E 78th St / 1st Ave median real estate price is $1,395,724, which is more expensive than 81.6% of the neighborhoods in New York and 93.7% of the neighborhoods in the U.S.
The average rental price in E 78th St / 1st Ave is currently $3,831, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 73.6% of the neighborhoods in New York.
E 78th St / 1st Ave is a densely urban neighborhood (based on population density) located in New York, New York.
E 78th St / 1st 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 townhomes. Most of the residential real estate is renter occupied. Many of the residences in the E 78th St / 1st Ave neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
E 78th St / 1st Ave has a 10.5% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 65.2% of American neighborhoods). A relatively large percentage of housing here is seasonally occupied (9.8%), which can occur in some markets dominated by colleges or vacation homes. If you live here year round, you will find many of the homes or apartments are empty for all or a portion of the year.
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.
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 180,127 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 78th St / 1st Ave 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 E 78th St / 1st Ave neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 97.5% 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 99.5% of all neighborhoods in America.
Furthermore, the E 78th St / 1st Ave 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 81.9% 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.
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 E 78th St / 1st Ave neighborhood has a highly unusual pattern of car ownership. 72.8% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.7% of U.S. neighborhoods.
More people in E 78th St / 1st Ave choose to walk to work each day (36.2%) 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 78th St / 1st Ave neighborhood, 22.5% 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 97.7% of the neighborhoods in America.
Finally, more people ride the bus in this neighborhood each day to get to work than 95.9% of U.S. neighborhoods.
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 87.0% of the adults living in the E 78th St / 1st Ave neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 99.3% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
In addition, one of the most interesting things about the E 78th St / 1st Ave neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 50.7% 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 95.8% of the neighborhoods in America.
Also, 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 E 78th St / 1st Ave neighborhood: a neighborhood in which more "urban sophisticates" live than 95.3% 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 young, single professionals.
The E 78th St / 1st Ave neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.3% of the neighborhoods in America. In fact, 82.1% 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.
Did you know that the E 78th St / 1st Ave neighborhood has more Eastern European and Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.4% of this neighborhood's residents have Eastern European ancestry and 9.8% have Arab ancestry.
E 78th St / 1st Ave is also pretty special linguistically. Significantly, 8.3% of its residents five years old and above primarily speak Arabic at home. While this may seem like a small percentage, it is higher than 99.4% of the neighborhoods in America.
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 78th St / 1st 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 83.2% of the neighborhoods in America. With 22.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 72.5% 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 E 78th St / 1st Ave neighborhood, 82.1% 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 10.2% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (6.4%), and 4.4% 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 E 78th St / 1st Ave neighborhood is English, spoken by 62.9% of households. Other important languages spoken here include Arabic, Spanish, French and Portuguese.
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 78th St / 1st Ave neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Asian (10.4%). There are also a number of people of Arab ancestry (9.8%), and residents who report Eastern European roots (7.4%), and some of the residents are also of German ancestry (5.2%), along with some Italian ancestry residents (4.0%), among others. In addition, 28.2% 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 E 78th St / 1st Ave neighborhood spend between 30 and 45 minutes commuting one-way to work (41.8% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (36.2%) 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 (22.5%) and 11.3% 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.
