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Real Estate Prices & Overview

Binghamton University median real estate price is $308,215, which is less expensive than 75.4% of New York neighborhoods and 61.7% of all U.S. neighborhoods.

The average rental price in Binghamton University is currently $1,766, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 80.1% of New York neighborhoods.

Binghamton University is a suburban neighborhood (based on population density) located in Vestal, New York.

Binghamton University real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Binghamton University neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 and the present.

Binghamton University has a 15.0% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 80.0% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

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 Vestal, the Binghamton University neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

Of note is NeighborhoodScout's research finding that the Binghamton University 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 Binghamton University community truly stands out from the rest in this regard.

In addition, an extraordinary 77.6% of the residents of the Binghamton University neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.

Modes of Transportation

More people in Binghamton University choose to walk to work each day (17.0%) 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.

Real Estate

Renter-occupied real estate is dominant in the Binghamton University neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 86.4%, which is higher than 95.7% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.

Length of Commute

Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Residents of the Binghamton University neighborhood have the pleasure of having one of the shortest commutes to work of any neighborhood in America. 57.4% of the residents have a commute time from home to work (one way) of less than fifteen minutes. This is a higher proportion of residents enjoying a short trip to work than NeighborhoodScout found in 95.1% of U.S. neighborhoods. Less time commuting means more time for other things in life.

Diversity

Did you know that the Binghamton University neighborhood has more Iranian and Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.0% of this neighborhood's residents have Iranian ancestry and 0.7% have Armenian ancestry.

Binghamton University is also pretty special linguistically. Significantly, 7.8% 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 97.0% 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 Binghamton University neighborhood in Vestal are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 82.2% of U.S. neighborhoods. 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.

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 Binghamton University neighborhood, 39.0% 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 33.7% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (14.9%), and 10.8% in clerical, assistant, and tech support 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 Binghamton University neighborhood is English, spoken by 80.3% of households. Other important languages spoken here include Chinese, Spanish and French.

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 Binghamton University neighborhood in Vestal, NY, residents most commonly identify their ethnicity or ancestry as Asian (17.0%). There are also a number of people of German ancestry (4.8%), and residents who report Irish roots (4.6%), and some of the residents are also of Italian ancestry (4.5%), along with some English ancestry residents (3.1%), among others.

Getting to Work

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 Binghamton University neighborhood spend under 15 minutes commuting one-way to work (57.4% of working residents), one of the shortest commutes across America.

Here most residents (49.7%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (17.0%) and 8.5% of residents also carpool with coworkers, friends, or neighbors 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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