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.
Of note is NeighborhoodScout's research finding that the Kips Bay neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Kips Bay community truly stands out from the rest in this regard.
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. 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 Kips Bay neighborhood is among the top 5% of American neighborhoods in terms of walkability.
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.
We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Kips Bay neighborhood has a highly unusual pattern of car ownership. 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.
In the Kips Bay neighborhood, 1.3% of people ride a ferry to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of ferry ridership than in 99.2% of the neighborhoods in America.
Also, in the Kips Bay neighborhood, 31.1% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 98.5% of the neighborhoods in America.
Finally, in the Kips Bay 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 15.8% of residents here. This is a higher proportion of walking commuters than we found in 97.4% of American neighborhoods. Get ready to put on your walking shoes if you move here!
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.
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 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.
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 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
Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.
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.
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 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.
