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Real Estate Prices & Overview

50th St / Old New Utrecht Rd median real estate price is $2,244,332, which is more expensive than 94.5% of the neighborhoods in New York and 98.4% of the neighborhoods in the U.S.

The average rental price in 50th St / Old New Utrecht Rd is currently $3,625, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 66.2% of the neighborhoods in New York.

50th St / Old New Utrecht Rd is a densely urban neighborhood (based on population density) located in Brooklyn, New York.

50th St / Old New Utrecht Rd real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two 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 50th St / Old New Utrecht Rd 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.

50th St / Old New Utrecht Rd has a 11.2% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 66.7% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

Notable & Unique Neighborhood Characteristics

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 50th St / Old New Utrecht Rd neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Modes of Transportation

More people in 50th St / Old New Utrecht Rd choose to walk to work each day (40.2%) 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.

Real Estate

The 50th St / Old New Utrecht Rd neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 47,596 persons per square mile in the neighborhood, it is more packed with people than 98.3% 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 50th St / Old New Utrecht Rd 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 50th St / Old New Utrecht Rd 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, 53.0% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 98.7% of America's 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 50th St / Old New Utrecht Rd 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

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 50th St / Old New Utrecht Rd neighborhood has a highly unusual pattern of car ownership. 36.0% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.8% of U.S. neighborhoods.

People

Priests and therapists would like to think they know the secrets to a truly successful marriage, but according to NeighborhoodScout's research, the folks of the 50th St / Old New Utrecht Rd neighborhood may actually hold the key. 70.8% of its residents are married, which is a higher percentage than is found in 96.9% of the neighborhoods in America.

Diversity

Did you know that the 50th St / Old New Utrecht Rd neighborhood has more Hungarian and Polish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 9.2% of this neighborhood's residents have Hungarian ancestry and 14.9% have Polish ancestry.

50th St / Old New Utrecht Rd is also pretty special linguistically. Significantly, 60.2% of its residents five years old and above primarily speak German/Yiddish at home. This is a higher percentage than 99.9% of all U.S. neighborhoods.

The Neighbors

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 50th St / Old New Utrecht Rd 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 64.0% of U.S. neighborhoods. With 40.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 89.1% 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 50th St / Old New Utrecht Rd neighborhood, 65.9% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 16.6% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (10.8%), and 6.7% in manufacturing and laborer occupations.

Languages

The most common language spoken in the 50th St / Old New Utrecht Rd neighborhood is German/Yiddish, spoken by 60.2% of households. Some people also speak English (23.4%).

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 50th St / Old New Utrecht Rd neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Polish (14.9%). There are also a number of people of Hungarian ancestry (9.2%), and residents who report Italian roots (1.2%), and some of the residents are also of Eastern European ancestry (1.1%). In addition, 13.4% of the residents of this neighborhood were born in another country.

Getting to Work

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 50th St / Old New Utrecht Rd neighborhood spend between 15 and 30 minutes commuting one-way to work (31.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (40.2%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (26.0%) and 11.0% of residents also carpool with coworkers, friends, or neighbors for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.


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