5th Ave / Degraw St median real estate price is $2,624,134, which is more expensive than 88.8% of the neighborhoods in New York and 96.3% of the neighborhoods in the U.S.
The average rental price in 5th Ave / Degraw St is currently $5,461, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 92.1% of the neighborhoods in New York.
5th Ave / Degraw St is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
5th Ave / Degraw St real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the 5th Ave / Degraw 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.
Home and apartment vacancy rates are 7.4% in 5th Ave / Degraw St. NeighborhoodScout analysis shows that this rate is lower than 51.2% of the neighborhoods in the nation, approximately near the middle range for vacancies.
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.
People
In a nation where 1 out of every 4 children lives in poverty, the 5th Ave / Degraw St neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, 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 5th Ave / Degraw St neighborhood: a neighborhood in which more "urban sophisticates" live than 98.5% 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 highly educated executives.
Modes of Transportation
In the 5th Ave / Degraw St neighborhood, 60.5% 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 99.9% of the neighborhoods in America.
Also, a unique way of commuting is simply not to. And in the 5th Ave / Degraw St neighborhood, analysis shows that 31.2% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 97.5% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
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 65,894 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 5th Ave / Degraw St 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 5th Ave / Degraw St 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 55.1% of the real estate here is made up of such dwellings, which is higher than 98.9% 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 73.6% of the residential real estate in the 5th Ave / Degraw St neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 99.1% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
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 5th Ave / Degraw St neighborhood have a highly unusual car ownership. 61.0% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.3% of U.S. neighborhoods.
Occupations
Executives, managers and professionals make up 73.5% of the workforce in the 5th Ave / Degraw St neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 97.1% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Diversity
Did you know that the 5th Ave / Degraw St neighborhood has more Eastern European and Austrian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.0% of this neighborhood's residents have Eastern European ancestry and 2.1% have Austrian ancestry.
5th Ave / Degraw St is also pretty special linguistically. Significantly, 3.6% 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 96.2% 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 5th Ave / Degraw St neighborhood in Brooklyn 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 90.5% 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 5th Ave / Degraw St neighborhood, 73.5% 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 12.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (6.9%), and 6.3% in manufacturing and laborer 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 5th Ave / Degraw St neighborhood is English, spoken by 78.1% of households. Other important languages spoken here include Spanish, French 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 5th Ave / Degraw St neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Irish (13.3%). There are also a number of people of German ancestry (11.6%), and residents who report English roots (9.2%), and some of the residents are also of Asian ancestry (7.3%), along with some French ancestry residents (5.5%), among others. In addition, 20.1% 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 5th Ave / Degraw St neighborhood spend between 30 and 45 minutes commuting one-way to work (54.9% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (60.5%) take the train to get to work. 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.
