Madison Ave / E 65th St median real estate price is $3,718,115, which is more expensive than 98.9% of the neighborhoods in New York and 99.7% of the neighborhoods in the U.S.
The average rental price in Madison Ave / E 65th St is currently $6,195, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 94.6% of the neighborhoods in New York.
Madison Ave / E 65th St is a densely urban neighborhood (based on population density) located in New York, New York.
Madison Ave / E 65th St 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 occupied by a mixture of owners and renters. Many of the residences in the Madison Ave / E 65th St 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 Madison Ave / E 65th St. The current real estate vacancy rate here is 44.6%. This is higher than the rate of vacancies in 98.4% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (27.7%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, 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.
If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 1.3% of America's neighborhoods are wealthier than the Madison Ave / E 65th St neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. As one would expect in a considerably wealthy neighborhood such as this, Madison Ave / E 65th St also has one of the lowest ratings of child poverty in the nation.
In addition, the rate of college educated adults in the Madison Ave / E 65th St neighborhood is a unique characteristic of the neighborhood. 88.9% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 35.7% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 99.5% of all U.S. neighborhoods.
Also, if you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Madison Ave / E 65th St neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 99.4% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Madison Ave / E 65th St neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives.
The Madison Ave / E 65th St neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.5% of the neighborhoods in America. In fact, 83.7% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
The Madison Ave / E 65th St neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 51,390 persons per square mile in the neighborhood, it is more packed with people than 98.5% of the nation'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 Madison Ave / E 65th St neighborhood is among the top 5% of American neighborhoods in terms of walkability.
In addition, the real estate in the Madison Ave / E 65th St 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, 93.7% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.8% of American neighborhoods.
Furthermore, vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 44.6% of the residential real estate vacant, the Madison Ave / E 65th St neighborhood claims the distinction of having a higher vacancy rate than 98.4% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.
American households most often have a car, and regularly they have two or three. But households in the Madison Ave / E 65th St neighborhood buck this trend. 56.8% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.0% of U.S. neighborhoods.
More people ride the bus in this neighborhood each day to get to work than 98.6% of U.S. neighborhoods.
Also, more people in Madison Ave / E 65th St choose to walk to work each day (21.0%) 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.
Finally, in the Madison Ave / E 65th St neighborhood, 16.1% 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 97.0% of the neighborhoods in America.
Did you know that the Madison Ave / E 65th St neighborhood has more Canadian and Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.8% of this neighborhood's residents have Canadian ancestry and 2.1% have Iranian ancestry.
Madison Ave / E 65th St is also pretty special linguistically. Significantly, 1.7% of its residents five years old and above primarily speak Greek at home. While this may seem like a small percentage, it is higher than 98.7% 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 Madison Ave / E 65th St 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 98.7% 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 Madison Ave / E 65th St neighborhood, 83.7% 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 11.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (5.2%), and 2.9% 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 Madison Ave / E 65th St neighborhood is English, spoken by 83.0% of households. Other important languages spoken here include Spanish and Portuguese.
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 Madison Ave / E 65th St neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as English (11.9%). There are also a number of people of Irish ancestry (6.8%), and residents who report Asian roots (6.4%), and some of the residents are also of German ancestry (6.0%), along with some Polish ancestry residents (5.1%), among others. In addition, 23.2% 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 Madison Ave / E 65th St neighborhood spend between 15 and 30 minutes commuting one-way to work (51.4% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (21.0%) hop out the door and walk to work to get to work. In addition, quite a number also ride the bus to get to work (18.8%) and 16.1% of residents also take the train for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
