45th St / 8th Ave median real estate price is $1,173,658, which is more expensive than 80.2% of the neighborhoods in New York and 93.3% of the neighborhoods in the U.S.
The average rental price in 45th St / 8th Ave is currently $3,434, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 60.8% of the neighborhoods in New York.
45th St / 8th Ave is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
45th 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 45th 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 1940 and 1969.
Home and apartment vacancy rates are 6.8% in 45th St / 8th Ave. NeighborhoodScout analysis shows that this rate is lower than 55.2% of the neighborhoods in the nation, approximately near the middle range for vacancies.
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 108,615 people per square mile, it is more densely populated than 99.7% 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 45th 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 45th 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, 52.2% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 98.6% 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 87.7% of the residential real estate in the 45th St / 8th Ave neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 99.9% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the 45th St / 8th Ave neighborhood buck this trend. 62.5% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.3% of U.S. neighborhoods.
Modes of Transportation
More people in 45th St / 8th Ave choose to walk to work each day (21.1%) 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.
Also, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 26.6% of the 45th St / 8th Ave neighborhood's commuters ride the train to and from work each day, which is more than we found in 97.9% of America's neighborhoods.
Occupations
From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the 45th 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 96.6% of all American neighborhoods.
Diversity
Did you know that the 45th St / 8th Ave neighborhood has more Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 63.9% of this neighborhood's residents have Asian ancestry.
45th St / 8th Ave is also pretty special linguistically. Significantly, 49.5% of its residents five years old and above primarily speak Chinese at home. This is a higher percentage than 99.9% of all U.S. neighborhoods.
Migration / Stability
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. What is interesting to note, is that the 45th St / 8th Ave neighborhood has a greater percentage of residents born in another country (56.9%) than are found in 98.9% 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 45th St / 8th Ave neighborhood in Brooklyn are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 49.2% of the neighborhoods in America. With 21.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 70.7% of U.S. neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the 45th St / 8th Ave 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 21.4% of the residents employed. Other residents here are employed in executive, management, and professional occupations (20.8%), and 17.7% in clerical, assistant, and tech support 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 45th St / 8th Ave neighborhood is Chinese, spoken by 49.5% of households. Other important languages spoken here include English, Spanish, Polish and German/Yiddish.
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 45th St / 8th Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Asian (63.9%). There are also a number of people of Polish ancestry (6.9%), and residents who report Mexican roots (4.5%), and some of the residents are also of Russian ancestry (2.4%), along with some Italian ancestry residents (2.2%), among others. In addition, 56.9% 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 45th St / 8th Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (35.9% of working residents), longer and tougher than most commutes in America.
Here most residents (26.6%) 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 (21.1%) and 18.1% 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.
