E 62nd St / Madison Ave median real estate price is $6,761,640, which is more expensive than 99.9% of the neighborhoods in New York and 100.0% of the neighborhoods in the U.S.
The average rental price in E 62nd St / Madison Ave is currently $6,761, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 98.2% of the neighborhoods in New York.
E 62nd St / Madison Ave is a densely urban neighborhood (based on population density) located in New York, New York.
E 62nd St / Madison 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 occupied by a mixture of owners and renters. Many of the residences in the E 62nd St / Madison 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 1940 and 1969.
Vacant apartments or homes are a major fact of life in E 62nd St / Madison Ave. The current real estate vacancy rate here is 51.4%. This is higher than the rate of vacancies in 99.0% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (29.4%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, 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 New York, the E 62nd St / Madison Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
In a nation where 1 out of every 4 children lives in poverty, the E 62nd St / Madison Ave neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
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 52.9% 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 99.4% of U.S. neighborhoods, where the average American neighborhood has 14.1% 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, one of the most interesting things about the E 62nd St / Madison Ave neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 61.5% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 98.9% of the neighborhoods in America.
Finally, think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the E 62nd St / Madison Ave neighborhood: a neighborhood in which more "urban sophisticates" live than 97.6% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives.
More people in E 62nd St / Madison Ave choose to walk to work each day (49.5%) 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, a unique way of commuting is simply not to. And in the E 62nd St / Madison Ave neighborhood, analysis shows that 33.9% 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 95.3% 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.
American households most often have a car, and regularly they have two or three. But households in the E 62nd St / Madison Ave neighborhood buck this trend. 64.5% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.4% of U.S. neighborhoods.
The E 62nd St / Madison Ave neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.3% of the neighborhoods in America. In fact, 82.0% 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.
Vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 51.4% of the residential real estate vacant, the E 62nd St / Madison Ave neighborhood claims the distinction of having a higher vacancy rate than 99.0% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.
In addition, the E 62nd St / Madison Ave neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 35,784 persons per square mile in the neighborhood, it is more packed with people than 97.6% of the nation'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 E 62nd St / Madison Ave neighborhood is among the top 5% of American neighborhoods in terms of walkability.
Furthermore, one of the really unique and interesting things about the look and setting of the E 62nd St / Madison Ave neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 91.6% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 98.4% of all neighborhoods in America.
Also of note, 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 54.6% of the residential real estate in the E 62nd St / Madison Ave neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 95.2% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
Did you know that the E 62nd St / Madison Ave neighborhood has more Slovak and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 8.1% of this neighborhood's residents have Slovak ancestry and 10.7% have Russian ancestry.
E 62nd St / Madison Ave is also pretty special linguistically. Significantly, 4.5% of its residents five years old and above primarily speak Portuguese at home. While this may seem like a small percentage, it is higher than 99.1% 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 62nd St / Madison 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 93.2% 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 62nd St / Madison Ave neighborhood, 82.0% 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 12.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (5.5%).
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 62nd St / Madison Ave neighborhood is English, spoken by 82.5% of households. Other important languages spoken here include Chinese, Portuguese and French.
Ethnicity / Ancestry
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the E 62nd St / Madison Ave neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Irish (22.1%). There are also a number of people of Russian ancestry (10.7%), and residents who report Asian roots (9.6%), and some of the residents are also of Slovak ancestry (8.1%), along with some English ancestry residents (7.9%), among others. In addition, 22.8% 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 E 62nd St / Madison Ave neighborhood spend between 15 and 30 minutes commuting one-way to work (71.3% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (49.5%) 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 (5.5%) . 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.
