81st St / 5th Ave median real estate price is $1,486,184, which is more expensive than 87.1% of the neighborhoods in New York and 96.0% of the neighborhoods in the U.S.
The average rental price in 81st St / 5th Ave is currently $3,461, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 65.9% of the neighborhoods in New York.
81st St / 5th Ave is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
81st St / 5th Ave real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the 81st St / 5th 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 1940 and 1969.
81st St / 5th Ave has a 11.6% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 69.3% 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.
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 Brooklyn, the 81st St / 5th Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
The 81st St / 5th Ave neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 51,727 persons per square mile in the neighborhood, it is more packed with people than 98.5% of the nation's neighborhoods. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The 81st St / 5th Ave neighborhood is among the top 5% of American neighborhoods in terms of walkability.
In addition, 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 81st St / 5th Ave 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, 33.9% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 95.8% of America'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 66.7% of the residential real estate in the 81st St / 5th Ave neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 98.1% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
In the 81st St / 5th Ave neighborhood, 38.4% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 98.8% of the neighborhoods in America.
Also, our research revealed that more commuters here take the bus to work (10.7% ride the bus) than 95.5% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.
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 81st St / 5th Ave neighborhood have a highly unusual car ownership. 49.4% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.7% of U.S. neighborhoods.
The 81st St / 5th Ave neighborhood stands out within New York for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 8.4% of college-friendly places to live in NY. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for urban sophisticates.
Did you know that the 81st St / 5th Ave neighborhood has more Greek and Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 11.1% of this neighborhood's residents have Greek ancestry and 11.0% have Arab ancestry.
81st St / 5th Ave is also pretty special linguistically. Significantly, 7.0% of its residents five years old and above primarily speak Greek at home. While this may seem like a small percentage, it is higher than 100.0% of the neighborhoods in America.
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 81st St / 5th Ave neighborhood in Brooklyn are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 73.1% of the neighborhoods in America. In addition, 2.9% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 71.5% of America'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 81st St / 5th Ave neighborhood, 62.3% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 13.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (12.6%), and 11.8% in manufacturing and laborer occupations.
Languages
The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the 81st St / 5th Ave neighborhood is English, spoken by 53.7% of households. Other important languages spoken here include Spanish, Chinese, Arabic and Greek.
Ethnicity / Ancestry
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the 81st St / 5th Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Asian (11.9%). There are also a number of people of Greek ancestry (11.1%), and residents who report Arab roots (11.0%), and some of the residents are also of Italian ancestry (10.2%), along with some Mexican ancestry residents (9.5%), among others. In addition, 29.7% of the residents of this neighborhood were born in another country.
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in 81st St / 5th Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (44.9% of working residents), longer and tougher than most commutes in America.
Here most residents (38.4%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (23.2%) and 10.7% of residents also ride the bus 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.
