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Real Estate Prices & Overview

Cape Neddick median real estate price is $783,815, which is more expensive than 91.2% of the neighborhoods in Maine and 83.6% of the neighborhoods in the U.S.

The average rental price in Cape Neddick is currently $2,408, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 86.2% of the neighborhoods in Maine.

Cape Neddick is a rural neighborhood (based on population density) located in York, Maine. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

Cape Neddick real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the Cape Neddick neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Vacant apartments or homes are a major fact of life in Cape Neddick. The current real estate vacancy rate here is 53.2%. This is higher than the rate of vacancies in 98.9% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (50.4%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.

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

Do you like a coastal setting? If so, this neighborhood may be to your liking. The Cape Neddick 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, Cape Neddick 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, vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 53.2% of the residential real estate vacant, the Cape Neddick neighborhood claims the distinction of having a higher vacancy rate than 98.9% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.

Modes of Transportation

In the Cape Neddick neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 30.6% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 97.2% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.

People

The Cape Neddick neighborhood is considered a solid choice for executive lifestyles. NeighborhoodScout's analysis ranks it as better than 91.0% of Maine neighborhoods for executive living, based on the wealthy, educated professionals, executives, and managers who choose to reside here, the spacious homes that are prominent features of the real estate in the neighborhood, and the high real estate appreciation rates found here relative to other neighborhoods in the state. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for urban sophisticates.

Diversity

Did you know that the Cape Neddick neighborhood has more Irish and English ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 41.7% of this neighborhood's residents have Irish ancestry and 37.6% have English ancestry.

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 Cape Neddick neighborhood in York are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 71.8% of the neighborhoods in America. In addition, 1.6% 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 76.7% 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 Cape Neddick neighborhood, 54.4% 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 21.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (14.9%), and 9.4% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Cape Neddick neighborhood is English, spoken by 99.4% of households.

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 Cape Neddick neighborhood in York, ME, residents most commonly identify their ethnicity or ancestry as Irish (41.7%). There are also a number of people of English ancestry (37.6%), and residents who report Italian roots (10.5%), and some of the residents are also of French ancestry (7.7%), along with some German ancestry residents (6.5%), among others.

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 Cape Neddick neighborhood spend under 15 minutes commuting one-way to work (50.0% of working residents), one of the shortest commutes across America.

Here most residents (64.1%) drive alone in a private automobile to get to work. 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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