Riverside median real estate price is $2,309,428, which is more expensive than 96.7% of the neighborhoods in Massachusetts and 98.1% of the neighborhoods in the U.S.
The average rental price in Riverside is currently $5,554, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 94.9% 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.
Riverside has a 16.0% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 80.0% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
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.
People
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 55.7% 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 99.6% of U.S. neighborhoods, where the average American neighborhood has 13.4% 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, the Riverside neighborhood stands out within Massachusetts 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 7.3% of college-friendly places to live in MA. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for young, single professionals.
Modes of Transportation
More people in Riverside choose to walk to work each day (39.7%) 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, a unique way of commuting is simply not to. And in the Riverside neighborhood, analysis shows that 29.8% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 96.8% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
Car Ownership
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Riverside neighborhood have a highly unusual car ownership. 47.2% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.6% of U.S. neighborhoods.
Real Estate
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.
In addition, renter-occupied real estate is dominant in the Riverside neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 95.5%, which is higher than 98.1% 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.
Occupations
Executives, managers and professionals make up 76.2% 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 98.1% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Migration / Stability
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 97.3% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Diversity
Did you know that the Riverside neighborhood has more Eastern European and Brazilian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.0% of this neighborhood's residents have Eastern European ancestry and 1.0% have Brazilian ancestry.
Riverside is also pretty special linguistically. Significantly, 13.6% 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 98.6% of the neighborhoods in America.
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 41.6% of the neighborhoods in America. With 14.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 58.2% 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 Riverside neighborhood, 76.2% 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 12.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (8.3%), and 3.6% 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 55.7% of households. Other important languages spoken here include Chinese, Spanish, Korean and Arabic.
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 Riverside neighborhood in Cambridge, MA, residents most commonly identify their ethnicity or ancestry as Asian (27.1%). There are also a number of people of German ancestry (6.4%), and residents who report Irish roots (4.7%), and some of the residents are also of Italian ancestry (4.4%), along with some English ancestry residents (3.6%), among others. In addition, 35.0% 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 (38.8% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (39.7%) 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 (14.9%) and 6.4% 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.
