72nd St / Colonial Rd median real estate price is $666,552, which is more expensive than 48.9% of the neighborhoods in New York and 68.3% of the neighborhoods in the U.S.
The average rental price in 72nd St / Colonial Rd is currently $3,453, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 42.3% of New York neighborhoods.
72nd St / Colonial Rd is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
72nd St / Colonial Rd 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 townhomes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the 72nd St / Colonial Rd 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.
Real estate vacancies in 72nd St / Colonial Rd are 5.6%, which is lower than one will find in 60.2% of American neighborhoods. Demand for real estate in 72nd St / Colonial Rd 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.
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
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 81,840 people per square mile, it is more densely populated than 99.4% of America'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 72nd St / Colonial Rd neighborhood is among the top 5% of American neighborhoods in terms of walkability.
In addition, one of the really unique and interesting things about the look and setting of the 72nd St / Colonial Rd neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 86.5% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 97.7% of all neighborhoods in America.
Furthermore, the 72nd St / Colonial Rd neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 89.8% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
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 59.9% of the residential real estate in the 72nd St / Colonial Rd neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 96.6% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 28.6% of the 72nd St / Colonial Rd neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.3% of America's neighborhoods.
American households most often have a car, and regularly they have two or three. But households in the 72nd St / Colonial Rd neighborhood buck this trend. 26.9% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 96.6% of U.S. neighborhoods.
The 72nd St / Colonial Rd neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 95.4% of the neighborhoods in America. In fact, 71.2% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Did you know that the 72nd St / Colonial Rd neighborhood has more Ukrainian and Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.4% of this neighborhood's residents have Ukrainian ancestry and 3.1% have Greek ancestry.
72nd St / Colonial Rd is also pretty special linguistically. Significantly, 8.1% 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 99.3% of the neighborhoods in America.
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 72nd St / Colonial Rd 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 64.8% of the neighborhoods in America. With 27.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 79.6% 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 72nd St / Colonial Rd neighborhood, 71.2% 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 14.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.7%), and 5.9% in government jobs, whether they are in local, state, or federal positions.
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 72nd St / Colonial Rd neighborhood is English, spoken by 53.8% of households. Other important languages spoken here include Arabic, Chinese, Spanish and Polish.
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 72nd St / Colonial Rd neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Italian (15.9%). There are also a number of people of Asian ancestry (12.7%), and residents who report Irish roots (10.5%), and some of the residents are also of Puerto Rican ancestry (7.3%), along with some Ukrainian ancestry residents (6.4%), among others. In addition, 33.2% 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 72nd St / Colonial Rd neighborhood spend between 45 minutes and one hour commuting one-way to work (38.9% of working residents), longer and tougher than most commutes in America.
Here most residents (28.6%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (24.6%) and 7.5% 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.