Central Ave / Melrose St median real estate price is $1,397,108, which is more expensive than 87.0% of the neighborhoods in New York and 96.0% of the neighborhoods in the U.S.
The average rental price in Central Ave / Melrose St is currently $4,173, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 74.5% of the neighborhoods in New York.
Central Ave / Melrose St is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
Central Ave / Melrose St 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 Central Ave / Melrose St neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.
In Central Ave / Melrose St, the current vacancy rate is 0.7%, which is a lower rate of vacancies than 91.7% of all neighborhoods in the U.S. This means that the housing supply in Central Ave / Melrose St is very tight compared to the demand for property here.
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 Central Ave / Melrose St neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 65.5% of the Central Ave / Melrose St neighborhood's commuters ride the train to and from work each day, which is more than we found in 100.0% of America's neighborhoods.
Also, would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the Central Ave / Melrose St neighborhood is a fantastic option for bicycle commuters, as 4.8% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 98.1% of the neighborhoods in America.
We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Central Ave / Melrose St neighborhood has a highly unusual pattern of car ownership. 68.9% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.5% of U.S. neighborhoods.
The Central Ave / Melrose St neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 46,693 persons per square mile in the neighborhood, it is more packed with people than 98.3% 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 Central Ave / Melrose St neighborhood is one of the most walkable neighborhoods in America.
In addition, one of the really unique and interesting things about the look and setting of the Central Ave / Melrose St neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 74.6% 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 95.8% of all neighborhoods in America.
Furthermore, renter-occupied real estate is dominant in the Central Ave / Melrose St neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 84.5%, which is higher than 95.2% 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.
Did you know that the Central Ave / Melrose St neighborhood has more Dominican and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 11.6% of this neighborhood's residents have Dominican ancestry and 13.1% have South American ancestry.
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 Central Ave / Melrose St neighborhood in Brooklyn are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 59.9% of the neighborhoods in America. With 18.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 67.4% 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 Central Ave / Melrose St neighborhood, 52.0% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 21.3% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (16.7%), and 10.0% in manufacturing and laborer occupations.
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 Central Ave / Melrose St neighborhood is Spanish, spoken by 52.8% of households. Other important languages spoken here include English and Polish.
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 Central Ave / Melrose St neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Mexican (20.6%). There are also a number of people of Puerto Rican ancestry (13.6%), and residents who report South American roots (13.1%), and some of the residents are also of Dominican ancestry (11.6%), along with some Italian ancestry residents (10.0%), among others. In addition, 24.3% of the residents of this neighborhood were born in another country.
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Central Ave / Melrose St neighborhood spend between 45 minutes and one hour commuting one-way to work (51.3% of working residents), longer and tougher than most commutes in America.
Here most residents (65.5%) take the train to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (7.3%) . 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.