Situated along the beautiful coast of Massachusetts Bay, Beverly is one of the most popular resort and residential cities in the state. It has multiple coves apart from two islands, the Great and Little Misery Islands. Furthermore, since it consists of both urban and rural areas, Beverly offers both city amenities and nature attractions.
Though the cost of living is a bit high due to highly urbanized areas, the real estate market in Beverly, MA should be worth noting due to these reasons.
Positive Economic Indicators
Beverly has lower unemployment rates and higher income levels compared to the rest of the U.S. While the country shows 5.20% unemployment rate, Beverly only has 3.80%. Furthermore, income per capita in Beverly is higher than the national average at $39,471 versus $28,555. The family median income of $96,514 is well above the U.S. average of $65,443. Many households earn a great deal with most people working in sales and office jobs, followed by management and finance, healthcare, and manufacturing.
Economic development is also promising as the city was just awarded $400,000 to establish a new anchor system for its Glover Wharf, according to the news report from Beverly Wicked Local. The award will boost Glover Wharf’s commercial and recreational dimensions while enhancing protection for Glover Wharf and Beverly’s waterfront. Beverly also received $80,000 to produce a Municipal Harbor Plan that supports the long-term objectives of sustaining local economic growth.
Residents are excited over the expanded uses of the waterfront which can ease transportation concerns and improve the character and attractiveness of the area. With all these economic plans, Beverly is set to grow financially in the coming years.
Low Crime Rates
Despite the good economic conditions of Beverly, it has much lower crime levels compared to the rest of the nation. The violent crime level in Beverly is 20 compared to the national average of 31.1 which means less there’s a lot fewer murders, rapes, robbery, and aggravated assaults here.
In addition, property crime is also lower at 25 versus the U.S. average of 28.1. Residents are proud that larceny-theft, burglary, and motor theft are not as prevalent in Beverly as in other areas. They say some of the possible reasons for the lower crime rates could be due to the strong community ties and active police networks. As one of the safest cities, Beverly attracts both families and retirees.
Good Educational System
Beverly also offers great schools. Schools get ratings of 4, 6, and 7 from Sperling’s Best Places, including Cove Elementary School, Ayers/Ryal Side School, and Beverly High School. Students in top-ranking schools do well in proficiency tests and their schools have high graduation rates. Many parents prefer to live in Beverly because they see the dedication of teachers in supporting the growth of their students in both academic and extracurricular fields.
Beautiful Destinations
Beverly is home to both serene nature sites, music halls, and historically-rich places. Lynch Park is a place for swimming and Long Hill for camping and dining, while Long Hill is a favorite destination for hiking and appreciating the beauty of lush gardens. As a music-lover, you’ll find a second home in North Shore Music Theatre and the Larcom Theatre with regular live musical performances and plays.
If you want historical sites, John Cabot House shows the history of Beverly with its 18th and 19th century manuscripts and other collections. Curious about the historical witch hunt in MA? Salem is only 12 minutes away. Beverly truly has numerous cultural and recreational places which is why it’s one of the favorite places of many families who have diverse interests.
With plenty of decent-paying work and balanced city and rural amenities, Beverly is a great place to live. If considering living here, contact Buyer’s Choice Realty, a truly exclusive buyer’s agency that can help you find the exact kind of place you can call home in Beverly while representing your interest as the buyer, not the seller, as most agencies do. To learn more about our exclusive buyer agent services, call us at978-468-2138.
Remember, we post tips daily on Twitter and Facebook, many of these tips relate to real estate, mortgages, and other news and information pertaining to Beverly,MA real estate.
