E 55th St / 2nd Ave median real estate price is $1,436,348, which is more expensive than 86.5% of the neighborhoods in New York and 95.8% of the neighborhoods in the U.S.
The average rental price in E 55th St / 2nd Ave is currently $5,166, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 90.5% of the neighborhoods in New York.
E 55th St / 2nd Ave is a densely urban neighborhood (based on population density) located in New York, New York.
E 55th St / 2nd 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 E 55th St / 2nd Ave neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built before 1940.
Vacant apartments or homes are a major fact of life in E 55th St / 2nd Ave. The current real estate vacancy rate here is 18.8%. This is higher than the rate of vacancies in 85.2% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (12.7%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in New York, the E 55th St / 2nd Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 3.7% of America's neighborhoods are wealthier than the E 55th St / 2nd Ave neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. As one would expect in a considerably wealthy neighborhood such as this, E 55th St / 2nd Ave also has one of the lowest ratings of child poverty in the nation.
In addition, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 90.9% of the adults living in the E 55th St / 2nd Ave neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 99.8% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
Also, one of the most interesting things about the E 55th St / 2nd Ave neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 53.3% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 97.2% of the neighborhoods in America.
Finally, 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 E 55th St / 2nd Ave neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 96.6% 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 E 55th St / 2nd Ave neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for young, single professionals.
Car Ownership
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 E 55th St / 2nd Ave neighborhood have a highly unusual car ownership. 86.3% 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.
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 120,608 people per square mile, it is more densely populated than 99.8% of America'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 E 55th St / 2nd Ave neighborhood is among the top 5% of American neighborhoods in terms of walkability.
In addition, the real estate in the E 55th St / 2nd 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, 97.8% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.6% of American neighborhoods.
Furthermore, the E 55th St / 2nd 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 84.9% 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.
Modes of Transportation
In the E 55th St / 2nd 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 45.4% of residents here. This is a higher proportion of walking commuters than we found in 99.7% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, in the E 55th St / 2nd Ave neighborhood, 17.9% 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 96.9% of the neighborhoods in America.
Finally, if your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 2.6% of residents in the E 55th St / 2nd Ave neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 95.0% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.
Diversity
Did you know that the E 55th St / 2nd Ave neighborhood has more Russian and Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.6% of this neighborhood's residents have Russian ancestry and 1.5% have Armenian ancestry.
E 55th St / 2nd Ave is also pretty special linguistically. Significantly, 3.5% of its residents five years old and above primarily speak French at home. While this may seem like a small percentage, it is higher than 96.1% of the neighborhoods in America.
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 E 55th St / 2nd Ave neighborhood in New York 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 96.3% of the neighborhoods in America. In addition, 0.0% 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 100.0% of America's neighborhoods.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the E 55th St / 2nd Ave neighborhood, 65.3% 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 18.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (12.0%), and 4.5% 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 55th St / 2nd Ave neighborhood is English, spoken by 74.8% of households. Other important languages spoken here include Polish, Spanish and French.
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 E 55th St / 2nd Ave neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Asian (13.1%). There are also a number of people of Italian ancestry (9.5%), and residents who report Russian roots (7.6%), and some of the residents are also of German ancestry (6.8%), along with some Irish ancestry residents (6.6%), among others. In addition, 20.7% 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 E 55th St / 2nd Ave neighborhood spend under 15 minutes commuting one-way to work (35.1% of working residents), one of the shortest commutes across America.
Here most residents (45.4%) hop out the door and walk to work to get to work. In addition, quite a number also take the train to get to work (17.9%) . This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
