47th St / 12th Ave median real estate price is $2,297,051, which is more expensive than 95.4% of the neighborhoods in New York and 98.7% of the neighborhoods in the U.S.
The average rental price in 47th St / 12th Ave is currently $2,931, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 52.6% of New York neighborhoods.
47th St / 12th Ave is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
47th St / 12th Ave real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the 47th St / 12th 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 1940 and 1969.
47th St / 12th Ave has a 15.4% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 78.8% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
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.
Length of Commute
Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the 47th St / 12th Ave neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 23.6% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 99.8% of all neighborhoods in America.
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 82,808 people per square mile, it is more densely populated than 99.4% of America'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 47th St / 12th 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 47th St / 12th 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, 49.2% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 98.3% of America's neighborhoods.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the 47th St / 12th Ave neighborhood buck this trend. 56.0% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.0% 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 31.0% of the 47th St / 12th Ave neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.2% of America's neighborhoods.
Also, more people in 47th St / 12th Ave choose to walk to work each day (20.1%) 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.
Occupations
From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the 47th St / 12th Ave neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 95.8% of all American neighborhoods.
People
Of note, 54.6% of the children in this area live in poverty; an extraordinarily high percentage compared to other neighborhoods in the nation. In a nation where approximately one in four children grows up in poverty, this neighborhood stands out for the depth of the problem manifested here.
In addition, with a nice mix of college students, safety from crime, and decent walkability, the 47th St / 12th Ave neighborhood rates highly as a college student friendly place to live, and one that college students and their parents may want to consider. NeighborhoodScout's analysis shows that it rates more highly for a good place for college students to live than 86.6% of the neighborhoods in NY. This often also means that the area has certain amenities and services geared towards college students, from undergraduates to graduate students.
Diversity
Did you know that the 47th St / 12th Ave neighborhood has more Hungarian and Romanian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.0% of this neighborhood's residents have Hungarian ancestry and 2.0% have Romanian ancestry.
47th St / 12th Ave is also pretty special linguistically. Significantly, 56.9% of its residents five years old and above primarily speak German/Yiddish at home. This is a higher percentage than 99.9% of all U.S. neighborhoods.
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 47th St / 12th Ave neighborhood. More residents of the 47th St / 12th Ave neighborhood live here today that also were living in this same neighborhood five years ago than is found in 95.3% 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.
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 47th St / 12th Ave neighborhood in Brooklyn are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 81.5% of U.S. neighborhoods. With 54.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 95.5% 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 47th St / 12th Ave neighborhood, 38.9% 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 28.0% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (17.2%), and 15.9% 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 47th St / 12th Ave neighborhood is German/Yiddish, spoken by 56.9% of households. Other important languages spoken here include Spanish, English, Polish and Russian.
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 47th St / 12th Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Polish (7.1%). There are also a number of people of Hungarian ancestry (5.0%), and residents who report Mexican roots (4.8%), and some of the residents are also of South American ancestry (3.7%), along with some Puerto Rican ancestry residents (2.9%), among others. In addition, 23.1% 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 47th St / 12th Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (31.5% of working residents), longer and tougher than most commutes in America.
Here most residents (31.0%) take the train to get to work. In addition, quite a number also hop out the door and walk to work to get to work (20.1%) and 19.9% of residents also carpool with coworkers, friends, or neighbors 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.
