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Real Estate Prices & Overview

Wallabout St / Throop Ave median real estate price is $1,580,667, which is more expensive than 90.4% of the neighborhoods in New York and 97.1% of the neighborhoods in the U.S.

The average rental price in Wallabout St / Throop Ave is currently $3,760, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 66.1% of the neighborhoods in New York.

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

Wallabout St / Throop 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 Wallabout St / Throop Ave neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.

Home and apartment vacancy rates are 5.7% in Wallabout St / Throop Ave. NeighborhoodScout analysis shows that this rate is lower than 59.4% of the neighborhoods in the nation, approximately near the middle range for vacancies.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

Modes of Transportation

More people in Wallabout St / Throop Ave choose to walk to work each day (44.6%) 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.

Also, if you like to ride a ferry to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 2.4% of the Wallabout St / Throop Ave neighborhood's commuters ride a ferry to and from work each day, which is more than we found in 99.6% of America's neighborhoods.

Finally, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 10.5% of the Wallabout St / Throop Ave neighborhood's commuters ride the train to and from work each day, which is more than we found in 95.8% of America's neighborhoods.

Real Estate

The Wallabout St / Throop Ave neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 52,638 persons per square mile in the neighborhood, it is more packed with people than 98.6% of the nation's neighborhoods.

In addition, the real estate in the Wallabout St / Throop 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, 85.6% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 97.6% of American neighborhoods.

Furthermore, homes built from 2000 through today make up a higher proportion of the Wallabout St / Throop 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, 73.3% of the residential real estate here is classified as newer.

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 Wallabout St / Throop Ave neighborhood has a highly unusual pattern of car ownership. 38.5% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.0% of U.S. neighborhoods.

Diversity

Did you know that the Wallabout St / Throop Ave neighborhood has more Hungarian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 14.2% of this neighborhood's residents have Hungarian ancestry.

Wallabout St / Throop Ave is also pretty special linguistically. Significantly, 56.1% of its residents five years old and above primarily speak German/Yiddish at home. This is a higher percentage than 99.9% of all U.S. neighborhoods.

Migration / Stability

Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. More residents of the Wallabout St / Throop Ave neighborhood live here today that also were living in this same neighborhood five years ago than is found in 96.3% 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 Wallabout St / Throop Ave 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 73.7% of U.S. neighborhoods. With 39.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 88.9% 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 Wallabout St / Throop Ave neighborhood, 41.3% of the working population is employed in clerical, assistant, and tech support occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 33.6% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (15.1%), and 10.1% 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 Wallabout St / Throop Ave neighborhood is German/Yiddish, spoken by 56.1% of households. Other important languages spoken here include English and Spanish.

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 Wallabout St / Throop Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Hungarian (14.2%). There are also a number of people of Polish ancestry (4.5%), and residents who report English roots (4.5%), and some of the residents are also of Mexican ancestry (2.5%), along with some Puerto Rican ancestry residents (2.3%), among others.

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 Wallabout St / Throop Ave neighborhood spend between 15 and 30 minutes commuting one-way to work (27.1% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (44.6%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (25.7%) and 10.5% of residents also take the train 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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