Gramercy South median real estate price is $1,056,348, which is more expensive than 76.3% of the neighborhoods in New York and 91.6% of the neighborhoods in the U.S.
The average rental price in Gramercy South is currently $5,564, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 93.3% of the neighborhoods in New York.
Gramercy South is a densely urban neighborhood (based on population density) located in New York, New York.
Gramercy South 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 Gramercy South neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.
Vacant apartments or homes are a major fact of life in Gramercy South. The current real estate vacancy rate here is 26.8%. This is higher than the rate of vacancies in 93.0% 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 102,487 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 Gramercy South 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 Gramercy South 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 98.5% of all neighborhoods in America.
Furthermore, the Gramercy South 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 86.3% 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.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the Gramercy South neighborhood buck this trend. 67.7% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.5% of U.S. neighborhoods.
Modes of Transportation
Would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the Gramercy South neighborhood is a fantastic option for bicycle commuters, as 6.9% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 99.1% of the neighborhoods in America.
Also, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 36.6% of the Gramercy South neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.6% of America's neighborhoods.
Finally, more people in Gramercy South choose to walk to work each day (22.2%) 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.
People
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 84.8% of the adults living in the Gramercy South neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 99.0% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
In addition, 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 Gramercy South neighborhood: a neighborhood in which more "urban sophisticates" live than 97.5% 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.
Also, there is an especially high percentage of incarcerated people (1.9%) living in the Gramercy South neighborhood.
Finally, 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 Gramercy South neighborhood is wealthier than 96.7% 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.
Occupations
Executives, managers and professionals make up 71.2% of the workforce in the Gramercy South neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 96.1% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Diversity
Did you know that the Gramercy South neighborhood has more Eastern European and Ukrainian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.3% of this neighborhood's residents have Eastern European ancestry and 1.9% have Ukrainian ancestry.
Gramercy South is also pretty special linguistically. Significantly, 5.6% 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 95.6% of the neighborhoods in America.
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 Gramercy South 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.
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 Gramercy South 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 96.7% of the neighborhoods in America. In addition, 3.1% 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 71.1% 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 Gramercy South neighborhood, 71.2% 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 15.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (7.5%), and 5.8% in manufacturing and laborer 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 Gramercy South neighborhood is English, spoken by 78.1% of households. Other important languages spoken here include Spanish, Chinese and Italian.
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 Gramercy South neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Asian (18.6%). There are also a number of people of German ancestry (10.2%), and residents who report English roots (8.5%), and some of the residents are also of Italian ancestry (8.2%), along with some Irish ancestry residents (5.9%), among others. In addition, 16.1% 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 Gramercy South neighborhood spend between 15 and 30 minutes commuting one-way to work (47.4% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (36.6%) 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 (22.2%) and 6.9% of residents also bicycle for their daily commute. 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.
