14th St / 5th Ave median real estate price is $2,151,439, which is more expensive than 95.3% of the neighborhoods in New York and 98.7% of the neighborhoods in the U.S.
The average rental price in 14th St / 5th Ave is currently $5,542, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 93.1% of the neighborhoods in New York.
14th St / 5th Ave is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
14th St / 5th Ave 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 occupied by a mixture of owners and renters. Many of the residences in the 14th St / 5th Ave 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.
Vacant apartments or homes are a major fact of life in 14th St / 5th Ave. The current real estate vacancy rate here is 16.0%. This is higher than the rate of vacancies in 80.1% 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.
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 Brooklyn, the 14th St / 5th Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
Of note is NeighborhoodScout's research finding that the 14th St / 5th Ave neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the 14th St / 5th Ave community truly stands out from the rest in this regard.
In addition, think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the 14th St / 5th Ave neighborhood: a neighborhood in which more "urban sophisticates" live than 98.7% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives and young, single professionals.
Also, the rate of college educated adults in the 14th St / 5th Ave neighborhood is a unique characteristic of the neighborhood. 74.7% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 34.3% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 96.0% of all U.S. neighborhoods.
Real Estate
The 14th St / 5th Ave neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 55,349 persons per square mile in the neighborhood, it is more packed with people than 98.7% of the nation's neighborhoods. 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 14th St / 5th Ave neighborhood is one of the most walkable neighborhoods in America.
In addition, 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 14th St / 5th Ave 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, 36.4% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 96.4% of America's neighborhoods.
Furthermore, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 71.0% of the residential real estate in the 14th St / 5th Ave neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 98.7% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
Modes of Transportation
If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 49.1% of the 14th St / 5th Ave neighborhood's commuters ride the train to and from work each day, which is more than we found in 99.4% of America's neighborhoods.
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 14th St / 5th Ave neighborhood has a highly unusual pattern of car ownership. 53.9% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.9% of U.S. neighborhoods.
Diversity
Did you know that the 14th St / 5th Ave neighborhood has more Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.3% of this neighborhood's residents have Eastern European ancestry.
14th St / 5th Ave is also pretty special linguistically. Significantly, 2.7% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 99.2% of the neighborhoods in America.
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the 14th St / 5th Ave neighborhood in Brooklyn are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 92.4% of the neighborhoods in America. 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 14th St / 5th Ave neighborhood, 67.9% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 18.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.2%), and 4.8% 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 14th St / 5th Ave neighborhood is English, spoken by 76.2% of households. Other important languages spoken here include Spanish, Korean, Chinese and Portuguese.
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 14th St / 5th Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Asian (18.8%). There are also a number of people of Italian ancestry (10.9%), and residents who report German roots (10.3%), and some of the residents are also of English ancestry (10.2%), along with some Irish ancestry residents (9.0%), among others. In addition, 18.0% 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 14th St / 5th Ave neighborhood spend between 30 and 45 minutes commuting one-way to work (42.7% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (49.1%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (15.9%) and 6.2% 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.
