Broadway / S 8th St median real estate price is $1,703,538, which is more expensive than 91.6% of the neighborhoods in New York and 97.6% of the neighborhoods in the U.S.
The average rental price in Broadway / S 8th St is currently $2,632, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 59.0% of New York neighborhoods.
Broadway / S 8th St is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
Broadway / S 8th St 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 Broadway / S 8th St neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.
Real estate vacancies in Broadway / S 8th St are 4.0%, which is lower than one will find in 73.7% of American neighborhoods. Demand for real estate in Broadway / S 8th St 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.
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.
Real Estate
The real estate in the Broadway / S 8th St neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 98.1% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.6% of American neighborhoods.
In addition, 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 77,610 people per square mile, it is more densely populated than 99.3% 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 Broadway / S 8th St neighborhood is one of the most walkable neighborhoods in America.
Furthermore, 100.0% of the real estate in the Broadway / S 8th St neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Car Ownership
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 Broadway / S 8th St neighborhood has a highly unusual pattern of car ownership. 56.7% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.1% of U.S. neighborhoods.
Modes of Transportation
If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 44.1% of the Broadway / S 8th St neighborhood's commuters ride the train to and from work each day, which is more than we found in 99.1% of America's neighborhoods.
Also, in the Broadway / S 8th St 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 14.9% of residents here. This is a higher proportion of walking commuters than we found in 97.1% of American neighborhoods. Get ready to put on your walking shoes if you move here!
People
The Broadway / S 8th St neighborhood stands out for having an average per capita income lower than 96.6% of the neighborhoods in the United States.
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 Broadway / S 8th St 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 Broadway / S 8th St neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 10.0% 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 95.4% of all neighborhoods in America.
Diversity
Did you know that the Broadway / S 8th St neighborhood has more Hungarian and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 10.1% of this neighborhood's residents have Hungarian ancestry and 4.8% have Eastern European ancestry.
Broadway / S 8th St is also pretty special linguistically. Significantly, 44.5% of its residents five years old and above primarily speak German/Yiddish at home. This is a higher percentage than 99.9% 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 Broadway / S 8th St 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 96.6% of U.S. neighborhoods. With 40.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 89.3% 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 Broadway / S 8th St neighborhood, 46.2% 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 29.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (13.8%), and 10.5% 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 Broadway / S 8th St neighborhood is German/Yiddish, spoken by 44.5% of households. Other important languages spoken here include English, Spanish 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 Broadway / S 8th St neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Puerto Rican (20.3%). There are also a number of people of Hungarian ancestry (10.1%), and residents who report Eastern European roots (4.8%), and some of the residents are also of Asian ancestry (4.5%), along with some Irish ancestry residents (3.5%), among others. In addition, 17.1% 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 Broadway / S 8th St neighborhood spend between 30 and 45 minutes commuting one-way to work (31.9% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods. However, there is also a significant group of residents (10.0%) who commute over an hour in each direction.
Here most residents (44.1%) take the train to get to work. In addition, quite a number also hop out the door and walk to work to get to work (14.9%) and 12.9% of residents also carpool with coworkers, friends, or neighbors 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.
