Bay Ridge median real estate price is $1,305,726, which is more expensive than 80.3% of the neighborhoods in New York and 92.8% of the neighborhoods in the U.S.
The average rental price in Bay Ridge is currently $3,625, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 66.2% of the neighborhoods in New York.
Bay Ridge is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
Bay Ridge 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 Bay Ridge 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.
Bay Ridge has a 14.6% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 76.9% 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.
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 Bay Ridge neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
The Bay Ridge neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 47,212 persons per square mile in the neighborhood, it is more packed with people than 98.3% of the nation'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 Bay Ridge neighborhood is one of the most walkable neighborhoods in America.
In addition, corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the Bay Ridge neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 31.9% of the real estate here is made up of such dwellings, which is higher than 95.2% of all U.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 Bay Ridge neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 67.7% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 98.2% of the neighborhoods in the United States.
Modes of Transportation
In the Bay Ridge neighborhood, 49.7% 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 99.4% of the neighborhoods in America.
Also, if your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 2.8% of residents in the Bay Ridge neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 95.4% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the Bay Ridge neighborhood buck this trend. 44.7% 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.
People
The Bay Ridge neighborhood stands out within New York for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 6.6% of college-friendly places to live in NY.
Diversity
Did you know that the Bay Ridge neighborhood has more Arab and Ukrainian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 24.0% of this neighborhood's residents have Arab ancestry and 4.9% have Ukrainian ancestry.
Bay Ridge is also pretty special linguistically. Significantly, 14.1% of its residents five years old and above primarily speak Arabic at home. While this may seem like a small percentage, it is higher than 99.8% 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 Bay Ridge neighborhood in Brooklyn are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 53.3% of the neighborhoods in America. With 14.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 59.7% of U.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 Bay Ridge neighborhood, 58.9% 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 15.4% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (13.7%), and 12.0% 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 Bay Ridge neighborhood is English, spoken by 48.4% of households. Other important languages spoken here include Spanish, Arabic, Chinese 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 Bay Ridge neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Arab (24.0%). There are also a number of people of Asian ancestry (13.6%), and residents who report Italian roots (9.5%), and some of the residents are also of Irish ancestry (7.3%), along with some English ancestry residents (6.4%), among others. In addition, 40.3% of the residents of this neighborhood were born in another country.
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 Bay Ridge neighborhood spend between 45 minutes and one hour commuting one-way to work (48.0% of working residents), longer and tougher than most commutes in America.
Here most residents (49.7%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (15.2%) and 7.4% of residents also hop out the door and walk to work 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.
