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Real Estate Prices & Overview

Silver Lake median real estate price is $848,909, which is more expensive than 54.4% of the neighborhoods in New York and 62.9% of the neighborhoods in the U.S.

The average rental price in Silver Lake is currently $3,990, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 70.4% of the neighborhoods in New York.

Silver Lake is an urban neighborhood (based on population density) located in Staten Island, New York.

Silver Lake 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 Silver Lake neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

Real estate vacancies in Silver Lake are 3.5%, which is lower than one will find in 74.8% of American neighborhoods. Demand for real estate in Silver Lake is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Staten Island, the Silver Lake neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Modes of Transportation

In the Silver Lake neighborhood, 6.1% 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 99.9% of the neighborhoods in America.

Also, more people ride the bus in this neighborhood each day to get to work than 96.9% of U.S. neighborhoods.

Finally, in the Silver Lake neighborhood, 12.3% 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 96.3% of the neighborhoods in America.

Length of Commute

Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The Silver Lake neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the Silver Lake neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 17.3% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 99.2% of all neighborhoods in America.

Real Estate

Three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The Silver Lake neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 31.1% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 95.1% of America's neighborhoods.

People

The Silver Lake neighborhood stands out within New York for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 8.9% of college-friendly places to live in NY.

Diversity

Did you know that the Silver Lake neighborhood has more Italian and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 23.2% of this neighborhood's residents have Italian ancestry and 13.6% have Puerto Rican ancestry.

Silver Lake is also pretty special linguistically. Significantly, 3.6% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 97.8% of the neighborhoods in America.

The Neighbors

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 Silver Lake neighborhood in Staten Island are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 74.1% of the neighborhoods in America. With 15.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 62.4% of U.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 Silver Lake neighborhood, 57.5% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 17.1% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (13.7%), and 11.7% 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 Silver Lake neighborhood is English, spoken by 73.4% of households. Other important languages spoken here include Spanish and African languages.

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 Silver Lake neighborhood in Staten Island, NY, residents most commonly identify their ethnicity or ancestry as Italian (23.2%). There are also a number of people of Puerto Rican ancestry (13.6%), and residents who report Irish roots (13.6%), and some of the residents are also of Asian ancestry (11.2%), along with some English ancestry residents (7.0%), among others. In addition, 25.1% of the residents of this neighborhood were born in another country.

Getting to Work

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 Silver Lake neighborhood spend between 45 minutes and one hour commuting one-way to work (23.0% of working residents), longer and tougher than most commutes in America.

Here most residents (52.4%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (13.0%) and 12.3% of residents also take the train for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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