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.
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 55th St / 7th Ave neighborhood has a highly unusual pattern of 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. 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 55th St / 7th Ave neighborhood is one of the most walkable neighborhoods in America.
In addition, 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 55th St / 7th Ave 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 56.5% of the real estate here is made up of such dwellings, which is higher than 99.0% of all U.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.
Our research revealed that more commuters here take the bus to work (23.6% ride the bus) than 99.3% 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 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, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 33.7% of the 55th St / 7th Ave neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.5% of America's neighborhoods.
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.
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. 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.
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 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
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
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.
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 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.
