Madison Ave / E 81st St median real estate price is $4,199,662, which is more expensive than 98.7% of the neighborhoods in New York and 99.6% of the neighborhoods in the U.S.
The average rental price in Madison Ave / E 81st St is currently $6,375, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 98.6% of the neighborhoods in New York.
Madison Ave / E 81st St is a densely urban neighborhood (based on population density) located in New York, New York.
Madison Ave / E 81st St 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 Madison Ave / E 81st St 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 Madison Ave / E 81st St. The current real estate vacancy rate here is 37.5%. This is higher than the rate of vacancies in 97.3% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (22.4%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, 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.
If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 0.6% of America's neighborhoods are wealthier than the Madison Ave / E 81st St neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. As one would expect in a considerably wealthy neighborhood such as this, Madison Ave / E 81st St also has one of the lowest ratings of child poverty in the nation.
In addition, 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 95.9% of the adults living in the Madison Ave / E 81st St neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 100.0% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
Also, 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 Madison Ave / E 81st St neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 99.9% 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 Madison Ave / E 81st St neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives and active retirees.
Executives, managers and professionals make up 91.1% of the workforce in the Madison Ave / E 81st St neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 99.9% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
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 64,581 people per square mile, it is more densely populated than 99.0% 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 Madison Ave / E 81st St neighborhood is one of the most walkable neighborhoods in America.
In addition, the real estate in the Madison Ave / E 81st St 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, 88.6% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.0% of American neighborhoods.
Furthermore, vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 37.5% of the residential real estate vacant, the Madison Ave / E 81st St neighborhood claims the distinction of having a higher vacancy rate than 97.3% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.
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 57.5% of the residential real estate in the Madison Ave / E 81st St neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 96.0% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
In the Madison Ave / E 81st St neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 34.3% of residents here. This is a higher proportion of walking commuters than we found in 99.4% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, if your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 4.4% of residents in the Madison Ave / E 81st St neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 97.8% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.
Finally, in the Madison Ave / E 81st St neighborhood, 14.9% 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 96.6% of the neighborhoods in America.
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 Madison Ave / E 81st St neighborhood has a highly unusual pattern of car ownership. 41.9% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.2% of U.S. neighborhoods.
Did you know that the Madison Ave / E 81st St neighborhood has more Eastern European and Brazilian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.4% of this neighborhood's residents have Eastern European ancestry and 3.5% have Brazilian ancestry.
Madison Ave / E 81st St is also pretty special linguistically. Significantly, 4.6% 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 97.3% 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 Madison Ave / E 81st St 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 99.4% 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 Madison Ave / E 81st St neighborhood, 91.1% 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 6.8% of the residents employed.
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 Madison Ave / E 81st St neighborhood is English, spoken by 74.0% of households. Other important languages spoken here include Spanish, French 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 Madison Ave / E 81st St neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as English (13.3%). There are also a number of people of Asian ancestry (8.8%), and residents who report Irish roots (7.1%), and some of the residents are also of Russian ancestry (6.7%), along with some Italian ancestry residents (6.1%), among others. In addition, 25.9% 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 Madison Ave / E 81st St neighborhood spend between 15 and 30 minutes commuting one-way to work (36.9% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (34.3%) 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 (14.9%) and 8.8% of residents also carpool with coworkers, friends, or neighbors 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.
