Financial District median real estate price is $1,120,677, which is more expensive than 78.8% of the neighborhoods in New York and 92.8% of the neighborhoods in the U.S.
The average rental price in Financial District is currently $6,883, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 99.0% of the neighborhoods in New York.
Financial District is a densely urban neighborhood (based on population density) located in New York, New York. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Financial District 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 single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Financial District 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 Financial District. The current real estate vacancy rate here is 25.6%. This is higher than the rate of vacancies in 92.3% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually 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.
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 107,822 people per square mile, it is more densely populated than 99.7% 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 Financial District neighborhood is among the top 5% of American neighborhoods in terms of walkability. Financial District is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, Financial District is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.
In addition, one of the really unique and interesting things about the look and setting of the Financial District neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 97.3% 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 Financial District 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 91.8% 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.
Also of note, renter-occupied real estate is dominant in the Financial District neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 84.4%, which is higher than 95.1% 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.
Finally, 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 59.4% of the residential real estate in the Financial District neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 96.3% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
People
Wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Financial District neighborhood is wealthier than 97.6% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood. As one would expect in a considerably wealthy neighborhood such as this, Financial District also has one of the lowest ratings of child poverty in the nation.
In addition, the rate of college educated adults in the Financial District neighborhood is a unique characteristic of the neighborhood. 89.3% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 34.3% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 99.6% of all U.S. neighborhoods.
Also, 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 Financial District neighborhood: a neighborhood in which more "urban sophisticates" live than 98.9% 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 young, single professionals and highly educated executives.
Finally, one of the most interesting things about the Financial District neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 52.3% 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 96.7% of the neighborhoods in America.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the Financial District neighborhood buck this trend. 93.4% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 100.0% of U.S. neighborhoods.
Modes of Transportation
If you like to ride a ferry to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 2.7% of the Financial District neighborhood's commuters ride a ferry to and from work each day, which is more than we found in 99.6% of America's neighborhoods.
Also, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 52.4% of the Financial District neighborhood's commuters ride the train to and from work each day, which is more than we found in 99.5% of America's neighborhoods.
Finally, more people in Financial District choose to walk to work each day (25.2%) 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.
Occupations
Executives, managers and professionals make up 75.4% of the workforce in the Financial District neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 97.9% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Diversity
Did you know that the Financial District neighborhood has more Eastern European and Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.2% of this neighborhood's residents have Eastern European ancestry and 0.8% have Iranian ancestry.
Financial District is also pretty special linguistically. Significantly, 6.2% 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 96.1% of the neighborhoods in America.
Migration / Stability
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. In the Financial District neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 96.2% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 Financial District 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 97.6% 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.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the Financial District neighborhood, 75.4% 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 19.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (5.2%), and 2.2% 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 Financial District neighborhood is English, spoken by 77.8% of households. Other important languages spoken here include Chinese, Spanish, Langs. of India and French.
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 Financial District neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Irish (15.3%). There are also a number of people of Italian ancestry (13.2%), and residents who report Asian roots (13.0%), and some of the residents are also of German ancestry (9.7%), along with some Polish ancestry residents (7.7%), among others. In addition, 20.5% 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 Financial District neighborhood spend between 15 and 30 minutes commuting one-way to work (40.0% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (52.4%) 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 (25.2%) . 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.
