Madison Ave / E 72nd St median real estate price is $4,579,923, which is more expensive than 97.4% of the neighborhoods in New York and 99.3% of the neighborhoods in the U.S.
The average rental price in Madison Ave / E 72nd St is currently $5,048, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 88.6% of the neighborhoods in New York.
Madison Ave / E 72nd St is a densely urban neighborhood (based on population density) located in New York, New York.
Madison Ave / E 72nd 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 single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Madison Ave / E 72nd 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 72nd St. The current real estate vacancy rate here is 42.0%. This is higher than the rate of vacancies in 97.9% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (27.6%). 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.
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.
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 Madison Ave / E 72nd St neighborhood: a neighborhood in which more "urban sophisticates" live than 99.9% 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 highly educated executives.
In addition, if knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Madison Ave / E 72nd St neighborhood, where 50.9% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.7% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 99.2% of the neighborhoods in America.
Also, one of the most interesting things about the Madison Ave / E 72nd St neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 52.6% 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 96.7% of the neighborhoods in America.
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 Madison Ave / E 72nd St neighborhood is wealthier than 95.7% 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.
The Madison Ave / E 72nd St neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 56,835 persons per square mile in the neighborhood, it is more packed with people than 98.7% 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 72nd St neighborhood is among the top 5% of American neighborhoods in terms of walkability.
In addition, the real estate in the Madison Ave / E 72nd 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, 93.0% 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, vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 42.0% of the residential real estate vacant, the Madison Ave / E 72nd St neighborhood claims the distinction of having a higher vacancy rate than 97.9% 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.
Also of note, 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 Madison Ave / E 72nd St neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 62.5% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 97.2% of the neighborhoods in the United States.
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 Madison Ave / E 72nd St neighborhood is a fantastic option for bicycle commuters, as 6.6% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 99.0% 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 16.2% of the Madison Ave / E 72nd St neighborhood's commuters ride the train to and from work each day, which is more than we found in 96.9% of America's neighborhoods.
Finally, more people in Madison Ave / E 72nd St choose to walk to work each day (13.4%) 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.
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 Madison Ave / E 72nd St neighborhood has a highly unusual pattern of car ownership. 41.3% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.2% of U.S. neighborhoods.
Did you know that the Madison Ave / E 72nd St neighborhood has more Russian and Austrian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.8% of this neighborhood's residents have Russian ancestry and 2.3% have Austrian ancestry.
Madison Ave / E 72nd St is also pretty special linguistically. Significantly, 3.0% 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 99.7% 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 72nd 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 95.7% of the neighborhoods in America. In addition, 5.5% 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 62.5% of America's neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the Madison Ave / E 72nd St neighborhood, 67.5% 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 22.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (8.2%), and 5.5% 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 72nd St neighborhood is English, spoken by 76.9% of households. Other important languages spoken here include Spanish, Chinese, French and Greek.
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 72nd St neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Asian (12.7%). There are also a number of people of German ancestry (12.2%), and residents who report Irish roots (9.4%), and some of the residents are also of Russian ancestry (7.8%), along with some Italian ancestry residents (6.8%), among others. In addition, 12.0% 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 Madison Ave / E 72nd St neighborhood spend between 15 and 30 minutes commuting one-way to work (44.0% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (16.2%) 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 (13.4%) and 11.7% 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.
