Memorial Boulevard / Old Beach median real estate price is $1,204,765, which is more expensive than 95.6% of the neighborhoods in Rhode Island and 92.3% of the neighborhoods in the U.S.
The average rental price in Memorial Boulevard / Old Beach is currently $3,599, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 94.0% of the neighborhoods in Rhode Island.
Memorial Boulevard / Old Beach is a suburban neighborhood (based on population density) located in Newport, Rhode Island. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Memorial Boulevard / Old Beach real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Memorial Boulevard / Old Beach 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.
Vacant apartments or homes are a major fact of life in Memorial Boulevard / Old Beach. The current real estate vacancy rate here is 30.7%. This is higher than the rate of vacancies in 95.0% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (19.7%). 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.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Newport, the Memorial Boulevard / Old Beach neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
Memorial Boulevard / Old Beach is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, Memorial Boulevard / Old Beach 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, three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The Memorial Boulevard / Old Beach neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 36.7% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 96.4% of America's neighborhoods.
Furthermore, despite all of the residential real estate here in the Memorial Boulevard / Old Beach neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 30.7%, which is higher than 95.0% of all U.S. neighborhoods.
People
NeighborhoodScout's analysis shows that the Memorial Boulevard / Old Beach neighborhood has a greater concentration of residents currently enrolled in college than 95.3% of the neighborhoods in the U.S. With 11.2% of the population here attending college, this is very much a college-focused neighborhood.
In addition, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 49.0%. This is a higher percent living alone than we found in 95.0% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.
Also, if you are an executive or professional seeking a neighborhood affording an executive lifestyle, or just wanting to find where other executives live in the area, the Memorial Boulevard / Old Beach neighborhood should be on your list. It has an enviable mix of spacious homes, relatively stable real estate values, and residents that include a number of wealthy executives, managers, and professionals. NeighborhoodScout's exclusive analysis places it as one of the top 14.2% executive lifestyle neighborhoods in the state of Rhode Island.
Modes of Transportation
Would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the Memorial Boulevard / Old Beach neighborhood is a fantastic option for bicycle commuters, as 2.6% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 95.0% of the neighborhoods in America.
Diversity
Did you know that the Memorial Boulevard / Old Beach neighborhood has more French and Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 13.3% of this neighborhood's residents have French ancestry and 2.5% have Greek ancestry.
Memorial Boulevard / Old Beach is also pretty special linguistically. Significantly, 2.2% of its residents five years old and above primarily speak Portuguese at home. While this may seem like a small percentage, it is higher than 97.8% of the neighborhoods in America.
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 Memorial Boulevard / Old Beach neighborhood in Newport are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 60.4% of the neighborhoods in America. In addition, 4.2% 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 67.2% of America'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 Memorial Boulevard / Old Beach neighborhood, 64.4% 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 15.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (13.2%), and 7.0% in manufacturing and laborer occupations.
Languages
The most common language spoken in the Memorial Boulevard / Old Beach neighborhood is English, spoken by 95.6% of households. Some people also speak Portuguese (2.2%).
Ethnicity / Ancestry
Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.
In the Memorial Boulevard / Old Beach neighborhood in Newport, RI, residents most commonly identify their ethnicity or ancestry as Irish (24.3%). There are also a number of people of Italian ancestry (16.2%), and residents who report French roots (13.3%), and some of the residents are also of English ancestry (13.1%), along with some German ancestry residents (5.6%), among others.
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 Memorial Boulevard / Old Beach neighborhood spend under 15 minutes commuting one-way to work (42.4% of working residents), one of the shortest commutes across America.
Here most residents (49.6%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (8.6%) and 6.9% of residents also hop out the door and walk to work 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.
