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Real Estate Prices & Overview

Park Ave / Marcy Ave median real estate price is $1,340,458, which is more expensive than 85.8% of the neighborhoods in New York and 95.5% of the neighborhoods in the U.S.

The average rental price in Park Ave / Marcy Ave is currently $1,480, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 85.8% of New York neighborhoods.

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

Park Ave / Marcy Ave 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 townhomes. Most of the residential real estate is renter occupied. Many of the residences in the Park Ave / Marcy Ave neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

In Park Ave / Marcy Ave, the current vacancy rate is 0.4%, which is a lower rate of vacancies than 93.2% of all neighborhoods in the U.S. This means that the housing supply in Park Ave / Marcy Ave is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

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.

Car Ownership

American households most often have a car, and regularly they have two or three. But households in the Park Ave / Marcy Ave neighborhood buck this trend. 74.6% 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.

Real Estate

Most neighborhoods have a mixture of ages of homes in them, from new to old, but this neighborhood stands out due to its concentration of residential real estate built in one time frame: from 1940 through 1969, generally considered older, well-established homes. This was a busy time in America for home construction. After the end of World War II, as GIs came home, bought newly built homes on the edges of cities with the help of the GI Bill, and began their families. This housing era generally coincides with the 'Baby Boom' generation (1945 - 1964), and many baby boomers grew up in homes built in this era. But what is so interesting about the Park Ave / Marcy Ave neighborhood, is that an incredible 88.8% of the homes here were built in this era. So when you walk its streets or drive through, this neighborhood has a look and feel that harkens to that era in American life, a very important slice of Americana.

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 89,657 people per square mile, it is more densely populated than 99.5% of America's neighborhoods.

Furthermore, the real estate in the Park Ave / Marcy Ave 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, 96.8% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.4% of American neighborhoods.

Also of note, 95.0% of the real estate in the Park Ave / Marcy Ave neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

Modes of Transportation

If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 51.8% of the Park Ave / Marcy Ave neighborhood's commuters ride the train to and from work each day, which is more than we found in 99.5% of America's neighborhoods.

Also, more people ride the bus in this neighborhood each day to get to work than 98.6% of U.S. neighborhoods.

People

One of the unique characteristics of the Park Ave / Marcy Ave neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 99.0% of the neighborhoods in America.

Diversity

Did you know that the Park Ave / Marcy Ave neighborhood has more Dominican and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 33.1% of this neighborhood's residents have Dominican ancestry and 14.8% have Puerto Rican ancestry.

Park Ave / Marcy Ave is also pretty special linguistically. Significantly, 58.9% 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 Park Ave / Marcy Ave 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 99.0% of U.S. neighborhoods. With 41.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 90.0% 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 Park Ave / Marcy Ave neighborhood, 33.6% of the working population is employed in clerical, assistant, and tech support 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 30.7% of the residents employed. Other residents here are employed in executive, management, and professional occupations (23.4%), and 12.3% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Park Ave / Marcy Ave neighborhood is Spanish, spoken by 58.9% of households. Some people also speak English (38.5%).

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 Park Ave / Marcy Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Dominican (33.1%). There are also a number of people of Puerto Rican ancestry (14.8%), and residents who report South American roots (2.1%), and some of the residents are also of Jamaican ancestry (1.7%), along with some Haitian ancestry residents (1.6%), among others. In addition, 23.0% of the residents of this neighborhood were born in another country.

Getting to Work

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 Park Ave / Marcy Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (37.5% of working residents), longer and tougher than most commutes in America.

Here most residents (51.8%) take the train to get to work. In addition, quite a number also ride the bus to get to work (20.0%) and 13.7% of residents also drive alone in a private automobile 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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