E 97th St / Madison Ave median real estate price is $2,939,123, which is more expensive than 96.1% of the neighborhoods in New York and 98.8% of the neighborhoods in the U.S.
The average rental price in E 97th St / Madison Ave is currently $3,495, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 67.6% of the neighborhoods in New York.
E 97th St / Madison Ave is a densely urban neighborhood (based on population density) located in New York, New York.
E 97th St / Madison 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 E 97th St / Madison 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 E 97th St / Madison Ave. The current real estate vacancy rate here is 17.8%. This is higher than the rate of vacancies in 83.4% 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 New York, the E 97th St / Madison Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
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 181,661 people per square mile, it is more densely populated than 100.0% 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 E 97th St / Madison Ave neighborhood is one of the most walkable neighborhoods in America.
In addition, the real estate in the E 97th St / Madison Ave neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 96.3% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.3% of American 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 E 97th St / Madison Ave neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 81.6% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 99.7% of the neighborhoods in the United States.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the E 97th St / Madison Ave neighborhood buck this trend. 78.3% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.8% of U.S. neighborhoods.
Modes of Transportation
More people in E 97th St / Madison Ave choose to walk to work each day (42.7%) 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 E 97th St / Madison Ave neighborhood, 25.8% 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 97.8% 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 3.1% of residents in the E 97th St / Madison Ave neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 96.0% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.
People
If knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the E 97th St / Madison Ave neighborhood, where 42.0% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.4% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 97.7% of the neighborhoods in America.
In addition, if you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the E 97th St / Madison Ave neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 95.8% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the E 97th St / Madison Ave neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for young, single professionals.
Occupations
The E 97th St / Madison Ave neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 97.1% of the neighborhoods in America. In fact, 73.4% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Diversity
Did you know that the E 97th St / Madison Ave neighborhood has more Dominican and Cuban ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 16.2% of this neighborhood's residents have Dominican ancestry and 3.7% have Cuban ancestry.
E 97th St / Madison Ave is also pretty special linguistically. Significantly, 5.0% of its residents five years old and above primarily speak French at home. While this may seem like a small percentage, it is higher than 97.5% of the neighborhoods in America.
Migration / Stability
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. In the E 97th St / Madison Ave neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 95.6% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 E 97th St / Madison Ave neighborhood in New York are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 78.6% of the neighborhoods in America. In addition, 1.9% 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 75.5% 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 E 97th St / Madison Ave neighborhood, 73.4% 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 17.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (8.2%).
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 E 97th St / Madison Ave neighborhood is English, spoken by 54.8% of households. Other important languages spoken here include Spanish, French, Langs. of India and Chinese.
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 E 97th St / Madison Ave neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Dominican (16.2%). There are also a number of people of Asian ancestry (13.3%), and residents who report Irish roots (12.0%), and some of the residents are also of German ancestry (4.9%), along with some Spanish ancestry residents (4.8%), among others. In addition, 38.4% 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 E 97th St / Madison Ave neighborhood spend under 15 minutes commuting one-way to work (48.0% of working residents), one of the shortest commutes across America.
Here most residents (42.7%) hop out the door and walk to work to get to work. In addition, quite a number also take the train to get to work (25.8%) and 8.2% of residents also ride the bus for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
