55th St / 7th Ave median real estate price is $1,226,115, which is more expensive than 80.9% of the neighborhoods in New York and 93.7% of the neighborhoods in the U.S.
The average rental price in 55th St / 7th Ave is currently $2,748, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 54.8% of New York neighborhoods.
55th St / 7th Ave is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
55th St / 7th 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 55th St / 7th 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 1970 and 1999.
Vacant apartments or homes are a major fact of life in 55th St / 7th Ave. The current real estate vacancy rate here is 16.9%. This is higher than the rate of vacancies in 82.9% 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.
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.
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the 55th St / 7th Ave neighborhood have a highly unusual car ownership. 87.3% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.9% of U.S. neighborhoods.
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 104,274 people per square mile, it is more densely populated than 99.7% 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 55th St / 7th 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 55th St / 7th 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, 56.5% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 99.0% of America's neighborhoods.
Furthermore, 84.2% of the real estate in the 55th St / 7th Ave neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Also of note, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The 55th St / 7th Ave neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 58.2% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 96.2% of the neighborhoods in the United States.
More people ride the bus in this neighborhood each day to get to work than 99.3% of U.S. neighborhoods.
Also, in the 55th St / 7th 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 23.7% of residents here. This is a higher proportion of walking commuters than we found in 98.6% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Finally, in the 55th St / 7th Ave neighborhood, 33.7% 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 98.5% of the neighborhoods in America.
Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The 55th St / 7th Ave neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the 55th St / 7th Ave neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 14.1% 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 98.4% of all 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 55th St / 7th Ave neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 95.3% of all American neighborhoods.
Did you know that the 55th St / 7th Ave neighborhood has more Asian and Native American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 78.0% of this neighborhood's residents have Asian ancestry and 8.5% have Native American ancestry.
55th St / 7th Ave is also pretty special linguistically. Significantly, 66.4% 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 55th St / 7th Ave neighborhood has a greater percentage of residents born in another country (60.7%) than are found in 99.2% 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 55th St / 7th Ave neighborhood in Brooklyn are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 86.9% of U.S. neighborhoods. With 46.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 92.6% 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 55th St / 7th Ave neighborhood, 37.6% 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 22.8% of the residents employed. Other residents here are employed in executive, management, and professional occupations (22.7%), and 16.9% 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 55th St / 7th Ave neighborhood is Chinese, spoken by 66.4% of households. Other important languages spoken here include English and Spanish.
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 55th St / 7th Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Asian (78.0%). There are also a number of people of Mexican ancestry (8.6%), and residents who report Native American roots (8.5%), and some of the residents are also of Dominican ancestry (1.8%), along with some South American ancestry residents (1.6%), among others. In addition, 60.7% 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 55th St / 7th Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (43.1% of working residents), longer and tougher than most commutes in America.
Here most residents (33.7%) 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 (23.7%) and 23.6% of residents also ride the bus 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.
