E 2nd St / Bowery median real estate price is $1,521,283, which is more expensive than 83.7% of the neighborhoods in New York and 94.0% of the neighborhoods in the U.S.
The average rental price in E 2nd St / Bowery is currently $5,098, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 89.7% of the neighborhoods in New York.
E 2nd St / Bowery is a densely urban neighborhood (based on population density) located in New York, New York.
E 2nd St / Bowery 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 E 2nd St / Bowery 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.
E 2nd St / Bowery has a 13.0% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 72.6% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in New York, the E 2nd St / Bowery neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
Of note is NeighborhoodScout's research finding that the E 2nd St / Bowery neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the E 2nd St / Bowery community truly stands out from the rest in this regard.
In addition, neighborhoodScout's analysis shows that the E 2nd St / Bowery neighborhood has a greater concentration of residents currently enrolled in college than 95.1% of the neighborhoods in the U.S. With 10.9% of the population here attending college, this is very much a college-focused neighborhood.
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 E 2nd St / Bowery neighborhood have a highly unusual car ownership. 84.2% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.9% of U.S. neighborhoods.
Real Estate
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 87,292 people per square mile, it is more densely populated than 99.5% 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 E 2nd St / Bowery neighborhood is one of the most walkable neighborhoods in America.
In addition, one of the really unique and interesting things about the look and setting of the E 2nd St / Bowery neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 84.9% 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 97.4% of all neighborhoods in America.
Furthermore, 88.4% of the real estate in the E 2nd St / Bowery neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Also of note, the E 2nd St / Bowery 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 83.7% 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.
Modes of Transportation
In the E 2nd St / Bowery neighborhood, 43.0% 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 99.0% of the neighborhoods in America.
Also, 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 E 2nd St / Bowery neighborhood is a fantastic option for bicycle commuters, as 4.9% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 98.1% of the neighborhoods in America.
Finally, in the E 2nd St / Bowery 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 19.1% of residents here. This is a higher proportion of walking commuters than we found in 98.0% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Diversity
Did you know that the E 2nd St / Bowery neighborhood has more Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 9.5% of this neighborhood's residents have Russian ancestry.
E 2nd St / Bowery is also pretty special linguistically. Significantly, 0.6% of its residents five years old and above primarily speak Native American languages at home. While this may seem like a small percentage, it is higher than 95.4% of the neighborhoods in America.
Migration / Stability
The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the E 2nd St / Bowery neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 96.3% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.
The neighbors in the E 2nd St / Bowery neighborhood in New York 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 92.8% 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.
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 E 2nd St / Bowery neighborhood, 55.3% 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 20.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (17.2%), and 6.8% 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 E 2nd St / Bowery neighborhood is English, spoken by 75.6% of households. Other important languages spoken here include Spanish and Chinese.
Ethnicity / Ancestry
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the E 2nd St / Bowery neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Asian (13.1%). There are also a number of people of English ancestry (11.0%), and residents who report Russian roots (9.5%), and some of the residents are also of Italian ancestry (7.9%), along with some German ancestry residents (7.1%), among others. In addition, 19.5% of the residents of this neighborhood were born in another country.
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 E 2nd St / Bowery neighborhood spend between 15 and 30 minutes commuting one-way to work (42.2% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (43.0%) 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 (19.1%) and 5.4% 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.
