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Real Estate Prices & Overview

E 55th St / Avenue N median real estate price is $779,631, which is more expensive than 58.7% of the neighborhoods in New York and 83.8% of the neighborhoods in the U.S.

The average rental price in E 55th St / Avenue N is currently $3,557, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 60.8% of the neighborhoods in New York.

E 55th St / Avenue N is a densely urban neighborhood (based on population density) located in Brooklyn, New York.

E 55th St / Avenue N real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) small apartment buildings and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the E 55th St / Avenue N neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

Vacant apartments or homes are a major fact of life in E 55th St / Avenue N. The current real estate vacancy rate here is 17.7%. This is higher than the rate of vacancies in 85.1% 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.

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 E 55th St / Avenue N neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Modes of Transportation

Our research revealed that more commuters here take the bus to work (26.6% ride the bus) than 99.5% 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.

Also, in the E 55th St / Avenue N neighborhood, 13.2% 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 96.5% of the neighborhoods in America.

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 E 55th St / Avenue N neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 15.2% 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 98.8% of all neighborhoods in America.

Real Estate

If you love row houses and attached homes, you will probably really like the E 55th St / Avenue N neighborhood. The ambiance, the charm, of row houses is something special. And in sheer abundance of row houses, this neighborhood truly stands out. The real estate here has a higher proportion of row houses and attached homes than nearly any neighborhood in America. In fact, 40.2% of the residential real estate here is classified as row houses and attached homes.

In addition, if you like crowded places, then you will probably enjoy the the E 55th St / Avenue N neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.6% of neighborhoods in the U.S., with 28,160 people per square mile living here. 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 E 55th St / Avenue N neighborhood is one of the most walkable neighborhoods in America.

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 E 55th St / Avenue N neighborhood have a highly unusual car ownership. 20.3% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 95.3% of U.S. neighborhoods.

Diversity

Did you know that the E 55th St / Avenue N neighborhood has more Haitian and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 13.7% of this neighborhood's residents have Haitian ancestry and 9.8% have Puerto Rican ancestry.

E 55th St / Avenue N is also pretty special linguistically. Significantly, 12.6% of its residents five years old and above primarily speak French at home. While this may seem like a small percentage, it is higher than 99.4% of the neighborhoods in America.

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. More residents of the E 55th St / Avenue N neighborhood live here today that also were living in this same neighborhood five years ago than is found in 98.5% 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 E 55th St / Avenue N 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 89.3% of the neighborhoods in America. With 19.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 68.9% 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 E 55th St / Avenue N neighborhood, 37.0% 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 24.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (20.6%), and 16.4% 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 E 55th St / Avenue N neighborhood is English, spoken by 52.8% of households. Other important languages spoken here include Spanish and French.

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 E 55th St / Avenue N neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Mexican (14.0%). There are also a number of people of Haitian ancestry (13.7%), and residents who report Puerto Rican roots (9.8%), and some of the residents are also of Asian ancestry (8.3%), along with some Italian ancestry residents (6.9%), among others. In addition, 39.9% 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 E 55th St / Avenue N neighborhood spend between 30 and 45 minutes commuting one-way to work (31.6% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods. However, there is also a significant group of residents (15.2%) who commute over an hour in each direction.

Here most residents (36.8%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (26.6%) and 13.2% of residents also take the train for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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