50th St / 8th Ave median real estate price is $1,738,799, which is more expensive than 91.1% of the neighborhoods in New York and 97.3% of the neighborhoods in the U.S.
The average rental price in 50th St / 8th Ave is currently $2,913, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 52.9% of New York neighborhoods.
50th St / 8th Ave is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
50th St / 8th Ave 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 50th St / 8th 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 50th St / 8th Ave. The current real estate vacancy rate here is 18.6%. This is higher than the rate of vacancies in 84.8% 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.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
Real Estate
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 97,439 people per square mile, it is more densely populated than 99.6% of America's neighborhoods. 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 50th St / 8th Ave neighborhood is one of the most walkable neighborhoods in America.
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 50th St / 8th 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, 46.3% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 98.0% of America's neighborhoods.
Furthermore, 86.4% of the real estate in the 50th St / 8th Ave neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Also of note, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 77.0% of the residential real estate in the 50th St / 8th Ave neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 99.4% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
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 50th St / 8th Ave 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 50th St / 8th Ave neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 22.2% 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 99.7% of all neighborhoods in America.
Car Ownership
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 50th St / 8th Ave neighborhood have a highly unusual car ownership. 53.5% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.9% of U.S. neighborhoods.
People
The 50th St / 8th Ave neighborhood has a greater percentage of children living in poverty (63.6%) than found in 97.6% 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.
In addition, astoundingly, NeighborhoodScout's research reveals that this single neighborhood has a higher concentration of married couples living here than 95.7% of all U.S. neighborhoods. Whether they have school-aged children or not, married couples are the rule in the 50th St / 8th Ave neighborhood. If you are a married couple, you may find many people here with a similar lifestyle, and perhaps common interests. But if you are single, you might not find many other singles here.
Modes of Transportation
More people in 50th St / 8th Ave choose to walk to work each day (15.8%) 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, in the 50th St / 8th Ave neighborhood, 17.9% 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 96.9% of the neighborhoods in America.
Finally, if your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 3.7% of residents in the 50th St / 8th Ave neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 96.9% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.
Diversity
Did you know that the 50th St / 8th Ave neighborhood has more Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 81.6% of this neighborhood's residents have Asian ancestry.
50th St / 8th Ave is also pretty special linguistically. Significantly, 78.6% of its residents five years old and above primarily speak Chinese at home. This is a higher percentage than 100.0% of all U.S. neighborhoods.
Migration / Stability
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the 50th St / 8th Ave neighborhood. More residents of the 50th St / 8th Ave neighborhood live here today that also were living in this same neighborhood five years ago than is found in 98.3% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while. What is interesting to note, is that the 50th St / 8th Ave neighborhood has a greater percentage of residents born in another country (70.3%) than are found in 99.8% of all U.S. neighborhoods.
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 50th St / 8th 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 67.3% of U.S. neighborhoods. With 63.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 97.6% 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 50th St / 8th Ave neighborhood, 38.7% of the working population is employed in manufacturing and laborer 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 29.1% of the residents employed. Other residents here are employed in executive, management, and professional occupations (17.4%), and 14.9% 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 50th St / 8th Ave neighborhood is Chinese, spoken by 78.6% of households. Other important languages spoken here include English, Spanish, Langs. of India and Urdu (the national language of Pakistan).
Ethnicity / Ancestry
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the 50th St / 8th Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Asian (81.6%). There are also a number of people of Mexican ancestry (6.7%), and residents who report Polish roots (2.6%), and some of the residents are also of Italian ancestry (1.3%), along with some Dominican ancestry residents (1.2%), among others. In addition, 70.3% 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 50th St / 8th Ave neighborhood spend under 15 minutes commuting one-way to work (26.9% of working residents), one of the shortest commutes across America. However, there is also a significant group of residents (22.2%) who commute over an hour in each direction.
Here most residents (24.5%) carpool with coworkers, friends, or neighbors to get to work. In addition, quite a number also take the train to get to work (17.9%) and 17.3% of residents also drive alone in a private automobile for their daily commute. Despite relying on the automobile to get to work, residents of this neighborhood share the ride more than most neighborhoods, reducing traffic, pollution, and saving money.
