53rd St / 8th Ave median real estate price is $1,530,706, which is more expensive than 89.1% of the neighborhoods in New York and 96.7% of the neighborhoods in the U.S.
The average rental price in 53rd St / 8th Ave is currently $2,212, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 66.8% of New York neighborhoods.
53rd St / 8th Ave is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
53rd St / 8th Ave real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the 53rd St / 8th Ave 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 1970 and 1999.
53rd St / 8th Ave has a 13.6% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 74.4% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
Real Estate
What you'll find when you visit or move to this neighborhood is one of the most crowded neighborhoods in all of America. With an incredible 96,741 people per square mile, it is more densely populated than 99.6% of America's neighborhoods. 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 53rd St / 8th Ave neighborhood is one of the most walkable neighborhoods in America.
In addition, corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the 53rd St / 8th Ave neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 79.0% of the real estate here is made up of such dwellings, which is higher than 99.9% of all U.S. neighborhoods.
Furthermore, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 80.4% of the residential real estate in the 53rd St / 8th Ave neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 99.7% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
Car Ownership
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the 53rd St / 8th Ave neighborhood have a highly unusual car ownership. 73.6% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.7% of U.S. neighborhoods.
Modes of Transportation
If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 36.9% of the 53rd St / 8th Ave neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.6% of America's neighborhoods.
Also, in the 53rd St / 8th Ave neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 30.4% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 97.1% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
People
Astoundingly, NeighborhoodScout's research reveals that this single neighborhood has a higher concentration of married couples living here than 98.1% of all U.S. neighborhoods. Whether they have school-aged children or not, married couples are the rule in the 53rd St / 8th Ave neighborhood. If you are a married couple, you may find many people here with a similar lifestyle, and perhaps common interests. But if you are single, you might not find many other singles here.
In addition, with a nice mix of college students, safety from crime, and decent walkability, the 53rd St / 8th Ave neighborhood rates highly as a college student friendly place to live, and one that college students and their parents may want to consider. NeighborhoodScout's analysis shows that it rates more highly for a good place for college students to live than 86.5% of the neighborhoods in NY. This often also means that the area has certain amenities and services geared towards college students, from undergraduates to graduate students.
Occupations
There are more people living in the 53rd St / 8th Ave neighborhood employed as sales and service workers (57.0%) than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.
Length of Commute
Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The 53rd St / 8th Ave neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the 53rd St / 8th Ave neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 13.1% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 97.8% of all neighborhoods in America.
Diversity
Did you know that the 53rd St / 8th Ave neighborhood has more Asian and Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 92.3% of this neighborhood's residents have Asian ancestry and 3.9% have Greek ancestry.
53rd St / 8th Ave is also pretty special linguistically. Significantly, 88.7% of its residents five years old and above primarily speak Chinese at home. This is a higher percentage than 100.0% of all U.S. neighborhoods.
Migration / Stability
The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. More residents of the 53rd St / 8th Ave neighborhood live here today that also were living in this same neighborhood five years ago than is found in 97.0% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while. What is interesting to note, is that the 53rd St / 8th Ave neighborhood has a greater percentage of residents born in another country (68.9%) than are found in 99.7% of all U.S. neighborhoods.
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. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the 53rd St / 8th Ave neighborhood in Brooklyn are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 61.7% of U.S. neighborhoods. With 33.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 84.6% 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 53rd St / 8th Ave neighborhood, 43.0% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 35.7% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (15.0%), and 6.2% in manufacturing and laborer occupations.
Languages
The most common language spoken in the 53rd St / 8th Ave neighborhood is Chinese, spoken by 88.7% of households. Some people also speak English (6.0%).
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 53rd St / 8th Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Asian (92.3%). There are also a number of people of Greek ancestry (3.9%), and residents who report Italian roots (2.7%). In addition, 68.9% of the residents of this neighborhood were born in another country.
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in 53rd St / 8th Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (40.3% of working residents), longer and tougher than most commutes in America.
Here most residents (36.9%) take the train to get to work. In addition, quite a number also hop out the door and walk to work to get to work (9.2%) and 8.6% of residents also carpool with coworkers, friends, or neighbors for their daily commute. This neighborhood is distinguished by the high number of residents who take the train to work each day, which can be a very good way to get to work at a lower cost and with less pollution.
