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Real Estate Prices & Overview

W 118th St / 5th Ave median real estate price is $1,171,491, which is more expensive than 80.5% of the neighborhoods in New York and 93.5% of the neighborhoods in the U.S.

The average rental price in W 118th St / 5th Ave is currently $2,703, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 57.6% of New York neighborhoods.

W 118th St / 5th Ave is a densely urban neighborhood (based on population density) located in New York, New York.

W 118th St / 5th 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 small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the W 118th St / 5th Ave neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

W 118th St / 5th Ave has a 12.7% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 71.7% 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.

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.

Modes of Transportation

In the W 118th St / 5th Ave neighborhood, 57.0% 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 99.7% of the neighborhoods in America.

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 91,802 people per square mile, it is more densely populated than 99.5% of America's neighborhoods.

In addition, the real estate in the W 118th St / 5th Ave neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 90.9% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.4% of American neighborhoods.

Furthermore, the W 118th St / 5th 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 85.1% 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.

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 W 118th St / 5th Ave neighborhood has a highly unusual pattern of car ownership. 53.3% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.9% of U.S. neighborhoods.

People

Some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 35.7% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 95.3% of U.S. neighborhoods, where the average American neighborhood has 13.4% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.

Diversity

Did you know that the W 118th St / 5th Ave neighborhood has more Dominican and African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 10.3% of this neighborhood's residents have Dominican ancestry and 9.9% have African ancestry.

W 118th St / 5th Ave is also pretty special linguistically. Significantly, 5.7% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 98.9% of the neighborhoods in America.

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 W 118th St / 5th Ave neighborhood in New York are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 71.1% of the neighborhoods in America. With 26.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 76.9% 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 W 118th St / 5th Ave neighborhood, 64.8% 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 16.1% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (15.4%), and 6.4% 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 W 118th St / 5th Ave neighborhood is English, spoken by 62.6% of households. Other important languages spoken here include Spanish, French, African languages 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 W 118th St / 5th Ave neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (14.7%). There are also a number of people of Dominican ancestry (10.3%), and residents who report African roots (9.9%), and some of the residents are also of Asian ancestry (9.2%), along with some Puerto Rican ancestry residents (5.6%), among others. In addition, 29.8% of the residents of this neighborhood were born in another country.

Getting to Work

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 W 118th St / 5th Ave neighborhood spend between 30 and 45 minutes commuting one-way to work (46.1% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (57.0%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (9.3%) and 8.9% 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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