E 78th St / 1st Ave median real estate price is $1,395,724, which is more expensive than 81.6% of the neighborhoods in New York and 93.7% of the neighborhoods in the U.S.
The average rental price in E 78th St / 1st Ave is currently $3,831, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 73.6% of the neighborhoods in New York.
E 78th St / 1st Ave is a densely urban neighborhood (based on population density) located in New York, New York.
E 78th St / 1st 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 townhomes. Most of the residential real estate is renter occupied. Many of the residences in the E 78th St / 1st Ave neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
E 78th St / 1st Ave has a 10.5% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 65.2% of American neighborhoods). A relatively large percentage of housing here is seasonally occupied (9.8%), which can occur in some markets dominated by colleges or vacation homes. If you live here year round, you will find many of the homes or apartments are empty for all or a portion of the year.
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 78th St / 1st Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
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 180,127 people per square mile, it is more densely populated than 100.0% 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 E 78th St / 1st Ave neighborhood is among the top 5% of American neighborhoods in terms of walkability.
In addition, one of the really unique and interesting things about the look and setting of the E 78th St / 1st Ave neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 97.5% 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 99.5% of all neighborhoods in America.
Furthermore, the E 78th St / 1st 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 81.9% 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.
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 78th St / 1st Ave neighborhood have a highly unusual car ownership. 72.8% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.7% of U.S. neighborhoods.
In the E 78th St / 1st 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 36.2% of residents here. This is a higher proportion of walking commuters than we found in 99.5% 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 22.5% of the E 78th St / 1st Ave neighborhood's commuters ride the train to and from work each day, which is more than we found in 97.7% of America's neighborhoods.
Finally, our research revealed that more commuters here take the bus to work (11.3% ride the bus) than 95.9% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.
Do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 87.0% of the adults living in the E 78th St / 1st Ave neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 99.3% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
In addition, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 50.7%. This is a higher percent living alone than we found in 95.8% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.
Also, if you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the E 78th St / 1st Ave neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 95.3% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the E 78th St / 1st Ave neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for young, single professionals.
Executives, managers and professionals make up 82.1% of the workforce in the E 78th St / 1st Ave neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 99.3% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Did you know that the E 78th St / 1st Ave neighborhood has more Eastern European and Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.4% of this neighborhood's residents have Eastern European ancestry and 9.8% have Arab ancestry.
E 78th St / 1st Ave is also pretty special linguistically. Significantly, 8.3% of its residents five years old and above primarily speak Arabic at home. While this may seem like a small percentage, it is higher than 99.4% of the neighborhoods in America.
There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.
The neighbors in the E 78th St / 1st Ave neighborhood in New York are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 83.2% of the neighborhoods in America. With 22.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 72.5% of U.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 78th St / 1st Ave neighborhood, 82.1% 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 10.2% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (6.4%), and 4.4% in government jobs, whether they are in local, state, or federal positions.
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 78th St / 1st Ave neighborhood is English, spoken by 62.9% of households. Other important languages spoken here include Arabic, Spanish, French and Portuguese.
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 78th St / 1st Ave neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Asian (10.4%). There are also a number of people of Arab ancestry (9.8%), and residents who report Eastern European roots (7.4%), and some of the residents are also of German ancestry (5.2%), along with some Italian ancestry residents (4.0%), among others. In addition, 28.2% 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 78th St / 1st Ave neighborhood spend between 30 and 45 minutes commuting one-way to work (41.8% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (36.2%) 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 11.3% of residents also ride the bus 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.
