Melrose median real estate price is $242,441, which is less expensive than 81.9% of New York neighborhoods and 72.9% of all U.S. neighborhoods.
The average rental price in Melrose is currently $2,694, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 59.9% of New York neighborhoods.
Melrose is a densely urban neighborhood (based on population density) located in Bronx, New York.
Melrose 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 Melrose neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
In Melrose, the current vacancy rate is 1.6%, which is a lower rate of vacancies than 87.7% of all neighborhoods in the U.S. This means that the housing supply in Melrose is very tight compared to the demand for property here.
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.
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 107,362 people per square mile, it is more densely populated than 99.7% of America's neighborhoods.
In addition, one of the really unique and interesting things about the look and setting of the Melrose neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 94.1% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 98.8% of all neighborhoods in America.
Furthermore, the Melrose 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 93.6% 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, renter-occupied real estate is dominant in the Melrose neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 92.8%, which is higher than 97.5% 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.
Finally, homes built from 2000 through today make up a higher proportion of the Melrose neighborhood's real estate landscape than 97.5% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 82.6% of the residential real estate here is classified as newer. In fact, the concentration of newer homes here is so great that they completely dominate the landscape. In most neighborhoods, there is a mixture of ages of residential real estate, but here it is almost completely built during one time frame: 2000 through today.
American households most often have a car, and regularly they have two or three. But households in the Melrose neighborhood buck this trend. 63.0% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.3% of U.S. neighborhoods.
If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 40.8% of the Melrose neighborhood's commuters ride the train to and from work each day, which is more than we found in 99.1% of America's neighborhoods.
Also, our research revealed that more commuters here take the bus to work (15.2% ride the bus) than 97.7% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.
Finally, more people in Melrose choose to walk to work each day (10.7%) 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.
Whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the Melrose neighborhood has more single mother households than 98.9% of the neighborhoods in the U.S. Often high concentrations of single mother homes can be a strong indicator of family and social issues such as poverty, high rates of school dropouts, crime, and other societal problems.
Did you know that the Melrose neighborhood has more Puerto Rican and Dominican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 21.8% of this neighborhood's residents have Puerto Rican ancestry and 15.3% have Dominican ancestry.
Melrose is also pretty special linguistically. Significantly, 5.7% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 98.9% 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 Melrose neighborhood in Bronx are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 93.7% of U.S. neighborhoods. With 25.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 77.3% of U.S. neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the Melrose neighborhood, 33.2% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 27.3% of the residents employed. Other residents here are employed in executive, management, and professional occupations (27.0%), and 12.5% 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 Melrose neighborhood is English, spoken by 51.6% of households. Other important languages spoken here include Spanish, African languages 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 Melrose neighborhood in Bronx, NY, residents most commonly identify their ethnicity or ancestry as Puerto Rican (21.8%). There are also a number of people of Dominican ancestry (15.3%), and residents who report Sub-Saharan African roots (9.7%), and some of the residents are also of African ancestry (4.6%), along with some South American ancestry residents (2.0%), among others. In addition, 21.5% 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 Melrose neighborhood spend between 45 minutes and one hour commuting one-way to work (42.0% of working residents), longer and tougher than most commutes in America.
Here most residents (40.8%) take the train to get to work. In addition, quite a number also ride the bus to get to work (15.2%) and 14.9% of residents also drive alone in a private automobile 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.
