Park South / Albany College of Pharmacy median real estate price is $338,535, which is less expensive than 71.4% of New York neighborhoods and 55.1% of all U.S. neighborhoods.
The average rental price in Park South / Albany College of Pharmacy is currently $2,255, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 65.2% of New York neighborhoods.
Park South / Albany College of Pharmacy is an urban neighborhood (based on population density) located in Albany, New York.
Park South / Albany College of Pharmacy real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Park South / Albany College of Pharmacy 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 2000 and the present.
Park South / Albany College of Pharmacy has a 9.6% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 61.0% 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.
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 Albany, the Park South / Albany College of Pharmacy neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Of note is NeighborhoodScout's research finding that the Park South / Albany College of Pharmacy neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Park South / Albany College of Pharmacy community truly stands out from the rest in this regard.
In addition, an extraordinary 21.2% of the residents of the Park South / Albany College of Pharmacy neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.
More people in Park South / Albany College of Pharmacy choose to walk to work each day (28.9%) 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.
American households most often have a car, and regularly they have two or three. But households in the Park South / Albany College of Pharmacy neighborhood buck this trend. 28.5% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 96.9% of U.S. neighborhoods.
89.0% of the real estate in the Park South / Albany College of Pharmacy neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood 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 Park South / Albany College of Pharmacy 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 36.5% of the real estate here is made up of such dwellings, which is higher than 96.4% of all U.S. neighborhoods.
The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the Park South / Albany College of Pharmacy neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 96.4% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Did you know that the Park South / Albany College of Pharmacy neighborhood has more Haitian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.7% of this neighborhood's residents have Haitian ancestry.
Park South / Albany College of Pharmacy is also pretty special linguistically. Significantly, 4.2% 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 99.7% of the neighborhoods in America.
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 Park South / Albany College of Pharmacy 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 92.9% of U.S. neighborhoods. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America'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 Park South / Albany College of Pharmacy neighborhood, 32.6% 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 24.3% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (23.1%), and 19.3% in manufacturing and laborer 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 Park South / Albany College of Pharmacy neighborhood is English, spoken by 79.8% of households. Other important languages spoken here include Urdu (the national language of Pakistan), Tagalog (the first language of the Philippine region), Polish and Spanish.
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 Park South / Albany College of Pharmacy neighborhood in Albany, NY, residents most commonly identify their ethnicity or ancestry as Italian (12.5%). There are also a number of people of Asian ancestry (12.3%), and residents who report German roots (7.0%), and some of the residents are also of Irish ancestry (6.9%), along with some Sub-Saharan African ancestry residents (4.9%), among others. In addition, 17.1% 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 Park South / Albany College of Pharmacy neighborhood spend between 15 and 30 minutes commuting one-way to work (50.7% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (41.7%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (28.9%) and 9.6% of residents also ride the bus for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.