E 31st St / 3rd Ave median real estate price is $1,887,997, which is more expensive than 92.4% of the neighborhoods in New York and 97.7% of the neighborhoods in the U.S.
The average rental price in E 31st St / 3rd Ave is currently $6,676, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 96.1% of the neighborhoods in New York.
E 31st St / 3rd Ave is a densely urban neighborhood (based on population density) located in New York, New York.
E 31st St / 3rd 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 E 31st St / 3rd Ave 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.
E 31st St / 3rd Ave has a 12.1% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 72.2% 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.
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.
Of note is NeighborhoodScout's research finding that the E 31st St / 3rd Ave 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 E 31st St / 3rd Ave community truly stands out from the rest in this regard.
In addition, the rate of college educated adults in the E 31st St / 3rd Ave neighborhood is a unique characteristic of the neighborhood. 88.1% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 35.7% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 99.4% of all U.S. neighborhoods.
Also, a unique characteristic about the people in the E 31st St / 3rd Ave neighborhood is that a majority of them are young, single professionals. In fact, there are more young, single professionals in this one community than 97.5% of neighborhoods in the U.S. Here you'll find an active nightlife nearby with lots of opportunities to flirt and find romance. In addition to being an excellent choice for young, single professionals, this neighborhood is also a very good choice for urban sophisticates.
The E 31st St / 3rd Ave neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.9% of the neighborhoods in America. In fact, 90.6% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
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 143,831 people per square mile, it is more densely populated than 99.9% 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 31st St / 3rd Ave neighborhood is one of the most walkable neighborhoods in America.
In addition, the E 31st St / 3rd Ave 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 95.3% 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.
Furthermore, the real estate in the E 31st St / 3rd 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, 93.1% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.7% of American neighborhoods.
Also of note, renter-occupied real estate is dominant in the E 31st St / 3rd Ave neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 86.7%, which is higher than 95.8% 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.
American households most often have a car, and regularly they have two or three. But households in the E 31st St / 3rd Ave neighborhood buck this trend. 78.1% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.8% of U.S. neighborhoods.
In the E 31st St / 3rd Ave 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 24.8% of residents here. This is a higher proportion of walking commuters than we found in 98.8% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, in the E 31st St / 3rd Ave neighborhood, 22.5% 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 97.8% of the neighborhoods in America.
Finally, a unique way of commuting is simply not to. And in the E 31st St / 3rd Ave neighborhood, analysis shows that 34.5% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 95.6% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
Did you know that the E 31st St / 3rd Ave neighborhood has more Austrian and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.6% of this neighborhood's residents have Austrian ancestry and 6.8% have Russian ancestry.
E 31st St / 3rd Ave is also pretty special linguistically. Significantly, 0.9% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 97.4% of the neighborhoods in America.
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 31st St / 3rd Ave 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 93.0% 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.
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 E 31st St / 3rd Ave neighborhood, 90.6% 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 5.5% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (3.0%), and 2.3% in clerical, assistant, and tech support 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 31st St / 3rd Ave neighborhood is English, spoken by 84.2% 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 31st St / 3rd Ave neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Irish (16.8%). There are also a number of people of Asian ancestry (13.0%), and residents who report Italian roots (10.9%), and some of the residents are also of Polish ancestry (10.9%), along with some English ancestry residents (8.2%), among others. In addition, 14.3% 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 31st St / 3rd Ave neighborhood spend between 30 and 45 minutes commuting one-way to work (44.6% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (24.8%) 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 (22.5%) and 7.7% of residents also carpool with coworkers, friends, or neighbors 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.
