Lorimer St / Richardson St median real estate price is $2,546,063, which is more expensive than 96.9% of the neighborhoods in New York and 99.2% of the neighborhoods in the U.S.
The average rental price in Lorimer St / Richardson St is currently $6,883, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 99.0% of the neighborhoods in New York.
Lorimer St / Richardson St is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
Lorimer St / Richardson 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 Lorimer St / Richardson St neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.
In Lorimer St / Richardson St, the current vacancy rate is 2.4%, which is a lower rate of vacancies than 84.2% of all neighborhoods in the U.S. This means that the housing supply in Lorimer St / Richardson St is very tight compared to the demand for property here.
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
Wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Lorimer St / Richardson St neighborhood is wealthier than 97.5% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood. As one would expect in a considerably wealthy neighborhood such as this, Lorimer St / Richardson St also has one of the lowest ratings of child poverty in the nation.
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 Lorimer St / Richardson St neighborhood: a neighborhood in which more "urban sophisticates" live than 98.6% 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 young, single professionals and highly educated executives.
Also, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 78.3% of the adults living in the Lorimer St / Richardson St neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 97.3% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
Modes of Transportation
If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 53.6% of the Lorimer St / Richardson St neighborhood's commuters ride the train to and from work each day, which is more than we found in 99.6% of America's neighborhoods.
Also, if your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 3.6% of residents in the Lorimer St / Richardson St neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 96.7% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the Lorimer St / Richardson St neighborhood buck this trend. 54.1% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.9% of U.S. neighborhoods.
Real Estate
The Lorimer St / Richardson St neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 33,961 persons per square mile in the neighborhood, it is more packed with people than 97.4% 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 Lorimer St / Richardson St neighborhood is one of the most walkable neighborhoods in America.
In addition, the real estate in the Lorimer St / Richardson 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, 84.3% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 97.3% of American neighborhoods.
Furthermore, the Lorimer St / Richardson St 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 84.1% 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.
Diversity
Did you know that the Lorimer St / Richardson St neighborhood has more Russian and Brazilian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.5% of this neighborhood's residents have Russian ancestry and 2.4% have Brazilian ancestry.
Lorimer St / Richardson St is also pretty special linguistically. Significantly, 1.9% of its residents five years old and above primarily speak Portuguese at home. While this may seem like a small percentage, it is higher than 97.5% of the neighborhoods in America.
Migration / Stability
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. In the Lorimer St / Richardson St neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 95.8% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 Lorimer St / Richardson 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 97.5% 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 Lorimer St / Richardson St neighborhood, 66.0% 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 17.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (11.9%), and 4.7% 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 Lorimer St / Richardson St neighborhood is English, spoken by 74.3% of households. Other important languages spoken here include Chinese, Spanish, Polish and Italian.
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 Lorimer St / Richardson St neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Asian (15.7%). There are also a number of people of Italian ancestry (12.5%), and residents who report Irish roots (7.7%), and some of the residents are also of Polish ancestry (7.7%), along with some Russian ancestry residents (6.5%), among others. In addition, 23.7% 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 Lorimer St / Richardson St neighborhood spend between 30 and 45 minutes commuting one-way to work (44.4% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (53.6%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (14.0%) and 7.6% of residents also hop out the door and walk to work 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.
