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 Albany, the Central Avenue West neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
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 Central Avenue West 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, 63.2% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 99.4% of America's neighborhoods.
In addition, being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the Central Avenue West neighborhood is one of the most walkable neighborhoods in America.
Furthermore, renter-occupied real estate is dominant in the Central Avenue West neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 85.3%, which is higher than 95.5% 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 Central Avenue West neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 68.9% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 98.4% of the neighborhoods in the United States.
People
One of the unique characteristics of the Central Avenue West neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 99.0% of the neighborhoods in America.
In addition, an extraordinary 13.9% of the residents of the Central Avenue West neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.
Car Ownership
We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Central Avenue West neighborhood has a highly unusual pattern of car ownership. 45.7% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.5% of U.S. neighborhoods.
