Why Live in Derby Street
The Derby Street neighborhood in Salem, Massachusetts, is characterized by vintage homes, some dating as far back as the 17th century, and many from the 18th-century Federal era. The original inhabitants included sailmakers and carpenters. Homes continued to be added through the decades up until the mid-20th century, while many of the historical homes were converted into multiunit properties. The Salem Maritime National Historic Site, the first of its kind in the U.S., includes a dozen historic buildings and the Friendship of Salem vessel. Nearby, the House of the Seven Gables offers guided tours, and Winter Island, less than 2 miles away, provides camping, sailing and beach activities. Collins Cove Park has basketball courts and a softball field. Pickering Wharf, with over 30 storefronts, is known for restaurants, including Mercy Tavern, which also hosts live music. Longboards specializes in lobster-themed menu items and offers darts, shuffleboard and arcade games. The Salem Arts Festival and the Salem Jazz and Soul Festival are notable annual events in Salem. The neighborhood is walkable, with sidewalks lining many streets, and there's bus service. Additionally, about a mile away is the Salem Station, with Massachusetts Bay Transportation Authority (MBTA) commuter rail. There's close access to major roads like Essex Street and U.S. Route 1, and the Salem Ferry offers a scenic commute to Boston.
Frequently Asked Questions
Is Derby Street a good place to live?
Derby Street is a good place to live. Derby Street is considered somewhat walkable and somewhat bikeable with some transit options. Derby Street is a neighborhood with a crime score of 4, on par with the average neighborhood in the U.S. Derby Street has 4 parks for recreational activities. It has a median age of 43. The average household income is $100,348 which is below the national average. College graduates make up 62.9% of residents. A majority of residents in Derby Street are renters, with 50.7% of residents renting and 49.3% of residents owning their home. A
local real estate agent serving Derby Street can help you decide if this neighborhood is the right one for you. Learn more on our
Derby Street neighborhood guide.
Is Derby Street, MA a safe neighborhood?
Derby Street, MA is a safe neighborhood and is on par with the average neighborhood in the United States. It received a crime score of 4 out of 10.
How much do you need to make to afford a house in Derby Street?
The median home price in Derby Street is $499,000. If you put a 20% down payment of $99,800 and had a 30-year fixed mortgage with an interest rate of 6.01%, your estimated principal and interest payment would be $2,400 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $103K a year to afford the median home price in Derby Street. Learn how much home you can afford with our
Home Affordability Calculator. The average household income in Derby Street is $100K.
What are the best public schools in Derby Street?
The best public schools that serve Derby Street are:
What are the best private schools in Derby Street?
The best private schools that serve Derby Street are:
What are the most popular zip codes in Derby Street, Salem, MA?
What are the most popular neighborhoods near Derby Street, Salem, MA?
Home Trends in Derby Street, MA
On average, homes in Derby Street, Salem sell after 25 days on the market compared to the national average of 54 days. The median sale price for homes in Derby Street, Salem over the last 12 months is $520,000, consistent with the median home sale price over the previous 12 months.
Median Sale Price
$520,000
Median Single Family Sale Price
$650,000
Median Townhouse Sale Price
$439,000
Median 2 Bedroom Sale Price
$480,000
Median 1 Bedroom Sale Price
$395,000
Average Price Per Sq Ft
$515
Number of Homes for Sale
4
Last 12 months Home Sales
19
Median List Price
$499,000
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
0%