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Real Estate Prices & Overview

Lorimer St / Union Ave median real estate price is $1,383,314, which is more expensive than 86.6% of the neighborhoods in New York and 95.8% of the neighborhoods in the U.S.

The average rental price in Lorimer St / Union Ave is currently $4,266, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 79.5% of the neighborhoods in New York.

Lorimer St / Union Ave is a densely urban neighborhood (based on population density) located in Brooklyn, New York.

Lorimer St / Union Ave real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more 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 Lorimer St / Union Ave neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

In Lorimer St / Union Ave, the current vacancy rate is 0.7%, which is a lower rate of vacancies than 92.3% of all neighborhoods in the U.S. This means that the housing supply in Lorimer St / Union Ave is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

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.

Modes of Transportation

More people in Lorimer St / Union Ave choose to walk to work each day (46.6%) 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.

Real Estate

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 93,379 people per square mile, it is more densely populated than 99.6% of America's neighborhoods.

In addition, homes built from 2000 through today make up a higher proportion of the Lorimer St / Union Ave neighborhood's real estate landscape than 95.8% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 69.7% of the residential real estate here is classified as newer.

People

Of note, 78.6% of the children in this area live in poverty; an extraordinarily high percentage compared to other neighborhoods in the nation. In a nation where approximately one in four children grows up in poverty, this neighborhood stands out for the depth of the problem manifested here.

Car Ownership

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 Lorimer St / Union Ave neighborhood has a highly unusual pattern of car ownership. 42.5% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.3% of U.S. neighborhoods.

Diversity

Did you know that the Lorimer St / Union Ave neighborhood has more Hungarian and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 22.3% of this neighborhood's residents have Hungarian ancestry and 6.6% have Eastern European ancestry.

Lorimer St / Union Ave is also pretty special linguistically. Significantly, 77.1% of its residents five years old and above primarily speak German/Yiddish at home. This is a higher percentage than 100.0% of all U.S. neighborhoods.

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 Lorimer St / Union Ave neighborhood live here today that also were living in this same neighborhood five years ago than is found in 98.0% 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 Lorimer St / Union 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 93.8% of U.S. neighborhoods. With 78.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 99.3% of U.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 Lorimer St / Union Ave neighborhood, 42.4% 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 42.1% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (9.3%), and 6.2% 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 Lorimer St / Union Ave neighborhood is German/Yiddish, spoken by 77.1% 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 Lorimer St / Union Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Hungarian (22.3%). There are also a number of people of Eastern European ancestry (6.6%), and residents who report Romanian roots (1.8%).

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 Lorimer St / Union Ave neighborhood spend under 15 minutes commuting one-way to work (52.5% of working residents), one of the shortest commutes across America.

Here most residents (46.6%) hop out the door and walk to work to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (13.7%) and 10.1% of residents also drive alone in a private automobile for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.


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