55th St / 7th Ave median real estate price is $1,292,074, which is more expensive than 84.6% of the neighborhoods in New York and 95.1% of the neighborhoods in the U.S.
The average rental price in 55th St / 7th Ave is currently $3,024, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 53.8% of New York neighborhoods.
55th St / 7th Ave is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
55th St / 7th 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 55th St / 7th 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 55th St / 7th Ave. The current real estate vacancy rate here is 21.0%. This is higher than the rate of vacancies in 89.5% 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 55th St / 7th 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 104,274 people per square mile, it is more densely populated than 99.7% 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 55th St / 7th 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 55th St / 7th 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, 43.0% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 97.7% of America's neighborhoods.
Furthermore, renter-occupied real estate is dominant in the 55th St / 7th Ave neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 85.4%, which is higher than 95.5% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.
Also of note, 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 73.4% of the residential real estate in the 55th St / 7th Ave neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 99.1% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
American households most often have a car, and regularly they have two or three. But households in the 55th St / 7th Ave neighborhood buck this trend. 75.8% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.7% of U.S. neighborhoods.
In the 55th St / 7th Ave neighborhood, 35.1% 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 98.7% of the neighborhoods in America.
Also, more people in 55th St / 7th Ave choose to walk to work each day (24.2%) 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.
Finally, our research revealed that more commuters here take the bus to work (14.0% ride the bus) than 97.3% 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.
From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the 55th St / 7th Ave neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 96.6% of all American neighborhoods.
Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The 55th St / 7th Ave neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the 55th St / 7th Ave neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 10.1% 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 95.8% of all neighborhoods in America.
Did you know that the 55th St / 7th Ave neighborhood has more Asian and Native American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 75.5% of this neighborhood's residents have Asian ancestry and 5.1% have Native American ancestry.
55th St / 7th Ave is also pretty special linguistically. Significantly, 69.1% 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.
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 55th St / 7th Ave neighborhood. What is interesting to note, is that the 55th St / 7th Ave neighborhood has a greater percentage of residents born in another country (61.6%) than are found in 99.3% 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 55th St / 7th Ave neighborhood in Brooklyn are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 89.1% of U.S. neighborhoods. With 41.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 90.6% 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 55th St / 7th Ave neighborhood, 39.0% 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 29.2% of the residents employed. Other residents here are employed in executive, management, and professional occupations (17.3%), and 14.6% 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 55th St / 7th Ave neighborhood is Chinese, spoken by 69.1% of households. Other important languages spoken here include English and Spanish.
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 55th St / 7th Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Asian (75.5%). There are also a number of people of South American ancestry (11.2%), and residents who report Mexican roots (6.6%), and some of the residents are also of Native American ancestry (5.1%). In addition, 61.6% 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 55th St / 7th Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (38.1% of working residents), longer and tougher than most commutes in America.
Here most residents (35.1%) 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 (24.2%) and 14.0% of residents also ride the bus 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.
