Little Italy median real estate price is $4,188,684, which is more expensive than 99.3% of the neighborhoods in New York and 99.8% of the neighborhoods in the U.S.
The average rental price in Little Italy is currently $3,607, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 62.2% of the neighborhoods in New York.
Little Italy is a densely urban neighborhood (based on population density) located in New York, New York.
Little Italy 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 Little Italy 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 Little Italy. The current real estate vacancy rate here is 17.7%. This is higher than the rate of vacancies in 85.1% 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.
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 101,865 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 Little Italy neighborhood is among the top 5% of American neighborhoods in terms of walkability.
In addition, the real estate in the Little Italy 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, 92.6% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.6% of American neighborhoods.
Furthermore, the Little Italy 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 92.3% 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.
Also of note, 93.5% of the real estate in the Little Italy neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Finally, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Little Italy neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 80.7% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 99.7% of the neighborhoods in the United States.
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Little Italy neighborhood have a highly unusual car ownership. 76.4% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.8% of U.S. neighborhoods.
More people in Little Italy choose to walk to work each day (24.6%) 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.
Also, 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 Little Italy neighborhood is a fantastic option for bicycle commuters, as 5.9% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 98.8% of the neighborhoods in America.
Finally, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 30.4% of the Little Italy neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.4% of America's neighborhoods.
NeighborhoodScout's analysis shows that the Little Italy neighborhood has a greater concentration of residents currently enrolled in college than 96.9% of the neighborhoods in the U.S. With 14.1% of the population here attending college, this is very much a college-focused neighborhood.
Did you know that the Little Italy neighborhood has more Romanian and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 12.8% of this neighborhood's residents have Romanian ancestry and 4.5% have Eastern European ancestry.
Little Italy is also pretty special linguistically. Significantly, 31.3% 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 99.6% 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 Little Italy 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 72.8% of the neighborhoods in America. In addition, 6.6% 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 58.7% 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 Little Italy neighborhood, 61.2% 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 17.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (13.1%), and 8.1% 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 Little Italy neighborhood is English, spoken by 47.9% of households. Other important languages spoken here include Chinese and Spanish.
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 Little Italy neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Asian (38.4%). There are also a number of people of Romanian ancestry (12.8%), and residents who report Italian roots (8.9%), and some of the residents are also of Irish ancestry (5.7%), along with some English ancestry residents (4.8%), among others. In addition, 42.8% 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 Little Italy neighborhood spend between 15 and 30 minutes commuting one-way to work (45.6% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (30.4%) 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 (24.6%) and 5.9% 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.
