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Real Estate Prices & Overview

Williamsburg median real estate price is $1,614,861, which is more expensive than 90.8% of the neighborhoods in New York and 97.2% of the neighborhoods in the U.S.

The average rental price in Williamsburg is currently $3,619, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 62.5% of the neighborhoods in New York.

Williamsburg is a densely urban neighborhood (based on population density) located in Brooklyn, New York.

Williamsburg real estate is primarily made up of large (four, five or more bedroom) to small (studio to two 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 Williamsburg neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 2000 and the present.

Real estate vacancies in Williamsburg are 3.2%, which is lower than one will find in 77.0% of American neighborhoods. Demand for real estate in Williamsburg is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

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 Williamsburg neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Modes of Transportation

In the Williamsburg neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 52.6% of residents here. This is a higher proportion of walking commuters than we found in 99.9% of American neighborhoods. Get ready to put on your walking shoes if you move here!

Also, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 21.0% of the Williamsburg neighborhood's commuters ride the train to and from work each day, which is more than we found in 97.6% of America's neighborhoods.

Real Estate

Renter-occupied real estate is dominant in the Williamsburg neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 100.0%, which is higher than 99.3% 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.

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 63,659 people per square mile, it is more densely populated than 99.0% of America'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 Williamsburg neighborhood is among the top 5% of American neighborhoods in terms of walkability.

Furthermore, 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 Williamsburg 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, 43.6% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 97.8% of America's neighborhoods.

Car Ownership

American households most often have a car, and regularly they have two or three. But households in the Williamsburg neighborhood buck this trend. 56.7% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.0% of U.S. neighborhoods.

People

One of the really interesting characteristics about the Williamsburg neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 3.6% of college-friendly places to live in the state of New York.

Diversity

Did you know that the Williamsburg neighborhood has more Hungarian and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 20.4% of this neighborhood's residents have Hungarian ancestry and 7.3% have Eastern European ancestry.

Williamsburg is also pretty special linguistically. Significantly, 42.1% 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.

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 Williamsburg 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 93.2% of U.S. neighborhoods. With 15.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 62.7% 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 Williamsburg neighborhood, 31.1% 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 29.0% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (21.3%), and 18.6% 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 Williamsburg neighborhood is German/Yiddish, spoken by 42.1% 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 Williamsburg neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Hungarian (20.4%). There are also a number of people of Puerto Rican ancestry (8.8%), and residents who report Eastern European roots (7.3%), and some of the residents are also of Asian ancestry (6.7%), along with some French ancestry residents (2.7%), among others. In addition, 16.1% 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 Williamsburg neighborhood spend between 15 and 30 minutes commuting one-way to work (42.9% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (52.6%) hop out the door and walk to work to get to work. In addition, quite a number also take the train to get to work (21.0%) and 15.1% 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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