Madison St / Nostrand Ave median real estate price is $2,413,794, which is more expensive than 96.3% of the neighborhoods in New York and 99.0% of the neighborhoods in the U.S.
The average rental price in Madison St / Nostrand Ave is currently $4,107, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 76.3% of the neighborhoods in New York.
Madison St / Nostrand Ave is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
Madison St / Nostrand 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 Madison St / Nostrand 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 2000 and the present.
Real estate vacancies in Madison St / Nostrand Ave are 4.4%, which is lower than one will find in 70.8% of American neighborhoods. Demand for real estate in Madison St / Nostrand Ave is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.
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 66,081 people per square mile, it is more densely populated than 99.0% 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 Madison St / Nostrand 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 Madison St / Nostrand 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, 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 Madison St / Nostrand 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.
In the Madison St / Nostrand Ave neighborhood, 53.8% 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 99.6% of the neighborhoods in America.
American households most often have a car, and regularly they have two or three. But households in the Madison St / Nostrand Ave neighborhood buck this trend. 54.7% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.0% of U.S. neighborhoods.
Did you know that the Madison St / Nostrand Ave neighborhood has more Haitian and Sub-Saharan African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.7% of this neighborhood's residents have Haitian ancestry and 10.6% have Sub-Saharan African ancestry.
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 Madison St / Nostrand Ave neighborhood in Brooklyn are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 76.3% of the neighborhoods in America. With 12.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 54.1% 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 Madison St / Nostrand Ave neighborhood, 56.5% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 19.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (15.6%), and 8.5% in manufacturing and laborer occupations.
The most common language spoken in the Madison St / Nostrand Ave neighborhood is English, spoken by 82.3% of households. Some people also speak Spanish (3.0%).
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 Madison St / Nostrand Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (10.6%). There are also a number of people of German ancestry (8.8%), and residents who report Asian roots (8.5%), and some of the residents are also of Irish ancestry (7.4%), along with some English ancestry residents (5.3%), among others. In addition, 22.1% 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 Madison St / Nostrand Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (40.8% of working residents), longer and tougher than most commutes in America.
Here most residents (53.8%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (13.3%) and 5.6% 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.