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Real Estate Prices & Overview

E 108th St / Madison Ave median real estate price is $1,413,974, which is more expensive than 87.3% of the neighborhoods in New York and 96.0% of the neighborhoods in the U.S.

The average rental price in E 108th St / Madison Ave is currently $2,624, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 59.3% of New York neighborhoods.

E 108th St / Madison Ave is a densely urban neighborhood (based on population density) located in New York, New York.

E 108th St / Madison 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 townhomes. Most of the residential real estate is renter occupied. Many of the residences in the E 108th St / Madison Ave neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Real estate vacancies in E 108th St / Madison Ave are 5.6%, which is lower than one will find in 62.5% of American neighborhoods. Demand for real estate in E 108th St / Madison 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.

Notable & Unique Neighborhood Characteristics

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.

Real Estate

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 139,992 people per square mile, it is more densely populated than 99.9% of America's neighborhoods.

In addition, one of the really unique and interesting things about the look and setting of the E 108th St / Madison Ave neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 98.0% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 99.6% of all neighborhoods in America.

Furthermore, the E 108th St / Madison Ave neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 89.0% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

Also of note, renter-occupied real estate is dominant in the E 108th St / Madison Ave neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 88.6%, which is higher than 96.4% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.

Car Ownership

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 E 108th St / Madison Ave neighborhood has a highly unusual pattern of car ownership. 79.2% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.8% of U.S. neighborhoods.

Modes of Transportation

If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 53.4% of the E 108th St / Madison Ave neighborhood's commuters ride the train to and from work each day, which is more than we found in 99.6% of America's neighborhoods.

Also, our research revealed that more commuters here take the bus to work (18.0% ride the bus) than 98.2% 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.

Diversity

Did you know that the E 108th St / Madison Ave neighborhood has more Dominican and Jamaican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 25.2% of this neighborhood's residents have Dominican ancestry and 6.4% have Jamaican ancestry.

The Neighbors

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 E 108th St / Madison Ave neighborhood in New York are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 92.0% of U.S. neighborhoods. With 48.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 93.5% 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 E 108th St / Madison Ave neighborhood, 39.7% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 26.9% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (26.8%), and 6.2% in manufacturing and laborer 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 E 108th St / Madison Ave neighborhood is English, spoken by 55.2% of households. Other important languages spoken here include Spanish and Chinese.

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 E 108th St / Madison Ave neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Dominican (25.2%). There are also a number of people of Puerto Rican ancestry (11.3%), and residents who report Asian roots (8.8%), and some of the residents are also of Jamaican ancestry (6.4%), along with some Sub-Saharan African ancestry residents (3.4%), among others. In addition, 30.1% of the residents of this neighborhood were born in another country.

Getting to Work

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 E 108th St / Madison Ave neighborhood spend between 30 and 45 minutes commuting one-way to work (48.9% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (53.4%) take the train to get to work. In addition, quite a number also ride the bus to get to work (18.0%) and 7.8% of residents also hop out the door and walk to work 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.


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