Prospect Park South median real estate price is $1,261,854, which is more expensive than 81.5% of the neighborhoods in New York and 93.9% of the neighborhoods in the U.S.
The average rental price in Prospect Park South is currently $5,222, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 92.4% of the neighborhoods in New York.
Prospect Park South is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
Prospect Park South 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 townhomes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Prospect Park South 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.
In Prospect Park South, the current vacancy rate is 1.8%, which is a lower rate of vacancies than 87.2% of all neighborhoods in the U.S. This means that the housing supply in Prospect Park South is very tight compared to the demand for property here.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
In the Prospect Park South neighborhood, 42.0% 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 99.1% of the neighborhoods in America.
Also, in the Prospect Park South neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 31.0% 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 95.3% 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.
The Prospect Park South neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 53,543 persons per square mile in the neighborhood, it is more packed with people than 98.6% 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 Prospect Park South neighborhood is among the top 5% of American neighborhoods in terms of walkability.
In addition, the real estate in the Prospect Park South neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 90.9% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.3% of American neighborhoods.
Furthermore, the Prospect Park South neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 86.1% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
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 Prospect Park South neighborhood has a highly unusual pattern of car ownership. 33.5% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.5% of U.S. neighborhoods.
Executives, managers and professionals make up 73.5% of the workforce in the Prospect Park South neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 96.8% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
If you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Prospect Park South neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 96.3% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Prospect Park South neighborhood.
In addition, some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 37.6% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 96.0% of U.S. neighborhoods, where the average American neighborhood has 13.7% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.
Did you know that the Prospect Park South neighborhood has more Russian and Hungarian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.9% of this neighborhood's residents have Russian ancestry and 2.4% have Hungarian ancestry.
Prospect Park South is also pretty special linguistically. Significantly, 2.4% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 98.9% 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 Prospect Park South neighborhood in Brooklyn are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 93.3% of the neighborhoods in America. With 11.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 52.7% of U.S. neighborhoods.
The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.
In the Prospect Park South neighborhood, 73.5% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 13.1% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (8.5%), and 4.9% in government jobs, whether they are in local, state, or federal positions.
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 Prospect Park South neighborhood is English, spoken by 71.3% of households. Other important languages spoken here include Spanish, Polish, Langs. of India and Russian.
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 Prospect Park South neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Irish (11.7%). There are also a number of people of English ancestry (8.3%), and residents who report German roots (8.1%), and some of the residents are also of Russian ancestry (7.9%), along with some Italian ancestry residents (7.5%), among others. In addition, 25.9% 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 Prospect Park South neighborhood spend between 30 and 45 minutes commuting one-way to work (36.8% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (42.0%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (9.5%) and 8.8% 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.
