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Real Estate Prices & Overview

Proctor North median real estate price is $532,893, which is less expensive than 71.4% of Massachusetts neighborhoods and 31.6% of all U.S. neighborhoods.

The average rental price in Proctor North is currently $5,971, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 96.9% of the neighborhoods in Massachusetts.

Proctor North is a suburban neighborhood (based on population density) located in Peabody, Massachusetts.

Proctor North 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 single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Proctor North neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

In Proctor North, the current vacancy rate is 3.0%, which is a lower rate of vacancies than 80.4% of all neighborhoods in the U.S. This means that the housing supply in Proctor North is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

People

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: 64.0%. This is a higher percent living alone than we found in 99.3% 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.

In addition, if you are planning to retire in Massachusetts, this neighborhood should be on your must-see list. For many reasons, Proctor North may be considered a retiree's dream neighborhood. According to NeighborhoodScout's exclusive analysis and metrics, it's peaceful and quiet, has above average safety from crime compared to other neighborhoods in Massachusetts, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood more retiree-friendly than 95.7% of neighborhoods in MA. If a Massachusetts retirement is in your future, this neighborhood should be one of the places you visit.

Real Estate

One of the really unique and interesting things about the look and setting of the Proctor North neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 86.6% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 97.7% of all neighborhoods in America.

In addition, the Proctor North neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 87.9% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

Diversity

Did you know that the Proctor North neighborhood has more Austrian and Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.1% of this neighborhood's residents have Austrian ancestry and 6.0% have Greek ancestry.

Proctor North is also pretty special linguistically. Significantly, 1.6% of its residents five years old and above primarily speak Mon-Khmer, which is the dominant language of Cambodia, at home. While this may seem like a small percentage, it is higher than 99.3% of the neighborhoods in America.

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 Proctor North neighborhood in Peabody are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 70.2% of U.S. neighborhoods. In addition, 6.1% 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 61.2% of America'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 Proctor North neighborhood, 44.7% 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 26.4% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (16.5%), and 12.5% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Proctor North neighborhood is English, spoken by 90.1% of households. Some people also speak German/Yiddish (3.2%).

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 Proctor North neighborhood in Peabody, MA, residents most commonly identify their ethnicity or ancestry as English (17.8%). There are also a number of people of Irish ancestry (13.7%), and residents who report Italian roots (9.5%), and some of the residents are also of Greek ancestry (6.0%), along with some German ancestry residents (5.8%), among others. In addition, 10.2% of the residents of this neighborhood were born in another country.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Proctor North neighborhood spend between 15 and 30 minutes commuting one-way to work (47.7% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (72.0%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (19.8%) . 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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