72nd St / Colonial Rd median real estate price is $880,912, which is more expensive than 60.0% of the neighborhoods in New York and 78.9% of the neighborhoods in the U.S.
The average rental price in 72nd St / Colonial Rd is currently $3,560, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 64.4% of the neighborhoods in New York.
72nd St / Colonial Rd is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
72nd St / Colonial Rd 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 72nd St / Colonial Rd 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.
Real estate vacancies in 72nd St / Colonial Rd are 5.0%, which is lower than one will find in 66.3% of American neighborhoods. Demand for real estate in 72nd St / Colonial Rd is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Brooklyn, the 72nd St / Colonial Rd neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
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 81,840 people per square mile, it is more densely populated than 99.4% 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 72nd St / Colonial Rd 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 72nd St / Colonial Rd neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 83.1% 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 97.2% of all neighborhoods in America.
Furthermore, the 72nd St / Colonial Rd 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 85.4% 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.
Also of note, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The 72nd St / Colonial Rd neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 60.8% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 96.7% of the neighborhoods in the United States.
Modes of Transportation
In the 72nd St / Colonial Rd neighborhood, 40.1% 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 98.8% of the neighborhoods in America.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the 72nd St / Colonial Rd neighborhood buck this trend. 29.2% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.1% of U.S. neighborhoods.
Length of Commute
Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The 72nd St / Colonial Rd neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the 72nd St / Colonial Rd neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 9.8% 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 95.3% of all neighborhoods in America.
Diversity
Did you know that the 72nd St / Colonial Rd neighborhood has more Ukrainian and Lebanese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.9% of this neighborhood's residents have Ukrainian ancestry and 1.9% have Lebanese ancestry.
72nd St / Colonial Rd is also pretty special linguistically. Significantly, 7.3% 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 99.2% 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 72nd St / Colonial Rd neighborhood in Brooklyn are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 64.5% of the neighborhoods in America. With 19.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 68.6% 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 72nd St / Colonial Rd neighborhood, 58.6% 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 23.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (11.1%), and 7.3% 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 72nd St / Colonial Rd neighborhood is English, spoken by 49.8% of households. Other important languages spoken here include Chinese, Spanish, Arabic and Polish.
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 72nd St / Colonial Rd neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Asian (14.7%). There are also a number of people of Italian ancestry (11.3%), and residents who report Irish roots (11.1%), and some of the residents are also of Puerto Rican ancestry (7.2%), along with some Arab ancestry residents (5.5%), among others. In addition, 31.6% 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 72nd St / Colonial Rd neighborhood spend between 45 minutes and one hour commuting one-way to work (40.7% of working residents), longer and tougher than most commutes in America.
Here most residents (40.1%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (24.0%) and 8.5% of residents also ride the bus 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.
