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Real Estate News: Cambridge Housing Statistics

Weeks Bridge and dorm towers of Harvard University seen across the Charles in Cambridge, MA, USA on a beautiful fall day in November 2013.

Cambridges market is growing stronger, further contributing to the strength of Greater Bostons market as a whole. The Cambridge Community Development Department recently released its 2016 Neighborhood Statistical Profile for the City of Cambridge, revealing high numbers that prove to fulfill high expectations for this year. The report highlights the incredible prosperity and longevity of this Boston Metropolitan city.

The department drew most of its data from the surveys and censuses done by the U.S. Census Bureau, as well as other various private and public data, in order to paint a picture of the ongoing growth of the city, as well as the 13 different neighborhoods it encompasses. With a focus on individual residents and the overall prosperity of each community, these statistics provide a detailed breakdown of the exact state Cambridge finds itself in today - and the sun is certainly shining north of The Charles.

The most basic statistics show a near even breakdown of men and women in the area, with females just edging out their male counterparts 51.4 to 48.6. However, it seems that nearly half of men and women prefer to keep their distance, seeing as 40.7% of residents choose to live alone - though they can still enjoy their youthful surroundings - with 28.7% of neighbors between the ages of 25 and 34, and 20.8% between 18-24. Despite the notable dominance of youngsters in the area, Cambridge boasts an impressive education record on its resume, with 29.5% of residents holding a Bachelors degree, and a staggering 45.2% holding both a Bachelors and Graduate degree.

Perhaps these statistics can explain the next set, which show a sharp increase of wealth in the area. According to the CCDD, the overall city of Cambridge has shown a whopping 53% increase in median household income since 1979, adjusted in 2014 dollars, with every single neighborhood reporting a positive increase. East Cambridge area and The Port boast the highest percent increase, with 117.8% and 103.0% respectively. The number of persons and families in poverty has also decreased overall between 1979 and 2014, with numbers going down in nearly every neighborhood.

Perhaps its all of the incredible universities within a stones throw, or the thriving technology industry, or maybe its just something in the Cambridge water - but whatever it is, we want to be a part of the next statistical profile.

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