Collegetown median real estate price is $440,605, which is more expensive than 35.4% of the neighborhoods in New York and 59.0% of the neighborhoods in the U.S.
The average rental price in Collegetown is currently $2,386, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 62.6% of New York neighborhoods.
Collegetown is a densely urban neighborhood (based on population density) located in Ithaca, New York.
Collegetown 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 Collegetown 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 1970 and 1999.
Vacant apartments or homes are a major fact of life in Collegetown. The current real estate vacancy rate here is 21.8%. This is higher than the rate of vacancies in 89.8% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.
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 Ithaca, the Collegetown neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Of note is NeighborhoodScout's research finding that the Collegetown neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Collegetown community truly stands out from the rest in this regard.
In addition, some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 61.5% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 99.8% of U.S. neighborhoods, where the average American neighborhood has 13.7% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.
Also, collegetown is ranked among the top 8.3% of neighborhoods for first-time home buyers to consider in the state of New York according to NeighborhoodScout's exclusive analysis. Homes here are priced below median housing values in the state, yet maintain moderate appreciation rates compared to other communities. Buying into the Collegetown neighborhood is not only an accessible option but an investment opportunity for many first-time home buyers.
In the Collegetown 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 48.9% of residents here. This is a higher proportion of walking commuters than we found in 99.8% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, more people ride the bus in this neighborhood each day to get to work than 99.1% of U.S. neighborhoods.
If you like crowded places, then you will probably enjoy the the Collegetown neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 95.6% of neighborhoods in the U.S., with 23,113 people per square mile living here. Being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the Collegetown neighborhood is one of the most walkable neighborhoods in America.
In addition, corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the Collegetown neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 34.0% of the real estate here is made up of such dwellings, which is higher than 95.9% of all U.S. neighborhoods.
Furthermore, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 56.6% of the residential real estate in the Collegetown neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 95.7% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
Did you know that the Collegetown neighborhood has more Canadian and Lebanese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.3% of this neighborhood's residents have Canadian ancestry and 2.7% have Lebanese ancestry.
Collegetown is also pretty special linguistically. Significantly, 0.6% of its residents five years old and above primarily speak Japanese at home. While this may seem like a small percentage, it is higher than 95.7% of the neighborhoods in America.
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. In the Collegetown neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.6% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 Collegetown neighborhood in Ithaca are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 74.5% of U.S. neighborhoods. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America'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 Collegetown neighborhood, 49.9% 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 26.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (15.2%), and 8.8% 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 Collegetown neighborhood is English, spoken by 79.7% of households. Other important languages spoken here include Polish, Spanish, Chinese and French.
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 Collegetown neighborhood in Ithaca, NY, residents most commonly identify their ethnicity or ancestry as English (17.5%). There are also a number of people of Irish ancestry (11.4%), and residents who report Asian roots (10.6%), and some of the residents are also of German ancestry (7.3%), along with some Italian ancestry residents (6.6%), among others. In addition, 10.6% of the residents of this neighborhood were born in another country.
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 Collegetown neighborhood spend between 15 and 30 minutes commuting one-way to work (59.0% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (48.9%) hop out the door and walk to work to get to work. In addition, quite a number also ride the bus to get to work (22.4%) and 14.5% 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.
