W 87th St / Riverside Dr median real estate price is $3,479,177, which is more expensive than 94.8% of the neighborhoods in New York and 98.5% of the neighborhoods in the U.S.
The average rental price in W 87th St / Riverside Dr is currently $4,426, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 84.6% of the neighborhoods in New York.
W 87th St / Riverside Dr is a densely urban neighborhood (based on population density) located in New York, New York.
W 87th St / Riverside Dr 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 87th St / Riverside Dr 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 1940 and 1969.
Vacant apartments or homes are a major fact of life in W 87th St / Riverside Dr. The current real estate vacancy rate here is 21.4%. This is higher than the rate of vacancies in 89.2% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, 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 W 87th St / Riverside Dr neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the W 87th St / Riverside Dr neighborhood is wealthier than 97.1% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood. As one would expect in a considerably wealthy neighborhood such as this, W 87th St / Riverside Dr also has one of the lowest ratings of child poverty in the nation.
In addition, think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the W 87th St / Riverside Dr neighborhood: a neighborhood in which more "urban sophisticates" live than 99.5% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for active retirees and highly educated executives.
Also, if knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the W 87th St / Riverside Dr neighborhood, where 50.9% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.7% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 99.2% of the neighborhoods in America.
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 132,661 people per square mile, it is more densely populated than 99.9% 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 W 87th St / Riverside Dr neighborhood is one of the most walkable neighborhoods in America.
In addition, the real estate in the W 87th St / Riverside Dr 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, 94.5% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.9% of American 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 83.0% of the residential real estate in the W 87th St / Riverside Dr neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 99.8% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
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 87th St / Riverside Dr neighborhood has a highly unusual pattern of car ownership. 65.3% 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 W 87th St / Riverside Dr neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 40.0% 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 99.0% 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.
Also, would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the W 87th St / Riverside Dr neighborhood is a fantastic option for bicycle commuters, as 6.2% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 98.9% of the neighborhoods in America.
Finally, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 34.8% of the W 87th St / Riverside Dr neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.6% of America's neighborhoods.
Executives, managers and professionals make up 73.0% of the workforce in the W 87th St / Riverside Dr neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 96.5% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Did you know that the W 87th St / Riverside Dr neighborhood has more Austrian and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.8% of this neighborhood's residents have Austrian ancestry and 6.7% have Russian ancestry.
W 87th St / Riverside Dr is also pretty special linguistically. Significantly, 1.0% of its residents five years old and above primarily speak Native American languages at home. While this may seem like a small percentage, it is higher than 97.6% 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 W 87th St / Riverside Dr 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 97.1% 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.
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 87th St / Riverside Dr neighborhood, 73.0% 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 18.2% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (8.6%), and 5.8% 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 W 87th St / Riverside Dr neighborhood is English, spoken by 72.6% of households. Other important languages spoken here include Spanish and French.
Ethnicity / Ancestry
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the W 87th St / Riverside Dr neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as German (12.7%). There are also a number of people of Irish ancestry (10.3%), and residents who report Mexican roots (10.1%), and some of the residents are also of English ancestry (7.9%), along with some Russian ancestry residents (6.7%), among others. In addition, 18.7% 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 W 87th St / Riverside Dr neighborhood spend between 30 and 45 minutes commuting one-way to work (42.1% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (34.8%) 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 (9.8%) and 6.2% of residents also bicycle 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.
