81st St / 5th Ave median real estate price is $1,081,318, which is more expensive than 71.8% of the neighborhoods in New York and 87.4% of the neighborhoods in the U.S.
The average rental price in 81st St / 5th Ave is currently $3,851, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 67.7% of the neighborhoods in New York.
81st St / 5th Ave is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
81st St / 5th 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 81st St / 5th 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.
81st St / 5th Ave has a 11.9% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 71.4% 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.
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 81st St / 5th Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Of note is NeighborhoodScout's research finding that the 81st St / 5th Ave neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the 81st St / 5th Ave community truly stands out from the rest in this regard.
The 81st St / 5th Ave neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 51,727 persons per square mile in the neighborhood, it is more packed with people than 98.5% of the nation'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 81st St / 5th Ave neighborhood is one of the most walkable neighborhoods in America.
In addition, corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the 81st St / 5th Ave neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 38.8% of the real estate here is made up of such dwellings, which is higher than 97.0% of all U.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 61.5% of the residential real estate in the 81st St / 5th Ave neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 97.0% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
In the 81st St / 5th Ave neighborhood, 39.6% 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 99.0% of the neighborhoods in America.
Also, our research revealed that more commuters here take the bus to work (14.3% ride the bus) than 97.4% 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.
American households most often have a car, and regularly they have two or three. But households in the 81st St / 5th Ave neighborhood buck this trend. 45.6% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.4% of U.S. neighborhoods.
Did you know that the 81st St / 5th Ave neighborhood has more Lebanese and Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 14.1% of this neighborhood's residents have Lebanese ancestry and 21.6% have Arab ancestry.
81st St / 5th Ave is also pretty special linguistically. Significantly, 7.0% of its residents five years old and above primarily speak Greek at home. While this may seem like a small percentage, it is higher than 100.0% of the neighborhoods in America.
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the 81st St / 5th Ave 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 79.5% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the 81st St / 5th Ave neighborhood, 60.4% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 14.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (12.4%), and 12.4% in sales and service jobs, from major sales accounts, to working in fast food restaurants.
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 81st St / 5th Ave neighborhood is English, spoken by 47.6% of households. Other important languages spoken here include Arabic, Spanish, Chinese and Greek.
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 81st St / 5th Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Arab (21.6%). There are also a number of people of Lebanese ancestry (14.1%), and residents who report Asian roots (12.0%), and some of the residents are also of Mexican ancestry (9.7%), along with some Greek ancestry residents (8.3%), among others. In addition, 31.9% 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 81st St / 5th Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (38.3% of working residents), longer and tougher than most commutes in America.
Here most residents (39.6%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (24.7%) and 14.3% 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.
