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Real Estate Prices & Overview

Prospect Pl / Eastern Pkwy median real estate price is $1,131,184, which is more expensive than 76.2% of the neighborhoods in New York and 91.3% of the neighborhoods in the U.S.

The average rental price in Prospect Pl / Eastern Pkwy is currently $2,671, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 60.3% of New York neighborhoods.

Prospect Pl / Eastern Pkwy is a densely urban neighborhood (based on population density) located in Brooklyn, New York.

Prospect Pl / Eastern Pkwy 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 Prospect Pl / Eastern Pkwy neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.

Home and apartment vacancy rates are 7.8% in Prospect Pl / Eastern Pkwy. NeighborhoodScout analysis shows that this rate is lower than 47.0% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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

If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 38.3% of the Prospect Pl / Eastern Pkwy neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.9% of America's neighborhoods.

Also, more people ride the bus in this neighborhood each day to get to work than 97.8% of U.S. neighborhoods.

Car Ownership

American households most often have a car, and regularly they have two or three. But households in the Prospect Pl / Eastern Pkwy neighborhood buck this trend. 52.1% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.8% of U.S. neighborhoods.

Real Estate

The Prospect Pl / Eastern Pkwy neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 53,699 persons per square mile in the neighborhood, it is more packed with people than 98.6% of the nation'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 Prospect Pl / Eastern Pkwy neighborhood is among the top 5% of American neighborhoods in terms of walkability.

In addition, three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The Prospect Pl / Eastern Pkwy neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 41.7% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 97.5% of America's neighborhoods.

People

Whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the Prospect Pl / Eastern Pkwy neighborhood has more single mother households than 95.5% of the neighborhoods in the U.S. Often high concentrations of single mother homes can be a strong indicator of family and social issues such as poverty, high rates of school dropouts, crime, and other societal problems.

Diversity

Did you know that the Prospect Pl / Eastern Pkwy neighborhood has more Dominican and Jamaican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 11.2% of this neighborhood's residents have Dominican ancestry and 6.0% have Jamaican ancestry.

Prospect Pl / Eastern Pkwy is also pretty special linguistically. Significantly, 2.8% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 96.8% of the neighborhoods in America.

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 Prospect Pl / Eastern Pkwy neighborhood in Brooklyn are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 75.0% of U.S. neighborhoods. With 10.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 52.6% 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 Prospect Pl / Eastern Pkwy neighborhood, 38.3% 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 29.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (20.0%), and 12.2% 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 Prospect Pl / Eastern Pkwy neighborhood is English, spoken by 76.3% of households. Other important languages spoken here include Spanish and African languages.

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 Prospect Pl / Eastern Pkwy neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (14.0%). There are also a number of people of Dominican ancestry (11.2%), and residents who report Jamaican roots (6.0%), and some of the residents are also of Haitian ancestry (1.9%), along with some South American ancestry residents (1.8%), among others. In addition, 37.1% of the residents of this neighborhood were born in another country.

Getting to Work

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 Prospect Pl / Eastern Pkwy neighborhood spend between 15 and 30 minutes commuting one-way to work (33.1% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (38.3%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (35.7%) and 15.4% 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.


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