NeighborhoodScout
SecurityGauge
    • menu

    Binghamton, NY (City Center)





    Real Estate Prices & Overview

    Median real estate price in the City Center of Binghamton is $169,970, which is less expensive than 91.1% of New York neighborhoods and 85.8% of all U.S. neighborhoods.

    The average rental price in Binghamton City Center is currently $3,866, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 70.3% of the neighborhoods in New York.

    Binghamton City Center is a densely urban neighborhood (based on population density) located in Binghamton, New York.

    Real estate in the City Center of Binghamton, NY 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 City Center 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.

    Vacant apartments or homes are a major fact of life in Binghamton City Center. The current real estate vacancy rate here is 30.2%. This is higher than the rate of vacancies in 95.2% 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.

    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 Binghamton, the City Center neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

    People

    The Binghamton City Center neighborhood stands out for having an average per capita income lower than 95.9% of the neighborhoods in the United States. Also of note is NeighborhoodScout's research finding that the Binghamton City Center 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 Binghamton City Center community truly stands out from the rest in this regard.

    In addition, an extraordinary 44.6% of the residents of the Binghamton City Center 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.

    Real Estate

    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 Binghamton City Center 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 50.4% of the real estate here is made up of such dwellings, which is higher than 98.5% of all U.S. neighborhoods.

    In addition, 88.1% of the real estate in the Binghamton City Center neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America. Vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 30.2% of the residential real estate vacant, the Binghamton City Center neighborhood claims the distinction of having a higher vacancy rate than 95.2% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.

    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 Binghamton City Center neighborhood has a highly unusual pattern of car ownership. 25.0% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 96.3% of 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. In the Binghamton City Center neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.6% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

    Diversity

    Did you know that the Binghamton City Center neighborhood has more Lebanese and Danish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.4% of this neighborhood's residents have Lebanese ancestry and 2.6% have Danish ancestry.

    Binghamton City Center is also pretty special linguistically. Significantly, 4.7% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 98.8% of the neighborhoods in America.

    The Neighbors

    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 City Center neighborhood in Binghamton are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 95.9% 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 Binghamton City Center neighborhood, 58.8% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 26.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (10.0%), and 4.9% in manufacturing and laborer 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 Binghamton City Center neighborhood is English, spoken by 76.1% of households. Other important languages spoken here include Langs. of India, Korean, Spanish and Chinese.

    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 City Center neighborhood in Binghamton, NY, residents most commonly identify their ethnicity or ancestry as Asian (33.1%). There are also a number of people of Irish ancestry (16.5%), and residents who report Italian roots (14.8%), and some of the residents are also of German ancestry (6.2%), along with some English ancestry residents (3.9%), among others. In addition, 26.0% 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 Binghamton City Center neighborhood spend under 15 minutes commuting one-way to work (40.3% of working residents), one of the shortest commutes across America.

    Here most residents (77.5%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (8.7%) and 7.9% of residents also hop out the door and walk to work 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.

    Real Estate includes:
    Average Home Values
    Rental Market
    Housing Market Details
    Neighborhood Setting
    Buy Report
    security gauge sample report
    Download sample report
    Economics & Demographics include:
    Lifestyle & Special Character
    Household Types
    Commute To Work
    Migration & Mobility
    Race & Ethnic Diversity
    Employment Industries & Occupations
    Income & Unemployment Rate
    Higher Education Attainment
    Buy Report
    security gauge sample report
    Download sample report
    Crime includes:
    Neighborhood Crime Index
    Crimes Per Square Mile
    Property Crime Comparison
    Violent Crime Comparison
    Buy Report
    security gauge sample report
    Download sample report
    Schools include:
    School Ratings
    Schools In District
    Public School Test Scores
    School District Enrollment
    Educational Expenditures
    Buy Report
    security gauge sample report
    Download sample report

    Popular real estate nearby

    comparable neighborhoods nearby