Borough Park median real estate price is $2,314,888, which is more expensive than 94.1% of the neighborhoods in New York and 98.2% of the neighborhoods in the U.S.
The average rental price in Borough Park is currently $3,122, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 48.3% of New York neighborhoods.
Borough Park is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
Borough Park 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 Borough Park 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.
Borough Park has a 15.7% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 79.4% 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.
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 Borough Park neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Modes of Transportation
More people in Borough Park choose to walk to work each day (44.9%) 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, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 12.5% of the Borough Park neighborhood's commuters ride the train to and from work each day, which is more than we found in 95.8% of America's neighborhoods.
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 90,353 people per square mile, it is more densely populated than 99.5% of America's neighborhoods. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The Borough Park neighborhood is among the top 5% of American neighborhoods in terms of walkability.
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 Borough Park 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 34.8% of the real estate here is made up of such dwellings, which is higher than 96.0% of all U.S. neighborhoods.
Furthermore, 86.4% of the real estate in the Borough Park neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the Borough Park neighborhood buck this trend. 48.9% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.7% of U.S. neighborhoods.
People
Astoundingly, NeighborhoodScout's research reveals that this single neighborhood has a higher concentration of married couples living here than 98.2% of all U.S. neighborhoods. Whether they have school-aged children or not, married couples are the rule in the Borough Park neighborhood. If you are a married couple, you may find many people here with a similar lifestyle, and perhaps common interests. But if you are single, you might not find many other singles here.
In addition, one of the really interesting characteristics about the Borough Park neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 2.1% of college-friendly places to live in the state of New York.
Also, one of the unique characteristics of the Borough Park neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 96.1% of the neighborhoods in America.
Diversity
Did you know that the Borough Park neighborhood has more Hungarian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.9% of this neighborhood's residents have Hungarian ancestry.
Borough Park is also pretty special linguistically. Significantly, 70.1% of its residents five years old and above primarily speak German/Yiddish at home. This is a higher percentage than 100.0% of all U.S. neighborhoods.
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 Borough Park neighborhood in Brooklyn are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 96.1% of U.S. neighborhoods. With 51.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 94.5% 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 Borough Park neighborhood, 46.3% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 30.3% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (19.9%), and 3.5% 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 Borough Park neighborhood is German/Yiddish, spoken by 70.1% of households. Other important languages spoken here include English, Spanish and Polish.
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 Borough Park neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Polish (9.4%). There are also a number of people of Hungarian ancestry (5.9%), and residents who report Russian roots (2.0%). In addition, 15.3% 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 Borough Park neighborhood spend between 15 and 30 minutes commuting one-way to work (35.3% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (44.9%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (18.3%) and 12.5% of residents also take the train 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.
