Downtown New London / Coit median real estate price is $229,229, which is less expensive than 93.4% of Connecticut neighborhoods and 75.3% of all U.S. neighborhoods.
The average rental price in Downtown New London / Coit is currently $1,768, based on Ä¢¹½ÊÓƵ's exclusive analysis. Rents here are currently lower in price than 88.0% of Connecticut neighborhoods.
Downtown New London / Coit is an urban neighborhood (based on population density) located in New London, Connecticut.
Downtown New London / Coit 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 Downtown New London / Coit 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.
Real estate vacancies in Downtown New London / Coit are 5.4%, which is lower than one will find in 62.7% of American neighborhoods. Demand for real estate in Downtown New London / Coit is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.
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 New London, the Downtown New London / Coit neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
The types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. Ä¢¹½ÊÓƵ's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 62.4%. This is a higher percent living alone than we found in 99.1% 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, the Downtown New London / Coit neighborhood has a greater percentage of children living in poverty (63.3%) than found in 97.6% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.
The Downtown New London / Coit 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 90.0% 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.
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 Downtown New London / Coit 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, 40.8% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 97.2% of America's neighborhoods.
Furthermore, renter-occupied real estate is dominant in the Downtown New London / Coit neighborhood. The percentage of rental real estate here, according to exclusive Ä¢¹½ÊÓƵ analysis, is 86.8%, which is higher than 95.9% 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.
Also of note, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Downtown New London / Coit neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 72.0% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 98.9% of the neighborhoods in the United States.
With 2.5% of employed workers living in the Downtown New London / Coit neighborhood active in the military, this neighborhood has the distinction of having a higher proportion of people in the military than 96.9% of American neighborhoods. This is a major shaper of the neighborhood's culture and character.
More people in Downtown New London / Coit choose to walk to work each day (10.5%) 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.
Did you know that the Downtown New London / Coit neighborhood has more Puerto Rican and Portuguese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 23.3% of this neighborhood's residents have Puerto Rican ancestry and 4.6% have Portuguese ancestry.
Downtown New London / Coit is also pretty special linguistically. Significantly, 5.6% of its residents five years old and above primarily speak French at home. While this may seem like a small percentage, it is higher than 97.9% 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. Ä¢¹½ÊÓƵ's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the Downtown New London / Coit neighborhood in New London are low income, making it among the lowest income neighborhoods in America. Ä¢¹½ÊÓƵ's research shows that this neighborhood has an income lower than 94.6% of U.S. neighborhoods. With 63.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 97.6% 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 Downtown New London / Coit neighborhood, 40.3% 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 24.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (24.6%), and 8.5% 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 Downtown New London / Coit neighborhood is English, spoken by 69.1% of households. Other important languages spoken here include Spanish, Italian and French.
Ethnicity / Ancestry
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the Downtown New London / Coit neighborhood in New London, CT, residents most commonly identify their ethnicity or ancestry as Puerto Rican (23.3%). There are also a number of people of Irish ancestry (11.9%), and residents who report Italian roots (10.7%), and some of the residents are also of Dominican ancestry (6.2%), along with some German ancestry residents (5.3%), among others. In addition, 13.3% of the residents of this neighborhood were born in another country.
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 Downtown New London / Coit neighborhood spend under 15 minutes commuting one-way to work (37.6% of working residents), one of the shortest commutes across America.
Here most residents (69.4%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (10.5%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
