Chinatown West median real estate price is $3,295,406, which is more expensive than 93.6% of the neighborhoods in New York and 97.9% of the neighborhoods in the U.S.
The average rental price in Chinatown West is currently $547, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 100.0% of New York neighborhoods.
Chinatown West is a densely urban neighborhood (based on population density) located in New York, New York.
Chinatown West real estate is primarily made up of small (studio to two 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 Chinatown West neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built before 1940.
In Chinatown West, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Chinatown West is very tight compared to the demand for property here.
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 Chinatown West neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
100.0% of the real estate in the Chinatown West neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America. This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Chinatown West neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.
In addition, the Chinatown West 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 100.0% 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, one of the really unique and interesting things about the look and setting of the Chinatown West neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 83.9% 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 97.3% of all neighborhoods in America.
Also of note, most neighborhoods are composed of a mixture of ages of homes, but the Chinatown West stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 86.2% of the residential real estate here was built in this one time period.
People
One of the unique characteristics of the Chinatown West neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 99.9% of the neighborhoods in America. In a nation where 1 out of every 4 children lives in poverty, the Chinatown West neighborhood also stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, an interesting characteristic about the Chinatown West neighborhood is that there are more incarcerated people living here than 99.8% of neighborhoods in the U.S. The United States has the highest rate of incarceration in the world, currently with 1 out of every 100 adults in the country are incarcerated as a punishment for crimes committed. The extremely high incarceration rate of this neighborhood could mean that a prison, juvenile detention facility or other correctional facility occupies a large proportion of the neighborhood, or contains a large portion of the neighborhood's population.
Also, the Chinatown West neighborhood is unique for having just 4.8% of adults here having earned a bachelor's degree. This is a lower rate of college graduates than NeighborhoodScout found in 97.3% of America's neighborhoods.
Modes of Transportation
More people ride the bus in this neighborhood each day to get to work than 100.0% of U.S. neighborhoods.
Occupations
There are more people living in the Chinatown West neighborhood employed as sales and service workers (50.0%) than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.
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 Chinatown West neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.9% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Diversity
Did you know that the Chinatown West neighborhood has more Jamaican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 12.9% of this neighborhood's residents have Jamaican ancestry.
Chinatown West is also pretty special linguistically. Significantly, 7.1% of its residents five years old and above primarily speak Chinese at home. While this may seem like a small percentage, it is higher than 96.7% 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 Chinatown West neighborhood in New York are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 99.9% 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 Chinatown West neighborhood, 50.0% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 50.0% of the residents employed.
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 Chinatown West neighborhood is English, spoken by 71.5% of households. Other important languages spoken here include Spanish and Chinese.
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 Chinatown West neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Jamaican (12.9%). There are also a number of people of Asian ancestry (8.5%), and residents who report Puerto Rican roots (4.0%), and some of the residents are also of Dominican ancestry (2.4%), along with some Italian ancestry residents (1.2%), among others. In addition, 23.0% 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 Chinatown West neighborhood spend between 30 and 45 minutes commuting one-way to work (100.0% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (100.0%) ride the bus to get to work. The bus provides a valuable service in the Chinatown West neighborhood of New York by getting a lot of residents to and from work daily, reducing the costs of commuting and reducing some congestion on the roads as well.
