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Real Estate Prices & Overview

Eastern Avenue / Chatham Street median real estate price is $611,462, which is more expensive than 45.1% of the neighborhoods in Massachusetts and 76.4% of the neighborhoods in the U.S.

The average rental price in Eastern Avenue / Chatham Street is currently $3,502, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 63.5% of the neighborhoods in Massachusetts.

Eastern Avenue / Chatham Street is a densely urban neighborhood (based on population density) located in Lynn, Massachusetts.

Eastern Avenue / Chatham Street real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Eastern Avenue / Chatham Street 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.

Real estate vacancies in Eastern Avenue / Chatham Street are 4.2%, which is lower than one will find in 72.1% of American neighborhoods. Demand for real estate in Eastern Avenue / Chatham Street 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

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

Real Estate

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 Eastern Avenue / Chatham Street neighborhood is one of the most walkable neighborhoods in America.

In addition, corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the Eastern Avenue / Chatham Street neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 40.5% of the real estate here is made up of such dwellings, which is higher than 97.2% of all U.S. neighborhoods.

Furthermore, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 72.6% of the residential real estate in the Eastern Avenue / Chatham Street neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 99.0% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Modes of Transportation

Our research shows that more people carpool to work here in the Eastern Avenue / Chatham Street (25.4%) than in 97.3% of the neighborhoods in America.

Diversity

Did you know that the Eastern Avenue / Chatham Street neighborhood has more Dominican and Portuguese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 14.9% of this neighborhood's residents have Dominican ancestry and 2.5% have Portuguese ancestry.

Eastern Avenue / Chatham Street is also pretty special linguistically. Significantly, 2.7% 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 99.7% 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 Eastern Avenue / Chatham Street neighborhood in Lynn are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 69.3% of the neighborhoods in America. With 13.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 57.2% 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 Eastern Avenue / Chatham Street neighborhood, 34.9% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 31.3% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (17.9%), and 15.8% 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 Eastern Avenue / Chatham Street neighborhood is English, spoken by 44.9% of households. Other important languages spoken here include Spanish, French, Mon-Khmer (the dominant language of Cambodia) 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 Eastern Avenue / Chatham Street neighborhood in Lynn, MA, residents most commonly identify their ethnicity or ancestry as Dominican (14.9%). There are also a number of people of Irish ancestry (9.6%), and residents who report Asian roots (9.5%), and some of the residents are also of Italian ancestry (5.1%), along with some English ancestry residents (3.2%), among others. In addition, 38.0% 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 Eastern Avenue / Chatham Street neighborhood spend between 15 and 30 minutes commuting one-way to work (32.1% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (57.2%) 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 (25.4%) 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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