Monroe St / Franklin Ave median real estate price is $1,957,231, which is more expensive than 92.1% of the neighborhoods in New York and 97.7% of the neighborhoods in the U.S.
The average rental price in Monroe St / Franklin Ave is currently $5,337, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 93.0% of the neighborhoods in New York.
Monroe St / Franklin Ave is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
Monroe St / Franklin 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 Monroe St / Franklin 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.
Monroe St / Franklin Ave has a 9.4% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 60.2% 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.
The Monroe St / Franklin Ave neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 59,128 persons per square mile in the neighborhood, it is more packed with people than 98.8% of the nation'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 Monroe St / Franklin 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 Monroe St / Franklin 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, 51.3% 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 60.9% of the residential real estate in the Monroe St / Franklin Ave neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 96.9% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
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 Monroe St / Franklin Ave neighborhood have a highly unusual car ownership. 64.8% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.4% of U.S. neighborhoods.
In the Monroe St / Franklin Ave neighborhood, 47.0% 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 99.4% of the neighborhoods in America.
Also, in the Monroe St / Franklin Ave neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 34.9% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 97.5% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
If you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Monroe St / Franklin Ave neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 97.5% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Monroe St / Franklin Ave neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for young, single professionals and highly educated executives.
In addition, the rate of college educated adults in the Monroe St / Franklin Ave neighborhood is a unique characteristic of the neighborhood. 75.2% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 35.0% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 96.0% of all U.S. neighborhoods.
The Monroe St / Franklin Ave neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 96.0% of the neighborhoods in America. In fact, 71.9% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Did you know that the Monroe St / Franklin Ave neighborhood has more Greek and Canadian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.3% of this neighborhood's residents have Greek ancestry and 1.2% have Canadian ancestry.
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 Monroe St / Franklin Ave neighborhood in Brooklyn are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 87.9% of the neighborhoods in America. In addition, 3.3% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 69.9% of America'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 Monroe St / Franklin Ave neighborhood, 71.9% 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 18.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (8.3%), and 3.4% in government jobs, whether they are in local, state, or federal positions.
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 Monroe St / Franklin Ave neighborhood is English, spoken by 82.0% of households. Other important languages spoken here include Spanish and Polish.
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 Monroe St / Franklin Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Irish (9.3%). There are also a number of people of Italian ancestry (6.7%), and residents who report German roots (5.2%), and some of the residents are also of English ancestry (4.6%), along with some South American ancestry residents (4.0%), among others. In addition, 17.7% 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 Monroe St / Franklin Ave neighborhood spend between 30 and 45 minutes commuting one-way to work (38.4% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (47.0%) 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 (6.8%) . 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.
