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Real Estate Prices & Overview

Spencer Ave / W 261st St median real estate price is $426,786, which is less expensive than 65.8% of New York neighborhoods and 47.0% of all U.S. neighborhoods.

The average rental price in Spencer Ave / W 261st St is currently $3,307, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 61.1% of the neighborhoods in New York.

Spencer Ave / W 261st St is a densely urban neighborhood (based on population density) located in Bronx, New York.

Spencer Ave / W 261st 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 renter occupied. Many of the residences in the Spencer Ave / W 261st St neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

In Spencer Ave / W 261st St, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Spencer Ave / W 261st St is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

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

This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Spencer Ave / W 261st St neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.

In addition, the Spencer Ave / W 261st St neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 36,368 persons per square mile in the neighborhood, it is more packed with people than 97.6% 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 Spencer Ave / W 261st St neighborhood is among the top 5% of American neighborhoods in terms of walkability.

People

In a nation where 1 out of every 4 children lives in poverty, the Spencer Ave / W 261st St neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

Modes of Transportation

If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 21.7% of the Spencer Ave / W 261st St neighborhood's commuters ride the train to and from work each day, which is more than we found in 97.6% of America's neighborhoods.

Also, 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 Spencer Ave / W 261st St neighborhood is a fantastic option for bicycle commuters, as 3.2% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 96.3% of the neighborhoods in America.

Length of Commute

Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the Spencer Ave / W 261st St neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 11.0% 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 96.6% of all neighborhoods in America.

Diversity

Did you know that the Spencer Ave / W 261st St neighborhood has more Dominican and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 19.9% of this neighborhood's residents have Dominican ancestry and 18.9% have Puerto Rican ancestry.

Spencer Ave / W 261st St is also pretty special linguistically. Significantly, 1.4% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 97.4% of the neighborhoods in America.

The Neighbors

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 Spencer Ave / W 261st St neighborhood in Bronx are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 65.0% 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 Spencer Ave / W 261st St neighborhood, 51.6% 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 30.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (13.5%), and 4.5% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Spencer Ave / W 261st St neighborhood is English, spoken by 44.6% of households. Some people also speak Spanish (40.6%).

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 Spencer Ave / W 261st St neighborhood in Bronx, NY, residents most commonly identify their ethnicity or ancestry as Dominican (19.9%). There are also a number of people of Puerto Rican ancestry (18.9%), and residents who report Russian roots (5.9%), and some of the residents are also of German ancestry (5.8%), along with some Irish ancestry residents (5.3%), among others. In addition, 30.9% 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 Spencer Ave / W 261st St neighborhood spend between 45 minutes and one hour commuting one-way to work (34.1% of working residents), longer and tougher than most commutes in America.

Here most residents (37.5%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (21.7%) and 14.6% 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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