Riverside median real estate price is $2,394,046, which is more expensive than 98.4% of the neighborhoods in Massachusetts and 98.8% of the neighborhoods in the U.S.
The average rental price in Riverside is currently $5,191, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 94.6% of the neighborhoods in Massachusetts.
Riverside is a densely urban neighborhood (based on population density) located in Cambridge, Massachusetts.
Riverside real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Riverside neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 and the present.
Vacant apartments or homes are a major fact of life in Riverside. The current real estate vacancy rate here is 16.2%. This is higher than the rate of vacancies in 81.7% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, 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 Cambridge, the Riverside neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
More people in Riverside choose to walk to work each day (40.7%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Also, in the Riverside 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 95.1% 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.
Some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 53.9% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 99.5% of U.S. neighborhoods, where the average American neighborhood has 13.7% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.
In addition, one of the really interesting characteristics about the Riverside neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 3.8% of college-friendly places to live in the state of Massachusetts. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for young, single professionals.
Renter-occupied real estate is dominant in the Riverside neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 97.5%, which is higher than 98.6% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.
In addition, the Riverside neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 49,197 persons per square mile in the neighborhood, it is more packed with people than 98.4% of the nation's neighborhoods. 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 Riverside neighborhood is one of the most walkable neighborhoods in America.
We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Riverside neighborhood has a highly unusual pattern of car ownership. 45.2% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.4% of U.S. neighborhoods.
Executives, managers and professionals make up 75.7% of the workforce in the Riverside neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 97.7% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Did you know that the Riverside neighborhood has more Eastern European and Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.7% of this neighborhood's residents have Eastern European ancestry and 4.4% have Arab ancestry.
Riverside is also pretty special linguistically. Significantly, 13.0% 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 98.4% of the neighborhoods in America.
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Riverside neighborhood. In the Riverside neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 96.9% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 Riverside neighborhood in Cambridge are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 42.4% of the neighborhoods in America. With 13.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 57.5% of U.S. neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the Riverside neighborhood, 75.7% 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 10.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.9%), and 3.9% 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 Riverside neighborhood is English, spoken by 54.1% of households. Other important languages spoken here include Chinese, Spanish, Arabic and Korean.
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 Riverside neighborhood in Cambridge, MA, residents most commonly identify their ethnicity or ancestry as Asian (29.4%). There are also a number of people of German ancestry (6.5%), and residents who report Irish roots (5.5%), and some of the residents are also of English ancestry (4.7%), along with some Arab ancestry residents (4.4%), among others. In addition, 33.1% of the residents of this neighborhood were born in another country.
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 Riverside neighborhood spend between 15 and 30 minutes commuting one-way to work (41.6% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (40.7%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (13.6%) and 6.7% of residents also take the train for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
