E 31st St / 3rd Ave median real estate price is $2,103,841, which is more expensive than 93.4% of the neighborhoods in New York and 98.0% of the neighborhoods in the U.S.
The average rental price in E 31st St / 3rd Ave is currently $5,782, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 94.6% of the neighborhoods in New York.
E 31st St / 3rd Ave is a densely urban neighborhood (based on population density) located in New York, New York.
E 31st St / 3rd 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 E 31st St / 3rd Ave neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built before 1940.
E 31st St / 3rd Ave has a 13.1% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 72.8% 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.
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.
People
Of note is NeighborhoodScout's research finding that the E 31st St / 3rd Ave neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the E 31st St / 3rd Ave community truly stands out from the rest in this regard.
In addition, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 58.5%. This is a higher percent living alone than we found in 98.5% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.
Also, 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 E 31st St / 3rd Ave neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 98.1% 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 E 31st St / 3rd Ave neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for young, single professionals.
Finally, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 80.1% of the adults living in the E 31st St / 3rd Ave neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 97.8% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the E 31st St / 3rd Ave neighborhood buck this trend. 87.4% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.9% of U.S. neighborhoods.
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 143,831 people per square mile, it is more densely populated than 99.9% 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 E 31st St / 3rd Ave neighborhood is one of the most walkable neighborhoods in America.
In addition, the E 31st St / 3rd Ave 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 95.7% 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.
Furthermore, the real estate in the E 31st St / 3rd Ave 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, 95.6% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.1% of American neighborhoods.
Also of note, 89.0% of the real estate in the E 31st St / 3rd Ave neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Modes of Transportation
If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 7.9% of residents in the E 31st St / 3rd Ave neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 99.3% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.
Also, in the E 31st St / 3rd Ave neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 28.0% of residents here. This is a higher proportion of walking commuters than we found in 99.0% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Finally, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 23.1% of the E 31st St / 3rd Ave neighborhood's commuters ride the train to and from work each day, which is more than we found in 97.5% of America's neighborhoods.
Occupations
Executives, managers and professionals make up 81.5% of the workforce in the E 31st St / 3rd Ave neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 99.3% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Diversity
Did you know that the E 31st St / 3rd Ave neighborhood has more Austrian and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.8% of this neighborhood's residents have Austrian ancestry and 3.9% have Eastern European ancestry.
E 31st St / 3rd Ave is also pretty special linguistically. Significantly, 0.9% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 97.4% of the neighborhoods in America.
There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.
The neighbors in the E 31st St / 3rd Ave neighborhood in New York 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 92.6% of the neighborhoods in America. In addition, 0.0% 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 100.0% of America'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 E 31st St / 3rd Ave neighborhood, 81.5% 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 11.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (3.9%), and 3.4% 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 E 31st St / 3rd Ave neighborhood is English, spoken by 82.5% of households. Other important languages spoken here include Chinese, Spanish and French.
Ethnicity / Ancestry
Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.
In the E 31st St / 3rd Ave neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Asian (19.6%). There are also a number of people of Polish ancestry (12.8%), and residents who report Irish roots (10.0%), and some of the residents are also of Italian ancestry (7.5%), along with some English ancestry residents (6.3%), among others. In addition, 17.2% 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 E 31st St / 3rd Ave neighborhood spend between 15 and 30 minutes commuting one-way to work (45.2% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (28.0%) hop out the door and walk to work to get to work. In addition, quite a number also take the train to get to work (23.1%) and 7.9% of residents also bicycle for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
