45th St / 8th Ave median real estate price is $1,173,658, which is more expensive than 80.2% of the neighborhoods in New York and 93.3% of the neighborhoods in the U.S.
The average rental price in 45th St / 8th Ave is currently $3,434, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 60.8% of the neighborhoods in New York.
45th St / 8th Ave is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
45th St / 8th Ave 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 renter occupied. Many of the residences in the 45th St / 8th 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.
Home and apartment vacancy rates are 6.8% in 45th St / 8th Ave. NeighborhoodScout analysis shows that this rate is lower than 55.2% of the neighborhoods in the nation, approximately near the middle range for vacancies.
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.
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 108,615 people per square mile, it is more densely populated than 99.7% 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 45th St / 8th Ave neighborhood is one of the most walkable neighborhoods in America.
In addition, 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 45th St / 8th Ave 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, 52.2% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 98.6% of America's neighborhoods.
Furthermore, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The 45th St / 8th Ave neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 87.7% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 99.9% of the neighborhoods in the United States.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the 45th St / 8th Ave neighborhood buck this trend. 62.5% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.3% of U.S. neighborhoods.
Modes of Transportation
More people in 45th St / 8th Ave choose to walk to work each day (21.1%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Also, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 26.6% of the 45th St / 8th Ave neighborhood's commuters ride the train to and from work each day, which is more than we found in 97.9% of America's neighborhoods.
Occupations
There are more people living in the 45th St / 8th Ave neighborhood employed as sales and service workers (59.9%) than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.
Diversity
Did you know that the 45th St / 8th Ave neighborhood has more Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 63.9% of this neighborhood's residents have Asian ancestry.
45th St / 8th Ave is also pretty special linguistically. Significantly, 49.5% of its residents five years old and above primarily speak Chinese at home. This is a higher percentage than 99.9% of all U.S. neighborhoods.
Migration / Stability
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. What is interesting to note, is that the 45th St / 8th Ave neighborhood has a greater percentage of residents born in another country (56.9%) than are found in 98.9% of all U.S. neighborhoods.
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 45th St / 8th Ave neighborhood in Brooklyn are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 49.2% of the neighborhoods in America. With 21.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 70.7% of U.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 45th St / 8th Ave neighborhood, 40.1% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 21.4% of the residents employed. Other residents here are employed in executive, management, and professional occupations (20.8%), and 17.7% in clerical, assistant, and tech support 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 45th St / 8th Ave neighborhood is Chinese, spoken by 49.5% of households. Other important languages spoken here include English, Spanish, Polish and German/Yiddish.
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 45th St / 8th Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Asian (63.9%). There are also a number of people of Polish ancestry (6.9%), and residents who report Mexican roots (4.5%), and some of the residents are also of Russian ancestry (2.4%), along with some Italian ancestry residents (2.2%), among others. In addition, 56.9% 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 45th St / 8th Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (35.9% of working residents), longer and tougher than most commutes in America.
Here most residents (26.6%) 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 (21.1%) and 18.1% 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.
