Kips Bay median real estate price is $1,127,573, which is more expensive than 75.1% of the neighborhoods in New York and 90.7% of the neighborhoods in the U.S.
The average rental price in Kips Bay is currently $4,536, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 81.0% of the neighborhoods in New York.
Kips Bay is a densely urban neighborhood (based on population density) located in New York, New York.
Kips Bay 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 Kips Bay neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
Kips Bay has a 10.6% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 66.5% of American neighborhoods). A relatively large percentage of housing here is seasonally occupied (6.3%), 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.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
In a nation where 1 out of every 4 children lives in poverty, the Kips Bay neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, one of the most interesting things about the Kips Bay neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 49.5% 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 95.0% of the neighborhoods in America.
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 182,958 people per square mile, it is more densely populated than 100.0% of America's neighborhoods. Being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the Kips Bay neighborhood is one of the most walkable neighborhoods in America.
In addition, the real estate in the Kips Bay neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 94.6% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.9% of American neighborhoods.
Furthermore, the Kips Bay 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 90.9% 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.
American households most often have a car, and regularly they have two or three. But households in the Kips Bay neighborhood buck this trend. 84.5% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.9% of U.S. neighborhoods.
If you like to ride a ferry to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 1.3% of the Kips Bay neighborhood's commuters ride a ferry to and from work each day, which is more than we found in 99.2% 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 31.1% of the Kips Bay neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.5% of America's neighborhoods.
Finally, more people in Kips Bay choose to walk to work each day (15.8%) 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.
Did you know that the Kips Bay neighborhood has more Eastern European and Ukrainian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.4% of this neighborhood's residents have Eastern European ancestry and 2.2% have Ukrainian ancestry.
Kips Bay is also pretty special linguistically. Significantly, 1.5% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 97.7% 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 Kips Bay 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 72.9% 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 Kips Bay neighborhood, 67.4% 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 19.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.1%), and 8.7% 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 Kips Bay neighborhood is English, spoken by 72.2% 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 Kips Bay neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Asian (19.1%). There are also a number of people of Irish ancestry (10.8%), and residents who report Puerto Rican roots (10.3%), and some of the residents are also of Italian ancestry (9.7%), along with some English ancestry residents (4.0%), among others. In addition, 18.8% 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 Kips Bay neighborhood spend between 15 and 30 minutes commuting one-way to work (41.0% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (31.1%) 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 (15.8%) and 11.2% of residents also carpool with coworkers, friends, or neighbors 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.
