E 85th St / Madison Ave median real estate price is $4,773,604, which is more expensive than 99.2% of the neighborhoods in New York and 99.8% of the neighborhoods in the U.S.
The average rental price in E 85th St / Madison Ave is currently $5,450, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 92.6% of the neighborhoods in New York.
E 85th St / Madison Ave is a densely urban neighborhood (based on population density) located in New York, New York.
E 85th St / Madison 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 occupied by a mixture of owners and renters. Many of the residences in the E 85th St / Madison 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.
Vacant apartments or homes are a major fact of life in E 85th St / Madison Ave. The current real estate vacancy rate here is 27.0%. This is higher than the rate of vacancies in 93.1% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (15.3%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually 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.
People
Wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the E 85th St / Madison Ave neighborhood is wealthier than 98.0% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood. As one would expect in a considerably wealthy neighborhood such as this, E 85th St / Madison Ave also has one of the lowest ratings of child poverty in the nation.
In addition, think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the E 85th St / Madison Ave neighborhood: a neighborhood in which more "urban sophisticates" live than 99.8% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives and active retirees.
Also, 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 91.0% of the adults living in the E 85th St / Madison Ave neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 99.8% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
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 116,402 people per square mile, it is more densely populated than 99.8% 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 85th St / Madison Ave neighborhood is one of the most walkable neighborhoods in America.
In addition, the real estate in the E 85th St / Madison 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, 95.2% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.0% of American 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 66.5% of the residential real estate in the E 85th St / Madison Ave neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 97.9% 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 E 85th St / Madison Ave neighborhood have a highly unusual car ownership. 45.6% 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.
Modes of Transportation
If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 35.1% of the E 85th St / Madison Ave neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.5% of America's neighborhoods.
Also, in the E 85th St / Madison 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 11.5% of residents here. This is a higher proportion of walking commuters than we found in 95.7% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Finally, our research revealed that more commuters here take the bus to work (10.8% ride the bus) than 95.2% 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.
Occupations
The E 85th St / Madison Ave neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 98.1% of the neighborhoods in America. In fact, 76.2% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Diversity
Did you know that the E 85th St / Madison Ave neighborhood has more Russian and Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 11.8% of this neighborhood's residents have Russian ancestry and 3.2% have Iranian ancestry.
E 85th St / Madison Ave is also pretty special linguistically. Significantly, 0.9% 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 96.1% 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 85th St / Madison 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 98.0% 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.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the E 85th St / Madison Ave neighborhood, 76.2% 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 20.0% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (3.9%), and 3.1% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the E 85th St / Madison Ave neighborhood is English, spoken by 86.9% of households. Some people also speak French (3.4%).
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 E 85th St / Madison Ave neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Russian (11.8%). There are also a number of people of German ancestry (10.3%), and residents who report Irish roots (9.4%), and some of the residents are also of Italian ancestry (7.2%), along with some English ancestry residents (4.7%), among others. In addition, 16.3% 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 E 85th St / Madison Ave neighborhood spend between 30 and 45 minutes commuting one-way to work (56.0% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (35.1%) 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 (11.5%) and 10.8% 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.
