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Real Estate Prices & Overview

Colby College median real estate price is $272,763, which is less expensive than 67.1% of Maine neighborhoods and 63.9% of all U.S. neighborhoods.

The average rental price in Colby College is currently $1,493, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 55.9% of Maine neighborhoods.

Colby College is a rural neighborhood (based on population density) located in Waterville, Maine.

Colby College real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and mobile homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Colby College neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Home and apartment vacancy rates are 6.0% in Colby College. NeighborhoodScout analysis shows that this rate is lower than 59.6% 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.

Modes of Transportation

In the Colby College neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 33.9% of residents here. This is a higher proportion of walking commuters than we found in 99.3% of American neighborhoods. Get ready to put on your walking shoes if you move here!

People

An extraordinary 47.1% of the residents of the Colby College 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, the Colby College neighborhood stands out within Maine for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 8.5% of college-friendly places to live in ME.

Length of Commute

Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Residents of the Colby College neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 71.7% of the residents have a commute time from home to work (one way) of less than fifteen minutes. This is a higher proportion of residents enjoying a short trip to work than NeighborhoodScout found in 98.8% of U.S. neighborhoods. Less time commuting means more time for other things in life.

Diversity

Did you know that the Colby College neighborhood has more French Canadian and French ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 8.5% of this neighborhood's residents have French Canadian ancestry and 7.6% have French ancestry.

Colby College is also pretty special linguistically. Significantly, 5.3% of its residents five years old and above primarily speak Chinese at home. While this may seem like a small percentage, it is higher than 95.3% 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. In the Colby College neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.4% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

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 Colby College neighborhood in Waterville are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 84.5% of U.S. neighborhoods. With 20.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 69.2% 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 Colby College neighborhood, 47.3% 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 21.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (18.8%), and 11.8% in manufacturing and laborer 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 Colby College neighborhood is English, spoken by 87.2% of households. Other important languages spoken here include Chinese and Spanish.

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 Colby College neighborhood in Waterville, ME, residents most commonly identify their ethnicity or ancestry as Irish (14.0%). There are also a number of people of English ancestry (13.4%), and residents who report German roots (8.9%), and some of the residents are also of French Canadian ancestry (8.5%), along with some French ancestry residents (7.6%), among others.

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 Colby College neighborhood spend under 15 minutes commuting one-way to work (71.7% of working residents), one of the shortest commutes across America.

Here most residents (47.0%) 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 (33.9%) and 6.0% 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.


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