50th St / 8th Ave median real estate price is $1,446,736, which is more expensive than 87.9% of the neighborhoods in New York and 96.3% of the neighborhoods in the U.S.
The average rental price in 50th St / 8th Ave is currently $3,225, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 49.3% of New York neighborhoods.
50th St / 8th Ave is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
50th St / 8th 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 50th St / 8th 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.
Vacant apartments or homes are a major fact of life in 50th St / 8th Ave. The current real estate vacancy rate here is 16.9%. This is higher than the rate of vacancies in 83.7% 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 50th St / 8th Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
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 97,439 people per square mile, it is more densely populated than 99.6% 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 50th St / 8th 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 50th St / 8th 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, 34.3% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 96.0% 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 66.7% of the residential real estate in the 50th St / 8th Ave neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 98.1% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
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 50th St / 8th Ave neighborhood have a highly unusual car ownership. 55.6% 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.
In the 50th St / 8th Ave neighborhood, 31.8% 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 98.5% of the neighborhoods in America.
Also, more people in 50th St / 8th Ave choose to walk to work each day (18.9%) 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.
There are more people living in the 50th St / 8th Ave neighborhood employed as sales and service workers (59.3%) than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.
Of note, 57.9% 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 50th St / 8th 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 85.1% 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.
Did you know that the 50th St / 8th Ave neighborhood has more Asian and Native American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 76.7% of this neighborhood's residents have Asian ancestry and 3.3% have Native American ancestry.
50th St / 8th Ave is also pretty special linguistically. Significantly, 73.7% of its residents five years old and above primarily speak Chinese at home. This is a higher percentage than 100.0% of all U.S. neighborhoods.
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. What is interesting to note, is that the 50th St / 8th Ave neighborhood has a greater percentage of residents born in another country (69.2%) than are found in 99.7% of all U.S. neighborhoods.
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 50th St / 8th 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 60.1% of U.S. neighborhoods. With 57.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 96.5% 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 50th St / 8th Ave neighborhood, 40.7% 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 manufacturing and laborer occupations, with 23.4% of the residents employed. Other residents here are employed in executive, management, and professional occupations (18.8%), and 17.2% 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 50th St / 8th Ave neighborhood is Chinese, spoken by 73.7% of households. Other important languages spoken here include English, Spanish, Langs. of India and Urdu (the national language of Pakistan).
Ethnicity / Ancestry
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the 50th St / 8th Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Asian (76.7%). There are also a number of people of Dominican ancestry (5.0%), and residents who report Native American roots (3.3%), and some of the residents are also of Polish ancestry (1.9%), along with some Arab ancestry residents (1.6%), among others. In addition, 69.2% 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 50th St / 8th Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (40.7% of working residents), longer and tougher than most commutes in America.
Here most residents (31.8%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (25.8%) and 18.9% 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.
