53rd St / 8th Ave median real estate price is $1,530,706, which is more expensive than 89.1% of the neighborhoods in New York and 96.7% of the neighborhoods in the U.S.
The average rental price in 53rd St / 8th Ave is currently $2,212, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 66.8% of New York neighborhoods.
53rd St / 8th Ave is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
53rd 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 53rd 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 1970 and 1999.
53rd St / 8th Ave has a 13.6% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 74.4% 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.
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
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 96,741 people per square mile, it is more densely populated than 99.6% 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 53rd 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 53rd 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, 79.0% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 99.9% 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 53rd St / 8th Ave neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 80.4% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 99.7% of the neighborhoods in the United States.
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 53rd St / 8th Ave neighborhood have a highly unusual car ownership. 73.6% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.7% 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 36.9% of the 53rd St / 8th Ave neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.6% of America's neighborhoods.
Also, in the 53rd St / 8th Ave neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 30.4% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 97.1% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
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 53rd St / 8th Ave neighborhood may actually hold the key. 72.8% of its residents are married, which is a higher percentage than is found in 98.1% of the neighborhoods in America.
In addition, with a nice mix of college students, safety from crime, and decent walkability, the 53rd St / 8th Ave neighborhood rates highly as a college student friendly place to live, and one that college students and their parents may want to consider. NeighborhoodScout's analysis shows that it rates more highly for a good place for college students to live than 86.5% of the neighborhoods in NY. This often also means that the area has certain amenities and services geared towards college students, from undergraduates to graduate students.
Occupations
From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the 53rd St / 8th Ave neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 97.9% of all American neighborhoods.
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 53rd St / 8th Ave neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 13.1% 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 97.8% of all neighborhoods in America.
Diversity
Did you know that the 53rd St / 8th Ave neighborhood has more Asian and Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 92.3% of this neighborhood's residents have Asian ancestry and 3.9% have Greek ancestry.
53rd St / 8th Ave is also pretty special linguistically. Significantly, 88.7% of its residents five years old and above primarily speak Chinese at home. This is a higher percentage than 100.0% 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 53rd St / 8th Ave neighborhood. More residents of the 53rd St / 8th Ave neighborhood live here today that also were living in this same neighborhood five years ago than is found in 97.0% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while. What is interesting to note, is that the 53rd St / 8th Ave neighborhood has a greater percentage of residents born in another country (68.9%) than are found in 99.7% 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 53rd St / 8th 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 61.7% of U.S. neighborhoods. With 33.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 84.6% 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 53rd St / 8th Ave neighborhood, 43.0% 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 executive, management, and professional occupations, with 35.7% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (15.0%), and 6.2% in manufacturing and laborer occupations.
Languages
The most common language spoken in the 53rd St / 8th Ave neighborhood is Chinese, spoken by 88.7% of households. Some people also speak English (6.0%).
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 53rd St / 8th Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Asian (92.3%). There are also a number of people of Greek ancestry (3.9%), and residents who report Italian roots (2.7%). In addition, 68.9% 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 53rd St / 8th Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (40.3% of working residents), longer and tougher than most commutes in America.
Here most residents (36.9%) 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 (9.2%) and 8.6% 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.
