Prospect Heights median real estate price is $2,082,725, which is more expensive than 87.5% of the neighborhoods in New York and 95.8% of the neighborhoods in the U.S.
The average rental price in Prospect Heights is currently $5,304, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 91.6% of the neighborhoods in New York.
Prospect Heights is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
Prospect Heights 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 Prospect Heights 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 2000 and the present.
In Prospect Heights, the current vacancy rate is 1.5%, which is a lower rate of vacancies than 89.4% of all neighborhoods in the U.S. This means that the housing supply in Prospect Heights 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
In a nation where 1 out of every 4 children lives in poverty, the Prospect Heights neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, if you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Prospect Heights neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 99.2% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Prospect Heights neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for 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 84.8% of the adults living in the Prospect Heights neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 99.0% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
Modes of Transportation
In the Prospect Heights neighborhood, 52.0% 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 99.5% of the neighborhoods in America.
Also, a unique way of commuting is simply not to. And in the Prospect Heights neighborhood, analysis shows that 30.4% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 97.1% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
Finally, 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 Prospect Heights neighborhood is a fantastic option for bicycle commuters, as 3.5% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 96.7% of the neighborhoods in America.
Real Estate
The Prospect Heights neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 55,218 persons per square mile in the neighborhood, it is more packed with people than 98.7% 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 Prospect Heights neighborhood is one of the most walkable neighborhoods in America.
In addition, three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The Prospect Heights neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 35.2% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 96.1% of America's neighborhoods.
Furthermore, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Prospect Heights neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 62.8% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 97.2% of the neighborhoods in the United States.
Car Ownership
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Prospect Heights neighborhood have a highly unusual car ownership. 64.3% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.4% of U.S. neighborhoods.
Occupations
The Prospect Heights neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.1% of the neighborhoods in America. In fact, 80.4% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Diversity
Did you know that the Prospect Heights neighborhood has more Eastern European and Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.0% of this neighborhood's residents have Eastern European ancestry and 1.4% have Armenian ancestry.
Prospect Heights is also pretty special linguistically. Significantly, 0.7% of its residents five years old and above primarily speak Japanese at home. While this may seem like a small percentage, it is higher than 95.7% of the neighborhoods in America.
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 Prospect Heights 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 93.7% 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 Prospect Heights neighborhood, 80.4% 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 10.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (7.2%).
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 Prospect Heights neighborhood is English, spoken by 83.9% of households. Other important languages spoken here include Chinese, French, Polish and Spanish.
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 Prospect Heights neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Asian (13.9%). There are also a number of people of Irish ancestry (12.0%), and residents who report German roots (10.9%), and some of the residents are also of Italian ancestry (10.7%), along with some English ancestry residents (8.0%), among others. In addition, 15.2% 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 Prospect Heights neighborhood spend between 30 and 45 minutes commuting one-way to work (51.5% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (52.0%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (7.2%) . 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.
