Melrose Southwest median real estate price is $628,764, which is more expensive than 46.0% of the neighborhoods in New York and 75.6% of the neighborhoods in the U.S.
The average rental price in Melrose Southwest is currently $1,693, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 79.6% of New York neighborhoods.
Melrose Southwest is a densely urban neighborhood (based on population density) located in Bronx, New York.
Melrose Southwest 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 Melrose Southwest neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.
In Melrose Southwest, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Melrose Southwest is very tight compared to the demand for property here.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
Renter-occupied real estate is dominant in the Melrose Southwest neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 95.4%, which is higher than 98.1% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so. With a real estate vacancy rate of only 0.0%, the Melrose Southwest neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.
In addition, 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 84,041 people per square mile, it is more densely populated than 99.4% 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 Melrose Southwest neighborhood is one of the most walkable neighborhoods in America.
Furthermore, the real estate in the Melrose Southwest neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 84.9% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 97.4% of American neighborhoods.
Of note, 90.4% of the children in this area live in poverty; an extraordinarily high percentage compared to other neighborhoods in the nation. In a nation where approximately one in four children grows up in poverty, this neighborhood stands out for the depth of the problem manifested here.
In addition, whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the Melrose Southwest neighborhood has more single mother households than 98.4% of the neighborhoods in the U.S. Often high concentrations of single mother homes can be a strong indicator of family and social issues such as poverty, high rates of school dropouts, crime, and other societal problems.
Also, the Melrose Southwest neighborhood is unique for having just 4.7% of adults here having earned a bachelor's degree. This is a lower rate of college graduates than NeighborhoodScout found in 97.5% of America's neighborhoods.
Our research revealed that more commuters here take the bus to work (31.0% ride the bus) than 99.7% 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.
Also, in the Melrose Southwest neighborhood, 34.6% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 98.6% of the neighborhoods in America.
Finally, would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the Melrose Southwest neighborhood is a fantastic option for bicycle commuters, as 2.7% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 95.2% of the neighborhoods in America.
American households most often have a car, and regularly they have two or three. But households in the Melrose Southwest neighborhood buck this trend. 66.1% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.4% of U.S. neighborhoods.
From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the Melrose Southwest neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 96.9% of all American neighborhoods.
Did you know that the Melrose Southwest neighborhood has more Puerto Rican and Dominican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 28.0% of this neighborhood's residents have Puerto Rican ancestry and 13.5% have Dominican ancestry.
Melrose Southwest is also pretty special linguistically. Significantly, 76.6% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 98.3% 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 Melrose Southwest neighborhood in Bronx are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 100.0% of U.S. neighborhoods. With 90.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 99.7% of U.S. neighborhoods.
The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.
In the Melrose Southwest neighborhood, 40.1% 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 25.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (21.2%), and 13.1% in executive, management, and professional 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 Melrose Southwest neighborhood is Spanish, spoken by 76.6% of households. Other important languages spoken here include English and African languages.
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 Melrose Southwest neighborhood in Bronx, NY, residents most commonly identify their ethnicity or ancestry as Mexican (30.3%). There are also a number of people of Puerto Rican ancestry (28.0%), and residents who report Dominican roots (13.5%), and some of the residents are also of South American ancestry (6.4%), along with some Sub-Saharan African ancestry residents (2.4%), among others. In addition, 27.4% 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 Melrose Southwest neighborhood spend between 30 and 45 minutes commuting one-way to work (39.3% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (34.6%) take the train to get to work. In addition, quite a number also ride the bus to get to work (31.0%) and 12.8% of residents also drive alone in a private automobile 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.
