E 2nd St / Bowery median real estate price is $1,521,283, which is more expensive than 83.7% of the neighborhoods in New York and 94.0% of the neighborhoods in the U.S.
The average rental price in E 2nd St / Bowery is currently $5,098, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 89.7% of the neighborhoods in New York.
E 2nd St / Bowery is a densely urban neighborhood (based on population density) located in New York, New York.
E 2nd St / Bowery 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 E 2nd St / Bowery 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.
E 2nd St / Bowery has a 13.0% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 72.6% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
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.
People
In a nation where 1 out of every 4 children lives in poverty, the E 2nd St / Bowery neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, an extraordinary 10.9% of the residents of the E 2nd St / Bowery neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.
Car Ownership
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the E 2nd St / Bowery neighborhood have a highly unusual car ownership. 84.2% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.9% of U.S. neighborhoods.
Real Estate
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 87,292 people per square mile, it is more densely populated than 99.5% of America's neighborhoods. 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 E 2nd St / Bowery neighborhood is one of the most walkable neighborhoods in America.
In addition, the real estate in the E 2nd St / Bowery 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, 84.9% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 97.4% of American neighborhoods.
Furthermore, 88.4% of the real estate in the E 2nd St / Bowery neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Also of note, the E 2nd St / Bowery neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 83.7% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
Modes of Transportation
In the E 2nd St / Bowery neighborhood, 43.0% 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 99.0% of the neighborhoods in America.
Also, would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the E 2nd St / Bowery neighborhood is a fantastic option for bicycle commuters, as 4.9% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 98.1% of the neighborhoods in America.
Finally, more people in E 2nd St / Bowery choose to walk to work each day (19.1%) 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.
Diversity
Did you know that the E 2nd St / Bowery neighborhood has more Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 9.5% of this neighborhood's residents have Russian ancestry.
E 2nd St / Bowery is also pretty special linguistically. Significantly, 0.6% of its residents five years old and above primarily speak Native American languages at home. While this may seem like a small percentage, it is higher than 95.4% of the neighborhoods in America.
Migration / Stability
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 E 2nd St / Bowery neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 96.3% 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 E 2nd St / Bowery neighborhood in New York are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 92.8% of the neighborhoods in America. 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.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the E 2nd St / Bowery neighborhood, 55.3% 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 20.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (17.2%), and 6.8% 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 E 2nd St / Bowery neighborhood is English, spoken by 75.6% of households. Other important languages spoken here include Spanish and Chinese.
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 E 2nd St / Bowery neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Asian (13.1%). There are also a number of people of English ancestry (11.0%), and residents who report Russian roots (9.5%), and some of the residents are also of Italian ancestry (7.9%), along with some German ancestry residents (7.1%), among others. In addition, 19.5% of the residents of this neighborhood were born in another country.
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 E 2nd St / Bowery neighborhood spend between 15 and 30 minutes commuting one-way to work (42.2% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (43.0%) take the train to get to work. In addition, quite a number also hop out the door and walk to work to get to work (19.1%) and 5.4% of residents also carpool with coworkers, friends, or neighbors 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.
