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Real Estate Prices & Overview

40th St / 6th Ave median real estate price is $916,451, which is more expensive than 65.4% of the neighborhoods in New York and 82.9% of the neighborhoods in the U.S.

The average rental price in 40th St / 6th Ave is currently $3,974, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 70.0% of the neighborhoods in New York.

40th St / 6th Ave is a densely urban neighborhood (based on population density) located in Brooklyn, New York.

40th St / 6th 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 renter occupied. Many of the residences in the 40th St / 6th 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.

Real estate vacancies in 40th St / 6th Ave are 4.9%, which is lower than one will find in 64.5% of American neighborhoods. Demand for real estate in 40th St / 6th Ave 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 Brooklyn, the 40th St / 6th Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

The 40th St / 6th Ave neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 44,559 persons per square mile in the neighborhood, it is more packed with people than 98.2% of the nation'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 40th St / 6th Ave neighborhood is among the top 5% of American neighborhoods in terms of walkability.

In addition, 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 72.5% of the residential real estate in the 40th St / 6th Ave neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 99.0% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

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 40th St / 6th Ave neighborhood has a highly unusual pattern of 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.

Modes of Transportation

If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 41.4% of the 40th St / 6th Ave 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 (17.4% ride the bus) than 98.3% 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, if your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 3.7% of residents in the 40th St / 6th Ave neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 96.8% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Diversity

Did you know that the 40th St / 6th Ave neighborhood has more Arab and Cuban ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 11.2% of this neighborhood's residents have Arab ancestry and 5.5% have Cuban ancestry.

40th St / 6th Ave is also pretty special linguistically. Significantly, 9.4% of its residents five years old and above primarily speak Arabic at home. While this may seem like a small percentage, it is higher than 99.5% of the neighborhoods in America.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the 40th St / 6th Ave neighborhood. More residents of the 40th St / 6th Ave neighborhood live here today that also were living in this same neighborhood five years ago than is found in 98.2% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while.

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 40th St / 6th Ave neighborhood in Brooklyn are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 68.2% of the neighborhoods in America. With 31.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 83.2% 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 40th St / 6th Ave neighborhood, 47.1% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 24.9% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (20.8%), and 7.1% 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 40th St / 6th Ave neighborhood is Spanish, spoken by 36.9% of households. Other important languages spoken here include English, Chinese, Arabic and Polish.

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 40th St / 6th Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Mexican (28.4%). There are also a number of people of Asian ancestry (17.7%), and residents who report Arab roots (11.2%), and some of the residents are also of Italian ancestry (9.2%), along with some Cuban ancestry residents (5.5%), among others. In addition, 42.0% 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 40th St / 6th Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (50.7% of working residents), longer and tougher than most commutes in America.

Here most residents (41.4%) take the train to get to work. In addition, quite a number also ride the bus to get to work (17.4%) and 11.6% 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.

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