Gramercy median real estate price is $1,575,187, which is more expensive than 85.6% of the neighborhoods in New York and 95.0% of the neighborhoods in the U.S.
The average rental price in Gramercy is currently $5,894, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 95.0% of the neighborhoods in New York.
Gramercy is a densely urban neighborhood (based on population density) located in New York, New York.
Gramercy 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 single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Gramercy 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 Gramercy. The current real estate vacancy rate here is 21.5%. This is higher than the rate of vacancies in 88.5% 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.
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
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 Gramercy neighborhood have a highly unusual car ownership. 81.7% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.9% of U.S. neighborhoods.
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 126,382 people per square mile, it is more densely populated than 99.8% 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 Gramercy neighborhood is one of the most walkable neighborhoods in America.
In addition, one of the really unique and interesting things about the look and setting of the Gramercy neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 93.5% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 98.7% of all neighborhoods in America.
Furthermore, the Gramercy neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 90.3% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
Modes of Transportation
More people in Gramercy choose to walk to work each day (22.3%) 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, would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the Gramercy neighborhood is a fantastic option for bicycle commuters, as 5.2% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 98.3% of the neighborhoods in America.
Finally, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 31.8% of the Gramercy neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.3% of America's neighborhoods.
People
Do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 81.7% of the adults living in the Gramercy neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 98.3% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
In addition, one of the most interesting things about the Gramercy neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 54.0% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 97.4% of the neighborhoods in America.
Also, if you're looking for an active nightlife with lots of opportunities to flirt and find romance, then you probably won't have to go too far from the Gramercy neighborhood to find it. Only 5.0% of the neighborhoods in the country have a larger proportion of young, single professionals. The nightlife may not be reminiscent of a "Sex and the City" episode, but the people who live here find friendship, romance, fun, and socializing readily available. In addition to being an excellent choice for young, single professionals, this neighborhood is also a very good choice for urban sophisticates.
Diversity
Did you know that the Gramercy neighborhood has more Eastern European and Croatian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.0% of this neighborhood's residents have Eastern European ancestry and 0.9% have Croatian ancestry.
Gramercy is also pretty special linguistically. Significantly, 2.9% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 97.5% of the neighborhoods in America.
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 Gramercy neighborhood in New York 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 85.4% of the neighborhoods in America. With 32.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 83.7% of U.S. neighborhoods.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the Gramercy neighborhood, 68.5% 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 23.7% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (6.5%), and 2.6% in government jobs, whether they are in local, state, or federal positions.
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 Gramercy neighborhood is English, spoken by 79.9% of households. Other important languages spoken here include Spanish, French, Korean and Langs. of India.
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 Gramercy neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Italian (11.4%). There are also a number of people of Asian ancestry (11.0%), and residents who report Polish roots (8.7%), and some of the residents are also of German ancestry (6.9%), along with some Irish ancestry residents (6.4%), among others. In addition, 14.7% 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 Gramercy neighborhood spend between 15 and 30 minutes commuting one-way to work (44.9% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (31.8%) take the train to get to work. In addition, quite a number also hop out the door and walk to work to get to work (22.3%) and 7.9% 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.
