What do we mean by a neighborhood?
NeighborhoodScout® uses the official government designation for neighborhoods - the census tract.
Census tracts are small, relatively permanent subdivisions of a county that are defined by the U.S. Census Bureau in conjunction with local authorities all across the country to define real neighborhoods that are bounded to contain areas with homogeneous population characteristics (including economic status, lifestyle, and living conditions). Census tracts usually have 4,000 persons, but can range between 1,500 and 8,000 persons. This is the most fine-grained area for which detailed information is made available from the government, to protect the individual privacy of each of us. Because census tracts are based on population, they vary in size depending on the density of settlement. In urban areas, they are small, and in rural areas they can cover an entire small town or even a few small towns in very rural areas.
Since census tracts are subdivisions of a county, we did a spatial overlay of the census tracts onto city and town boundaries using a geographic information system to properly assign each census tract to its appropriate city or town. Then we named each census tract to the local colloquially recognized neighborhood name for that spot (e.g., Boston, MA (Dorchester). If there was not a name available, we named the census tract by the largest street intersection in the census tract (e.g., Worcester, MA (Lincoln St/Plantation St)
Why we don't use Zip Codes as neighborhoods
Zip codes were developed by the Postal Service for the purpose of delivering mail, but were never intended to define coherent neighborhoods. In addition, Zip Codes can have as many as 10 distinctly different census tracts contained within them. When distinct census tracts are blended together in a single Zip Code, the data reflects their average conditions and often gives a false sense of the area. The result is that potentially great matching neighborhoods can be missed, and erroneous matches can also be produced and delivered to you.
Using census tracts makes great matches possible, and helps people find the areas that are best for them and their families. Because we are committed to providing the highest possible quality and finding the neighborhoods that best meet your criteria, we use census tracts. And, as always, we show you the actual street map of the neighborhood so you know exactly where your best matching neighborhood is located.
What is a Condition Alert?
A condition alert is a condition in the neighborhood that triggers an alert. NeighborhoodScout contains condition alerts to highlight conditions that are extreme, whether good or bad. This helps answer crucial questions about the state of the neighborhood being evaluated, such as:
What are the risks of violent crime here?
Is the risk of home break-ins or other property crimes increasing?
Does real estate here hold its value?
Are the trends in local vacancies or unemployment concerning?
...and dozens more.
Information at a glance that you need to know to invest, appraise or finance a property.
Park Ave / Marcy Ave median real estate price is $1,340,458, which is more expensive than 85.8% of the neighborhoods in New York and 95.5% of the neighborhoods in the U.S.
The average rental price in Park Ave / Marcy Ave is currently $1,480, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 85.8% of New York neighborhoods.
Park Ave / Marcy Ave is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
Park Ave / Marcy 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 townhomes. Most of the residential real estate is renter occupied. Many of the residences in the Park Ave / Marcy Ave neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
In Park Ave / Marcy Ave, the current vacancy rate is 0.4%, which is a lower rate of vacancies than 93.2% of all neighborhoods in the U.S. This means that the housing supply in Park Ave / Marcy Ave is very tight compared to the demand for property here.
Notable & Unique Neighborhood Characteristics
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 Park Ave / Marcy Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the Park Ave / Marcy Ave neighborhood buck this trend. 74.6% 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.
Real Estate
Most neighborhoods have a mixture of ages of homes in them, from new to old, but this neighborhood stands out due to its concentration of residential real estate built in one time frame: from 1940 through 1969, generally considered older, well-established homes. This was a busy time in America for home construction. After the end of World War II, as GIs came home, bought newly built homes on the edges of cities with the help of the GI Bill, and began their families. This housing era generally coincides with the 'Baby Boom' generation (1945 - 1964), and many baby boomers grew up in homes built in this era. But what is so interesting about the Park Ave / Marcy Ave neighborhood, is that an incredible 88.8% of the homes here were built in this era. So when you walk its streets or drive through, this neighborhood has a look and feel that harkens to that era in American life, a very important slice of Americana.
In addition, 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 89,657 people per square mile, it is more densely populated than 99.5% of America's neighborhoods.
Furthermore, the real estate in the Park Ave / Marcy Ave neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 96.8% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.4% of American neighborhoods.
Also of note, renter-occupied real estate is dominant in the Park Ave / Marcy Ave neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 95.0%, which is higher than 98.0% 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.
Modes of Transportation
In the Park Ave / Marcy Ave neighborhood, 51.8% 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 99.5% of the neighborhoods in America.
Also, our research revealed that more commuters here take the bus to work (20.0% ride the bus) than 98.6% 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.
People
One of the unique characteristics of the Park Ave / Marcy Ave neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 99.0% of the neighborhoods in America.
Diversity
Did you know that the Park Ave / Marcy Ave neighborhood has more Dominican and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 33.1% of this neighborhood's residents have Dominican ancestry and 14.8% have Puerto Rican ancestry.
Park Ave / Marcy Ave is also pretty special linguistically. Significantly, 58.9% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 95.5% of all U.S. neighborhoods.
The Neighbors
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 Park Ave / Marcy 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 99.0% of U.S. neighborhoods. With 41.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 90.0% 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 Park Ave / Marcy Ave neighborhood, 33.6% of the working population is employed in clerical, assistant, and tech support 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 30.7% of the residents employed. Other residents here are employed in executive, management, and professional occupations (23.4%), and 12.3% in manufacturing and laborer occupations.
Languages
The most common language spoken in the Park Ave / Marcy Ave neighborhood is Spanish, spoken by 58.9% of households. Some people also speak English (38.5%).
Ethnicity / Ancestry
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 Park Ave / Marcy Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Dominican (33.1%). There are also a number of people of Puerto Rican ancestry (14.8%), and residents who report South American roots (2.1%), and some of the residents are also of Jamaican ancestry (1.7%), along with some Haitian ancestry residents (1.6%), among others. In addition, 23.0% of the residents of this neighborhood were born in another country.
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 Park Ave / Marcy Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (37.5% of working residents), longer and tougher than most commutes in America.
Here most residents (51.8%) take the train to get to work. In addition, quite a number also ride the bus to get to work (20.0%) and 13.7% of residents also drive alone in a private automobile 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.
SCOUT’s patented match algorithm identifies the most similar neighborhoods to a subject location, and quantifies the similarity to the subject location. This allows analysts to identify the most similar neighborhoods in a local market area for appraisals, investments, and research.
The algorithm uses 273 neighborhood conditions, identifies the dominant dimensions underlying the conditions and calculates the similarity. This captures the true culture and character of locations, economic conditions, and trends.
The closer to 100% means the locations are nearly identical. 80% is a very good, but not excellent match, and so forth.
