50th St / 8th Ave median real estate price is $1,565,719, which is more expensive than 88.6% of the neighborhoods in New York and 96.6% of the neighborhoods in the U.S.
The average rental price in 50th St / 8th Ave is currently $2,928, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 50.4% of New York neighborhoods.
50th St / 8th Ave is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
50th St / 8th Ave 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 50th 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.
50th St / 8th Ave has a 13.6% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 75.4% 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.
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 97,439 people per square mile, it is more densely populated than 99.6% of America's neighborhoods. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The 50th St / 8th Ave neighborhood is among the top 5% of American neighborhoods in terms of walkability.
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 50th 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, 40.3% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 97.2% 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 71.4% of the residential real estate in the 50th St / 8th Ave neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 98.8% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
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 50th St / 8th Ave neighborhood has a highly unusual pattern of car ownership. 48.2% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.6% of U.S. neighborhoods.
In the 50th St / 8th Ave neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 21.0% of residents here. This is a higher proportion of walking commuters than we found in 98.3% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, in the 50th St / 8th Ave neighborhood, 24.7% 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 97.9% of the neighborhoods in America.
From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the 50th 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 97.4% of all American neighborhoods.
Of note, 61.4% 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.
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 50th St / 8th Ave neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 9.6% 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 95.2% of all neighborhoods in America.
Did you know that the 50th St / 8th Ave neighborhood has more Asian and Native American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 78.4% of this neighborhood's residents have Asian ancestry and 2.7% have Native American ancestry.
50th St / 8th Ave is also pretty special linguistically. Significantly, 74.6% 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.
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 50th St / 8th Ave neighborhood has a greater percentage of residents born in another country (65.5%) than are found in 99.5% 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 50th 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 63.1% of U.S. neighborhoods. With 61.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 97.3% 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 50th St / 8th Ave neighborhood, 40.9% 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 28.7% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (15.4%), and 15.0% 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 50th St / 8th Ave neighborhood is Chinese, spoken by 74.6% of households. Other important languages spoken here include English, Spanish, Langs. of India and Urdu (the national language of Pakistan).
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 50th St / 8th Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Asian (78.4%). There are also a number of people of Mexican ancestry (4.6%), and residents who report Polish roots (2.8%), and some of the residents are also of Native American ancestry (2.7%), along with some Dominican ancestry residents (2.1%), among others. In addition, 65.5% 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 50th St / 8th Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (34.0% of working residents), longer and tougher than most commutes in America.
Here most residents (26.8%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (24.7%) and 21.0% 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.
