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Real Estate Prices & Overview

Central Ave / Melrose St median real estate price is $1,319,426, which is more expensive than 85.1% of the neighborhoods in New York and 95.3% of the neighborhoods in the U.S.

The average rental price in Central Ave / Melrose St is currently $4,319, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 80.5% of the neighborhoods in New York.

Central Ave / Melrose St is a densely urban neighborhood (based on population density) located in Brooklyn, New York.

Central Ave / Melrose 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 Central Ave / Melrose St neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.

Real estate vacancies in Central Ave / Melrose St are 4.1%, which is lower than one will find in 73.1% of American neighborhoods. Demand for real estate in Central Ave / Melrose 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.

Notable & Unique Neighborhood Characteristics

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.

Car Ownership

American households most often have a car, and regularly they have two or three. But households in the Central Ave / Melrose St neighborhood buck this trend. 74.4% 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.

Modes of Transportation

Would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the Central Ave / Melrose St neighborhood is a fantastic option for bicycle commuters, as 11.5% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 99.7% of the neighborhoods in America.

Also, in the Central Ave / Melrose St neighborhood, 50.1% 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 99.4% of the neighborhoods in America.

Real Estate

The Central Ave / Melrose St neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 46,693 persons per square mile in the neighborhood, it is more packed with people than 98.3% of the nation'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 Central Ave / Melrose St neighborhood is one of the most walkable neighborhoods in America.

In addition, renter-occupied real estate is dominant in the Central Ave / Melrose St neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 86.4%, which is higher than 95.8% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.

Furthermore, one of the really unique and interesting things about the look and setting of the Central Ave / Melrose St neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 70.6% 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 95.2% of all neighborhoods in America.

Diversity

Did you know that the Central Ave / Melrose St neighborhood has more Puerto Rican and Dominican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 16.9% of this neighborhood's residents have Puerto Rican ancestry and 6.4% have Dominican ancestry.

Central Ave / Melrose St is also pretty special linguistically. Significantly, 58.8% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 95.5% of all U.S. neighborhoods.

The Neighbors

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 Central Ave / Melrose St 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 67.8% of the neighborhoods in America. With 44.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 91.5% of U.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 Central Ave / Melrose St neighborhood, 43.6% 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 25.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (19.3%), and 11.9% 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 Central Ave / Melrose St neighborhood is Spanish, spoken by 58.8% of households. Other important languages spoken here include English and Polish.

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Central Ave / Melrose St neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Mexican (32.7%). There are also a number of people of Puerto Rican ancestry (16.9%), and residents who report South American roots (8.9%), and some of the residents are also of Dominican ancestry (6.4%), along with some Italian ancestry residents (5.9%), among others. In addition, 21.5% of the residents of this neighborhood were born in another country.

Getting to Work

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 Central Ave / Melrose St neighborhood spend between 30 and 45 minutes commuting one-way to work (40.4% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (50.1%) take the train to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (18.5%) and 11.5% of residents also bicycle 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.


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