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Real Estate Prices & Overview

Central Avenue median real estate price is $220,061, which is less expensive than 84.2% of New York neighborhoods and 75.3% of all U.S. neighborhoods.

The average rental price in Central Avenue is currently $1,343, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 90.9% of New York neighborhoods.

Central Avenue is a densely urban neighborhood (based on population density) located in Albany, New York.

Central Avenue real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the Central Avenue 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 Avenue. The current real estate vacancy rate here is 28.0%. This is higher than the rate of vacancies in 93.7% 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.

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

Three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The Central Avenue neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 75.4% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 99.9% of America's neighborhoods.

In addition, 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 Avenue neighborhood is one of the most walkable neighborhoods in America.

Furthermore, renter-occupied real estate is dominant in the Central Avenue neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 88.1%, which is higher than 96.3% 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.

Also of note, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Central Avenue neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 64.8% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 97.6% of the neighborhoods in the United States.

Modes of Transportation

More people ride the bus in this neighborhood each day to get to work than 99.8% of U.S. neighborhoods.

Also, more people in Central Avenue choose to walk to work each day (19.6%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.

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 Avenue neighborhood has a highly unusual pattern of car ownership. 69.6% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.6% of U.S. neighborhoods.

People

One of the most interesting things about the Central Avenue neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 53.0% 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 97.0% of the neighborhoods in America.

In addition, one of the unique characteristics of the Central Avenue neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 97.0% of the neighborhoods in America.

Diversity

Did you know that the Central Avenue neighborhood has more Jamaican and Dominican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 22.4% of this neighborhood's residents have Jamaican ancestry and 5.2% have Dominican ancestry.

The Neighbors

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 Avenue neighborhood in Albany are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 97.0% of U.S. neighborhoods. With 18.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 65.9% 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 Central Avenue neighborhood, 39.1% of the working population is employed in clerical, assistant, and tech support occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 29.4% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (25.5%), and 6.0% in executive, management, and professional 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 Avenue neighborhood is English, spoken by 86.4% of households. Other important languages spoken here include Spanish and French.

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 Central Avenue neighborhood in Albany, NY, residents most commonly identify their ethnicity or ancestry as Jamaican (22.4%). There are also a number of people of Irish ancestry (6.0%), and residents who report Dominican roots (5.2%), and some of the residents are also of Puerto Rican ancestry (4.7%), along with some Sub-Saharan African ancestry residents (4.4%), among others. In addition, 19.4% 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 Central Avenue neighborhood spend between 15 and 30 minutes commuting one-way to work (48.5% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (35.5%) ride the bus to get to work. In addition, quite a number also drive alone in a private automobile to get to work (27.4%) and 19.6% of residents also hop out the door and walk to work for their daily commute. The bus provides a valuable service in the Central Avenue neighborhood of Albany by getting a lot of residents to and from work daily, reducing the costs of commuting and reducing some congestion on the roads as well.


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