Melrose median real estate price is $269,282, which is less expensive than 76.7% of New York neighborhoods and 65.7% of all U.S. neighborhoods.
The average rental price in Melrose is currently $2,623, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 59.3% 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 1.1%, which is a lower rate of vacancies than 91.0% 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.
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 Bronx, the Melrose neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
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, the real estate in the Melrose 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, 93.7% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.8% of American neighborhoods.
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 91.4% 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, 93.8% of the real estate in the Melrose neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Finally, if you like the look and ambience of new homes and newly built neighborhoods, you will love the Melrose neighborhood. A whopping 74.2% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 96.6% of the neighborhoods in the U.S. Everything here just feels new.
Car Ownership
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Melrose neighborhood have a highly unusual car ownership. 68.2% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.5% of U.S. neighborhoods.
Modes of Transportation
In the Melrose neighborhood, 44.4% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 99.1% of the neighborhoods in America.
Also, more people ride the bus in this neighborhood each day to get to work than 97.0% of U.S. neighborhoods.
Finally, in the Melrose 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 14.5% of residents here. This is a higher proportion of walking commuters than we found in 96.9% of American neighborhoods. Get ready to put on your walking shoes if you move here!
People
Single parenting is hard. But you don't have to tell the Melrose neighborhood about it; they already know. 19.4% of this neighborhood's households are run by single mothers, which is a higher concentration than NeighborhoodScout found in 96.7% of American neighborhoods. Further NeighborhoodScout research showed strong statistical correlations among high rates of children living in single parent households, and neighborhood crime, particularly violent crime, neighborhood poverty, and, importantly, the percentage of low weight births and rates of infant mortality.
Diversity
Did you know that the Melrose neighborhood has more Dominican and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 24.7% of this neighborhood's residents have Dominican ancestry and 30.7% have Puerto Rican 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 31.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 82.3% 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 Melrose neighborhood, 36.4% 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 executive, management, and professional occupations, with 31.1% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (17.8%), and 14.7% 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 Melrose neighborhood is Spanish, spoken by 47.1% of households. Other important languages spoken here include English, African languages and French.
Ethnicity / Ancestry
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the Melrose neighborhood in Bronx, NY, residents most commonly identify their ethnicity or ancestry as Puerto Rican (30.7%). There are also a number of people of Dominican ancestry (24.7%), and residents who report Sub-Saharan African roots (5.3%), and some of the residents are also of African ancestry (4.0%), along with some South American ancestry residents (2.6%), among others. In addition, 19.5% 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 (36.9% of working residents), longer and tougher than most commutes in America.
Here most residents (44.4%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (14.9%) and 14.5% of residents also hop out the door and walk to work 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.
