Madison Ave / E 72nd St median real estate price is $4,698,696, which is more expensive than 98.2% of the neighborhoods in New York and 99.5% of the neighborhoods in the U.S.
The average rental price in Madison Ave / E 72nd St is currently $4,931, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 87.9% of the neighborhoods in New York.
Madison Ave / E 72nd St is a densely urban neighborhood (based on population density) located in New York, New York.
Madison Ave / E 72nd St 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 single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Madison Ave / E 72nd St 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 Madison Ave / E 72nd St. The current real estate vacancy rate here is 37.2%. This is higher than the rate of vacancies in 97.0% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (30.2%). 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.
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
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 Madison Ave / E 72nd St neighborhood is wealthier than 97.9% 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, Madison Ave / E 72nd St also has one of the lowest ratings of child poverty in the nation.
In addition, 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 Madison Ave / E 72nd St neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 99.9% 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 Madison Ave / E 72nd St neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives.
Also, if knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Madison Ave / E 72nd St neighborhood, where 50.2% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.4% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 99.2% of the neighborhoods in America.
Real Estate
The Madison Ave / E 72nd St neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 56,835 persons per square mile in the neighborhood, it is more packed with people than 98.7% of the nation'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 Madison Ave / E 72nd St neighborhood is one of the most walkable neighborhoods in America.
In addition, one of the really unique and interesting things about the look and setting of the Madison Ave / E 72nd St neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 93.3% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 98.7% of all neighborhoods in America.
Furthermore, vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 37.2% of the residential real estate vacant, the Madison Ave / E 72nd St neighborhood claims the distinction of having a higher vacancy rate than 97.0% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.
Also of note, 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 57.8% of the residential real estate in the Madison Ave / E 72nd St neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 95.9% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
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 5.0% of residents in the Madison Ave / E 72nd St neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 98.2% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.
Also, in the Madison Ave / E 72nd St neighborhood, 23.6% 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 97.6% of the neighborhoods in America.
Finally, our research revealed that more commuters here take the bus to work (12.4% ride the bus) than 96.2% 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.
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 Madison Ave / E 72nd St neighborhood have a highly unusual car ownership. 40.2% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.1% of U.S. neighborhoods.
Diversity
Did you know that the Madison Ave / E 72nd St neighborhood has more Austrian and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.5% of this neighborhood's residents have Austrian ancestry and 8.5% have Russian ancestry.
Madison Ave / E 72nd St is also pretty special linguistically. Significantly, 3.0% 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 99.7% 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 Madison Ave / E 72nd St 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 97.9% 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 Madison Ave / E 72nd St neighborhood, 62.4% 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 26.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.2%), and 3.8% 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 Madison Ave / E 72nd St neighborhood is English, spoken by 75.0% of households. Other important languages spoken here include Spanish, Chinese, French and German/Yiddish.
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 Madison Ave / E 72nd St neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Asian (10.8%). There are also a number of people of German ancestry (9.3%), and residents who report Russian roots (8.5%), and some of the residents are also of Irish ancestry (8.3%), along with some English ancestry residents (5.5%), among others. In addition, 11.2% 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 Madison Ave / E 72nd St neighborhood spend between 15 and 30 minutes commuting one-way to work (45.7% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (23.6%) take the train to get to work. In addition, quite a number also ride the bus to get to work (12.4%) and 12.3% 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.
