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Real Estate Prices & Overview

Park South / Albany College of Pharmacy median real estate price is $334,683, which is less expensive than 72.0% of New York neighborhoods and 56.3% of all U.S. neighborhoods.

The average rental price in Park South / Albany College of Pharmacy is currently $2,440, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 64.0% of New York neighborhoods.

Park South / Albany College of Pharmacy is an urban neighborhood (based on population density) located in Albany, New York.

Park South / Albany College of Pharmacy 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 renter occupied. Many of the residences in the Park South / Albany College of Pharmacy 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 2000 and the present.

Real estate vacancies in Park South / Albany College of Pharmacy are 4.1%, which is lower than one will find in 70.8% of American neighborhoods. Demand for real estate in Park South / Albany College of Pharmacy is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

Notable & Unique Neighborhood Characteristics

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 Albany, the Park South / Albany College of Pharmacy neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

In a nation where 1 out of every 4 children lives in poverty, the Park South / Albany College of Pharmacy neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, neighborhoodScout's analysis shows that the Park South / Albany College of Pharmacy neighborhood has a greater concentration of residents currently enrolled in college than 98.0% of the neighborhoods in the U.S. With 22.0% of the population here attending college, this is very much a college-focused neighborhood.

Modes of Transportation

More people in Park South / Albany College of Pharmacy choose to walk to work each day (25.3%) 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.

Real Estate

Corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the Park South / Albany College of Pharmacy neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 39.5% of the real estate here is made up of such dwellings, which is higher than 97.1% of all U.S. neighborhoods.

In addition, renter-occupied real estate is dominant in the Park South / Albany College of Pharmacy neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 87.9%, which is higher than 96.2% 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.

Diversity

Significantly, 4.2% of its residents five years old and above primarily speak Urdu, which is the national language of Pakistan, at home. While this may seem like a small percentage, it is higher than 99.7% of the neighborhoods in America.

Migration / Stability

Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. In the Park South / Albany College of Pharmacy neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 96.6% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

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 Park South / Albany College of Pharmacy 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 93.2% 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 Park South / Albany College of Pharmacy neighborhood, 36.4% 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 28.0% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (19.6%), and 15.5% 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 Park South / Albany College of Pharmacy neighborhood is English, spoken by 87.1% of households. Other important languages spoken here include Urdu (the national language of Pakistan), Tagalog (the first language of the Philippine region), Polish and Spanish.

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 Park South / Albany College of Pharmacy neighborhood in Albany, NY, residents most commonly identify their ethnicity or ancestry as Italian (12.3%). There are also a number of people of Asian ancestry (8.5%), and residents who report Irish roots (8.0%), and some of the residents are also of German ancestry (6.6%), along with some Sub-Saharan African ancestry residents (5.7%), among others. In addition, 12.3% 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 Park South / Albany College of Pharmacy neighborhood spend under 15 minutes commuting one-way to work (43.9% of working residents), one of the shortest commutes across America.

Here most residents (54.5%) 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 (25.3%) and 7.6% of residents also carpool with coworkers, friends, or neighbors for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.

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