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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

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

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. 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 Downtown Lynn neighborhood is one of the most walkable neighborhoods in America. 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, one of the really unique and interesting things about the look and setting of the Downtown Lynn neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 88.2% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 97.9% of all neighborhoods in America.

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

One of the unique characteristics of the Downtown Lynn neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 99.2% of the neighborhoods in America.

In addition, one of the most interesting things about the Downtown Lynn neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 56.9% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 98.2% of the neighborhoods in America.

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

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 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.

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 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

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 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

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 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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