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Real Estate Prices & Overview

Norwood Southwest median real estate price is $395,835, which is less expensive than 69.1% of New York neighborhoods and 48.3% of all U.S. neighborhoods.

The average rental price in Norwood Southwest is currently $3,256, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 49.4% of New York neighborhoods.

Norwood Southwest is a densely urban neighborhood (based on population density) located in Bronx, New York.

Norwood Southwest 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 Norwood Southwest 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 1940 and 1969.

In Norwood Southwest, the current vacancy rate is 2.5%, which is a lower rate of vacancies than 81.8% of all neighborhoods in the U.S. This means that the housing supply in Norwood Southwest is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

Modes of Transportation

If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 51.9% of the Norwood Southwest neighborhood's commuters ride the train to and from work each day, which is more than we found in 99.7% of America's neighborhoods.

Also, more people ride the bus in this neighborhood each day to get to work than 99.5% of U.S. neighborhoods.

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 Norwood Southwest neighborhood have a highly unusual car ownership. 69.8% 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.

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 68,471 people per square mile, it is more densely populated than 99.1% of America's neighborhoods. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The Norwood Southwest neighborhood is among the top 5% of American neighborhoods in terms of walkability.

In addition, the real estate in the Norwood Southwest 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, 93.5% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.7% of American neighborhoods.

Furthermore, the Norwood Southwest 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 94.0% 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, 89.3% of the real estate in the Norwood Southwest neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

Diversity

Did you know that the Norwood Southwest neighborhood has more Dominican and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 34.4% of this neighborhood's residents have Dominican ancestry and 14.7% have Puerto Rican ancestry.

Norwood Southwest is also pretty special linguistically. Significantly, 71.2% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 97.6% of all U.S. neighborhoods.

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. What is interesting to note, is that the Norwood Southwest neighborhood has a greater percentage of residents born in another country (51.8%) than are found in 97.8% of all U.S. neighborhoods.

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 Norwood Southwest neighborhood in Bronx are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 79.5% of U.S. neighborhoods. With 34.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 85.5% of U.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 Norwood Southwest neighborhood, 33.3% 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 31.1% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (18.8%), and 16.7% in executive, management, and professional occupations.

Languages

The most common language spoken in the Norwood Southwest neighborhood is Spanish, spoken by 71.2% of households. Some people also speak English (20.6%).

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 Norwood Southwest neighborhood in Bronx, NY, residents most commonly identify their ethnicity or ancestry as Dominican (34.4%). There are also a number of people of Puerto Rican ancestry (14.7%), and residents who report South American roots (10.9%), and some of the residents are also of Asian ancestry (6.6%), along with some Mexican ancestry residents (4.2%), among others. In addition, 51.8% 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 Norwood Southwest neighborhood spend between 45 minutes and one hour commuting one-way to work (52.8% of working residents), longer and tougher than most commutes in America.

Here most residents (51.9%) take the train to get to work. In addition, quite a number also ride the bus to get to work (25.6%) and 10.7% 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.


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