3rd St / Colby St median real estate price is $99,728, which is less expensive than 97.1% of New York neighborhoods and 94.9% of all U.S. neighborhoods.
The average rental price in 3rd St / Colby St is currently $1,847, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 74.1% of New York neighborhoods.
3rd St / Colby St is a densely urban neighborhood (based on population density) located in Albany, New York.
3rd St / Colby St real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the 3rd St / Colby 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 1970 and 1999.
Vacant apartments or homes are a major fact of life in 3rd St / Colby St. The current real estate vacancy rate here is 27.9%. This is higher than the rate of vacancies in 93.7% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, 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.
Our research revealed that more commuters here take the bus to work (38.5% ride the bus) than 99.9% 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.
Also, our research shows that more people carpool to work here in the 3rd St / Colby St (26.9%) than in 97.9% of the neighborhoods in America.
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 3rd St / Colby St 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, 65.7% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 99.5% of America's neighborhoods.
In addition, 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 3rd St / Colby St neighborhood is among the top 5% of American neighborhoods in terms of walkability.
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 67.7% of the residential real estate in the 3rd St / Colby St neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 98.2% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
The 3rd St / Colby St neighborhood has a greater proportion of government workers living in it than 98.7% of the neighborhoods in America, according to NeighborhoodScout's exclusive analysis. This is a unique feature of this neighborhood, and one that shapes its character.
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 3rd St / Colby St neighborhood has a highly unusual pattern of car ownership. 39.3% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.0% of U.S. neighborhoods.
Did you know that the 3rd St / Colby St neighborhood has more Dominican and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 9.0% of this neighborhood's residents have Dominican ancestry and 11.6% have Puerto Rican ancestry.
3rd St / Colby St is also pretty special linguistically. Significantly, 6.6% of its residents five years old and above primarily speak Urdu, which is the national language of Pakistan, at home. While this may seem like a small percentage, it is higher than 99.9% 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 3rd St / Colby St neighborhood in Albany are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 87.4% of U.S. neighborhoods. With 46.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 92.6% of U.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 3rd St / Colby St neighborhood, 31.5% 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 27.5% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (21.0%), and 20.0% in clerical, assistant, and tech support occupations.
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 3rd St / Colby St neighborhood is English, spoken by 79.1% of households. Other important languages spoken here include Spanish and Urdu (the national language of Pakistan).
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 3rd St / Colby St neighborhood in Albany, NY, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (12.6%). There are also a number of people of Puerto Rican ancestry (11.6%), and residents who report Dominican roots (9.0%), and some of the residents are also of Irish ancestry (8.5%), along with some Italian ancestry residents (6.0%), among others. In addition, 18.7% 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 3rd St / Colby St neighborhood spend between 15 and 30 minutes commuting one-way to work (61.1% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (38.5%) ride the bus to get to work. In addition, quite a number also drive alone in a private automobile to get to work (31.1%) and 26.9% of residents also carpool with coworkers, friends, or neighbors for their daily commute. The bus provides a valuable service in the 3rd St / Colby St neighborhood of Albany by getting a lot of residents to and from work daily, reducing the costs of commuting and reducing some congestion on the roads as well.