Park Slope East median real estate price is $1,904,320, which is more expensive than 91.7% of the neighborhoods in New York and 97.5% of the neighborhoods in the U.S.
The average rental price in Park Slope East is currently $5,111, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 92.0% of the neighborhoods in New York.
Park Slope East is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
Park Slope East 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 occupied by a mixture of owners and renters. Many of the residences in the Park Slope East 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.
Park Slope East has a 10.2% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 62.4% 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 Park Slope East neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
Wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Park Slope East neighborhood is wealthier than 98.5% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood. As one would expect in a considerably wealthy neighborhood such as this, Park Slope East also has one of the lowest ratings of child poverty in the nation.
In addition, think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the Park Slope East neighborhood: a neighborhood in which more "urban sophisticates" live than 99.7% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives.
Also, some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 55.3% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 99.6% of U.S. neighborhoods, where the average American neighborhood has 13.4% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.
Occupations
Executives, managers and professionals make up 87.1% of the workforce in the Park Slope East neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 99.8% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Real Estate
The Park Slope East neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 53,749 persons per square mile in the neighborhood, it is more packed with people than 98.6% 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 Park Slope East neighborhood is among the top 5% of American neighborhoods in terms of walkability.
In addition, 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 73.8% of the residential real estate in the Park Slope East neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 99.1% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
Modes of Transportation
In the Park Slope East neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 38.5% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 99.4% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
Also, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 47.4% of the Park Slope East neighborhood's commuters ride the train to and from work each day, which is more than we found in 99.3% of America's neighborhoods.
Car Ownership
We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Park Slope East neighborhood has a highly unusual pattern of car ownership. 63.8% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.4% of U.S. neighborhoods.
Diversity
Did you know that the Park Slope East neighborhood has more Eastern European and Lebanese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.6% of this neighborhood's residents have Eastern European ancestry and 2.4% have Lebanese ancestry.
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 Park Slope East neighborhood in Brooklyn are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 98.5% 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.
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 Park Slope East neighborhood, 87.1% 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 9.6% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (3.8%), and 3.3% 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 Park Slope East neighborhood is English, spoken by 84.3% of households. Other important languages spoken here include Spanish and Italian.
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 Park Slope East neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as English (17.0%). There are also a number of people of German ancestry (16.9%), and residents who report Italian roots (10.5%), and some of the residents are also of Irish ancestry (9.9%), along with some Asian ancestry residents (7.8%), among others. In addition, 14.9% 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 Park Slope East neighborhood spend between 30 and 45 minutes commuting one-way to work (40.0% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (47.4%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (7.8%) . 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.
