50th St / 8th Ave median real estate price is $1,565,719, which is more expensive than 88.6% of the neighborhoods in New York and 96.6% of the neighborhoods in the U.S.
The average rental price in 50th St / 8th Ave is currently $2,928, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 50.4% of New York neighborhoods.
50th St / 8th Ave is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
50th St / 8th 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 50th St / 8th 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.
50th St / 8th Ave has a 13.6% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 75.4% 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.
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.
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 97,439 people per square mile, it is more densely populated than 99.6% 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 50th St / 8th Ave 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 50th St / 8th Ave 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 40.3% of the real estate here is made up of such dwellings, which is higher than 97.2% of all U.S. neighborhoods.
Furthermore, 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 71.4% of the residential real estate in the 50th St / 8th Ave neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 98.8% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
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 50th St / 8th Ave neighborhood have a highly unusual car ownership. 48.2% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.6% of U.S. neighborhoods.
In the 50th St / 8th Ave 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 21.0% of residents here. This is a higher proportion of walking commuters than we found in 98.3% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, in the 50th St / 8th Ave neighborhood, 24.7% 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 97.9% of the neighborhoods in America.
There are more people living in the 50th St / 8th Ave neighborhood employed as sales and service workers (59.1%) than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.
The 50th St / 8th Ave neighborhood has a greater percentage of children living in poverty (61.4%) than found in 97.3% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.
Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the 50th St / 8th Ave neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 9.6% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 95.2% of all neighborhoods in America.
Did you know that the 50th St / 8th Ave neighborhood has more Asian and Native American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 78.4% of this neighborhood's residents have Asian ancestry and 2.7% have Native American ancestry.
50th St / 8th Ave is also pretty special linguistically. Significantly, 74.6% of its residents five years old and above primarily speak Chinese at home. This is a higher percentage than 100.0% of all U.S. neighborhoods.
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. What is interesting to note, is that the 50th St / 8th Ave neighborhood has a greater percentage of residents born in another country (65.5%) than are found in 99.5% of all U.S. neighborhoods.
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 50th St / 8th Ave neighborhood in Brooklyn are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 63.1% of U.S. neighborhoods. With 61.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 97.3% 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 50th St / 8th Ave neighborhood, 40.9% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 28.7% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (15.4%), and 15.0% in executive, management, and professional 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 50th St / 8th Ave neighborhood is Chinese, spoken by 74.6% of households. Other important languages spoken here include English, Spanish, Langs. of India and Urdu (the national language of Pakistan).
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 50th St / 8th Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Asian (78.4%). There are also a number of people of Mexican ancestry (4.6%), and residents who report Polish roots (2.8%), and some of the residents are also of Native American ancestry (2.7%), along with some Dominican ancestry residents (2.1%), among others. In addition, 65.5% 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 50th St / 8th Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (34.0% of working residents), longer and tougher than most commutes in America.
Here most residents (26.8%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (24.7%) and 21.0% of residents also hop out the door and walk to work for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
