Central Business District median real estate price is $666,550, which is more expensive than 51.0% of the neighborhoods in New York and 78.8% of the neighborhoods in the U.S.
The average rental price in Central Business District is currently $1,788, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 76.0% of New York neighborhoods.
Central Business District is a densely urban neighborhood (based on population density) located in Rochester, New York.
Central Business District 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 Central Business District 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 1970 and 1999.
Vacant apartments or homes are a major fact of life in Central Business District. The current real estate vacancy rate here is 16.2%. This is higher than the rate of vacancies in 80.5% 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 Rochester, the Central Business District neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
Of note is NeighborhoodScout's research finding that the Central Business District neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Central Business District community truly stands out from the rest in this regard.
In addition, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 61.0%. This is a higher percent living alone than we found in 99.0% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.
Also, an extraordinary 16.9% of the residents of the Central Business District neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.
Real Estate
The real estate in the Central Business District 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, 91.1% 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.
In addition, renter-occupied real estate is dominant in the Central Business District neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 94.6%, which is higher than 97.9% 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.
Furthermore, the Central Business District 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 89.6% 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, 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 Central Business District neighborhood is one of the most walkable neighborhoods in America.
Modes of Transportation
In the Central Business District 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 11.0% of residents here. This is a higher proportion of walking commuters than we found in 95.4% of American neighborhoods. Get ready to put on your walking shoes if you move here!
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 Central Business District neighborhood has a highly unusual pattern of car ownership. 19.7% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 95.1% of U.S. neighborhoods.
Diversity
Did you know that the Central Business District neighborhood has more Swiss and Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.2% of this neighborhood's residents have Swiss ancestry and 6.2% have Arab ancestry.
Central Business District is also pretty special linguistically. Significantly, 6.4% of its residents five years old and above primarily speak Arabic at home. While this may seem like a small percentage, it is higher than 99.0% of the neighborhoods in America.
Migration / Stability
The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the Central Business District neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.0% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 Central Business District neighborhood in Rochester are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 100.0% of U.S. neighborhoods. 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 Central Business District neighborhood, 57.4% 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 21.6% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (11.6%), and 9.3% in clerical, assistant, and tech support 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 Central Business District neighborhood is English, spoken by 80.0% of households. Other important languages spoken here include Spanish, Arabic and Chinese.
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 Central Business District neighborhood in Rochester, NY, residents most commonly identify their ethnicity or ancestry as German (10.8%). There are also a number of people of Irish ancestry (9.9%), and residents who report English roots (8.5%), and some of the residents are also of Asian ancestry (8.0%), along with some Puerto Rican ancestry residents (7.4%), among others. In addition, 13.9% 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 Central Business District neighborhood spend between 15 and 30 minutes commuting one-way to work (45.1% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (77.8%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (11.0%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
