47th St / 7th Ave median real estate price is $2,060,656, which is more expensive than 94.1% of the neighborhoods in New York and 98.3% of the neighborhoods in the U.S.
The average rental price in 47th St / 7th Ave is currently $2,713, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 57.4% of New York neighborhoods.
47th St / 7th Ave is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
47th St / 7th 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 47th St / 7th 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 47th St / 7th Ave. The current real estate vacancy rate here is 18.2%. This is higher than the rate of vacancies in 84.2% 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.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Brooklyn, the 47th St / 7th Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
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 107,294 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 47th St / 7th Ave neighborhood is one of the most walkable neighborhoods in America.
In addition, corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the 47th St / 7th Ave neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 56.7% of the real estate here is made up of such dwellings, which is higher than 99.0% of all U.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 47th St / 7th Ave neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 79.9% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 99.6% of the neighborhoods in the United States.
Car Ownership
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 47th St / 7th Ave neighborhood has a highly unusual pattern of car ownership. 58.8% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.2% 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 39.9% of the 47th St / 7th Ave neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.8% of America's neighborhoods.
Also, our research revealed that more commuters here take the bus to work (10.9% ride the bus) than 95.3% 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.
People
Single parenting is hard. But you don't have to tell the 47th St / 7th Ave neighborhood about it; they already know. 21.7% of this neighborhood's households are run by single mothers, which is a higher concentration than NeighborhoodScout found in 97.8% of American neighborhoods. Further NeighborhoodScout research showed strong statistical correlations among high rates of children living in single parent households, and neighborhood crime, particularly violent crime, neighborhood poverty, and, importantly, the percentage of low weight births and rates of infant mortality.
Length of Commute
Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the 47th St / 7th Ave neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 11.1% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 96.5% of all neighborhoods in America.
Diversity
Did you know that the 47th St / 7th Ave neighborhood has more Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 66.8% of this neighborhood's residents have Asian ancestry.
47th St / 7th Ave is also pretty special linguistically. Significantly, 53.8% 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
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the 47th St / 7th Ave neighborhood. What is interesting to note, is that the 47th St / 7th Ave neighborhood has a greater percentage of residents born in another country (51.6%) than are found in 98.0% of all U.S. neighborhoods.
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 47th St / 7th Ave neighborhood in Brooklyn are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 83.1% of U.S. neighborhoods. With 45.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 92.1% 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 47th St / 7th Ave neighborhood, 36.4% 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 22.7% of the residents employed. Other residents here are employed in executive, management, and professional occupations (21.8%), and 19.1% 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 47th St / 7th Ave neighborhood is Chinese, spoken by 53.8% of households. Other important languages spoken here include Spanish, English and Polish.
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 47th St / 7th Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Asian (66.8%). There are also a number of people of Puerto Rican ancestry (6.7%), and residents who report Mexican roots (5.2%), and some of the residents are also of Polish ancestry (2.3%), along with some Irish ancestry residents (2.3%), among others. In addition, 51.6% 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 47th St / 7th Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (50.6% of working residents), longer and tougher than most commutes in America.
Here most residents (39.9%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (23.2%) and 15.4% 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.
