Sheridan Hollow median real estate price is $263,653, which is less expensive than 79.2% of New York neighborhoods and 65.5% of all U.S. neighborhoods.
The average rental price in Sheridan Hollow is currently $1,607, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 79.3% of New York neighborhoods.
Sheridan Hollow is a densely urban neighborhood (based on population density) located in Albany, New York.
Sheridan Hollow real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the Sheridan Hollow 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 1970 and 1999.
Vacant apartments or homes are a major fact of life in Sheridan Hollow. The current real estate vacancy rate here is 31.5%. This is higher than the rate of vacancies in 95.3% 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.
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 Sheridan Hollow 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, 72.5% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 99.8% of America's neighborhoods.
In addition, being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the Sheridan Hollow neighborhood is one of the most walkable neighborhoods in America.
Furthermore, despite all of the residential real estate here in the Sheridan Hollow neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 31.5%, which is higher than 95.3% of all U.S. neighborhoods.
Occupations
The government often provides some of the more stable jobs in the economy. From local, to state, to federal government workers, the government can also be a major employer. What NeighborhoodScout's analysis revealed, is that the Sheridan Hollow neighborhood in particular stands out when compared nationally for the proportion of its working residents who are employed by the government. At 20.0% of its workforce, this neighborhood has a greater concentration of government workers than 99.0% of U.S. neighborhoods.
Furthermore, there are more people living in the Sheridan Hollow neighborhood employed as sales and service workers (56.3%) than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.
Modes of Transportation
More people in Sheridan Hollow choose to walk to work each day (18.9%) 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, more people ride the bus in this neighborhood each day to get to work than 97.7% of U.S. neighborhoods.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the Sheridan Hollow neighborhood buck this trend. 21.0% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 95.5% of U.S. neighborhoods.
Diversity
Did you know that the Sheridan Hollow neighborhood has more Sub-Saharan African and Jamaican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 21.8% of this neighborhood's residents have Sub-Saharan African ancestry and 11.4% have Jamaican ancestry.
Sheridan Hollow is also pretty special linguistically. Significantly, 9.9% of its residents five years old and above primarily speak French at home. While this may seem like a small percentage, it is higher than 99.1% 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 Sheridan Hollow neighborhood in Albany are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 94.9% of U.S. neighborhoods. With 38.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 88.4% 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 Sheridan Hollow neighborhood, 43.7% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 31.2% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (20.0%), and 14.7% 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 Sheridan Hollow neighborhood is English, spoken by 83.3% of households. Other important languages spoken here include French and Vietnamese.
Ethnicity / Ancestry
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the Sheridan Hollow neighborhood in Albany, NY, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (21.8%). There are also a number of people of Jamaican ancestry (11.4%), and residents who report Italian roots (4.9%), and some of the residents are also of Asian ancestry (4.1%), along with some Puerto Rican ancestry residents (2.9%), among others. In addition, 12.0% 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 Sheridan Hollow neighborhood spend between 15 and 30 minutes commuting one-way to work (42.5% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (34.3%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (19.1%) and 18.9% of residents also hop out the door and walk to work 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.
