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Real Estate Prices & Overview

Faneuil median real estate price is $1,089,025, which is more expensive than 83.6% of the neighborhoods in Massachusetts and 92.2% of the neighborhoods in the U.S.

The average rental price in Faneuil is currently $5,380, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 93.3% of the neighborhoods in Massachusetts.

Faneuil is a densely urban neighborhood (based on population density) located in Boston, Massachusetts.

Faneuil real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) small apartment buildings and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Faneuil 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.

In Faneuil, the current vacancy rate is 2.7%, which is a lower rate of vacancies than 82.3% of all neighborhoods in the U.S. This means that the housing supply in Faneuil is very tight compared to the demand for property here.

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

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 Faneuil 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 62.8% of the real estate here is made up of such dwellings, which is higher than 99.4% of all U.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 Faneuil neighborhood is one of the most walkable neighborhoods in America.

Modes of Transportation

Our research revealed that more commuters here take the bus to work (18.6% ride the bus) than 98.3% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.

People

If you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Faneuil neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 96.2% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Faneuil neighborhood.

Diversity

Did you know that the Faneuil neighborhood has more Arab and Brazilian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 8.4% of this neighborhood's residents have Arab ancestry and 1.5% have Brazilian ancestry.

Faneuil is also pretty special linguistically. Significantly, 7.4% of its residents five years old and above primarily speak Arabic at home. While this may seem like a small percentage, it is higher than 99.2% of the neighborhoods in America.

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 Faneuil neighborhood in Boston are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 82.4% of the neighborhoods in America. With 34.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 84.8% 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 Faneuil neighborhood, 60.8% 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 20.0% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (10.4%), and 8.9% 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 Faneuil neighborhood is English, spoken by 63.9% of households. Other important languages spoken here include Arabic, Spanish, French 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 Faneuil neighborhood in Boston, MA, residents most commonly identify their ethnicity or ancestry as Irish (14.4%). There are also a number of people of Arab ancestry (8.4%), and residents who report Italian roots (6.8%), and some of the residents are also of Asian ancestry (6.6%), along with some English ancestry residents (4.8%), among others. In addition, 28.8% 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 Faneuil neighborhood spend between 30 and 45 minutes commuting one-way to work (36.8% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (54.5%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (18.6%) 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.


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