47th St / 7th Ave median real estate price is $1,582,095, which is more expensive than 77.3% of the neighborhoods in New York and 91.1% of the neighborhoods in the U.S.
The average rental price in 47th St / 7th Ave is currently $2,992, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 52.6% of New York neighborhoods.
47th St / 7th Ave is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
47th St / 7th Ave 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 47th St / 7th Ave 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 47th St / 7th Ave. The current real estate vacancy rate here is 20.6%. This is higher than the rate of vacancies in 88.4% 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.
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 Brooklyn, the 47th St / 7th Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
What you'll find when you visit or move to this neighborhood is one of the most crowded neighborhoods in all of America. With an incredible 107,294 people per square mile, it is more densely populated than 99.7% of America'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 47th St / 7th Ave neighborhood is among the top 5% of American neighborhoods in terms of walkability.
In addition, 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 47th St / 7th Ave 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, 56.5% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 99.0% of America's neighborhoods.
Furthermore, 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 47th St / 7th Ave neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 79.4% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 99.6% of the neighborhoods in the United States.
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the 47th St / 7th Ave neighborhood have a highly unusual car ownership. 47.1% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.5% of U.S. neighborhoods.
If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 33.0% of the 47th St / 7th Ave neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.5% of America's neighborhoods.
Also, our research revealed that more commuters here take the bus to work (10.6% ride the bus) than 95.4% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.
The 47th St / 7th Ave neighborhood has a greater percentage of children living in poverty (54.5%) than found in 95.6% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.
Did you know that the 47th St / 7th Ave neighborhood has more Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 69.3% of this neighborhood's residents have Asian ancestry.
47th St / 7th Ave is also pretty special linguistically. Significantly, 56.8% of its residents five years old and above primarily speak Chinese at home. This is a higher percentage than 99.9% of all U.S. neighborhoods.
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. What is interesting to note, is that the 47th St / 7th Ave neighborhood has a greater percentage of residents born in another country (54.6%) than are found in 98.5% of all U.S. neighborhoods.
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 47th St / 7th Ave neighborhood in Brooklyn are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 84.6% of U.S. neighborhoods. With 54.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 95.6% of U.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 47th St / 7th Ave neighborhood, 35.5% 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 23.3% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (22.2%), and 19.0% in clerical, assistant, and tech support occupations.
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 47th St / 7th Ave neighborhood is Chinese, spoken by 56.8% of households. Other important languages spoken here include English, Spanish and Polish.
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 47th St / 7th Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Asian (69.3%). There are also a number of people of Mexican ancestry (11.2%), and residents who report Puerto Rican roots (4.5%), and some of the residents are also of Dominican ancestry (2.5%), along with some Polish ancestry residents (2.2%), among others. In addition, 54.6% 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 47th St / 7th Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (45.5% of working residents), longer and tougher than most commutes in America.
Here most residents (33.0%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (24.9%) and 18.9% 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.