America.
Here most residents (58.2%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (16.7%) and 12.2% of residents also carpool with coworkers, friends, or neighbors 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.