E 61st St / Lexington Ave median real estate price is $2,035,648, which is more expensive than 93.8% of the neighborhoods in New York and 98.2% of the neighborhoods in the U.S.
The average rental price in E 61st St / Lexington Ave is currently $6,200, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 96.2% of the neighborhoods in New York.
E 61st St / Lexington Ave is a densely urban neighborhood (based on population density) located in New York, New York.
E 61st St / Lexington 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 small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the E 61st St / Lexington Ave 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 1940 and 1969.
Vacant apartments or homes are a major fact of life in E 61st St / Lexington Ave. The current real estate vacancy rate here is 43.2%. This is higher than the rate of vacancies in 98.0% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (29.1%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.
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
If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 3.0% of America's neighborhoods are wealthier than the E 61st St / Lexington Ave neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. As one would expect in a considerably wealthy neighborhood such as this, E 61st St / Lexington Ave also has one of the lowest ratings of child poverty in the nation.
In addition, the rate of college educated adults in the E 61st St / Lexington Ave neighborhood is a unique characteristic of the neighborhood. 94.1% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 34.3% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 99.9% of all U.S. neighborhoods.
Also, 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 E 61st St / Lexington Ave neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 99.6% 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 E 61st St / Lexington Ave neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives.
Occupations
Executives, managers and professionals make up 88.7% of the workforce in the E 61st St / Lexington Ave neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 99.9% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the E 61st St / Lexington Ave neighborhood buck this trend. 75.3% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.8% 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 68,682 people per square mile, it is more densely populated than 99.1% 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 61st St / Lexington Ave neighborhood is one of the most walkable neighborhoods in America.
In addition, the real estate in the E 61st St / Lexington 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, 94.0% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.8% of American neighborhoods.
Furthermore, vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 43.2% of the residential real estate vacant, the E 61st St / Lexington Ave neighborhood claims the distinction of having a higher vacancy rate than 98.0% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.
Modes of Transportation
More people in E 61st St / Lexington Ave choose to walk to work each day (27.5%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Also, in the E 61st St / Lexington Ave neighborhood, 38.9% 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 98.7% of the neighborhoods in America.
Diversity
Did you know that the E 61st St / Lexington Ave neighborhood has more Eastern European and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.3% of this neighborhood's residents have Eastern European ancestry and 5.4% have Russian ancestry.
E 61st St / Lexington Ave is also pretty special linguistically. Significantly, 1.3% 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 98.2% of the neighborhoods in America.
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 61st St / Lexington Ave 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 97.0% 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.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the E 61st St / Lexington Ave neighborhood, 88.7% 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 8.7% of the residents employed.
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 61st St / Lexington Ave neighborhood is English, spoken by 77.0% of households. Other important languages spoken here include Spanish, French, Langs. of India and Chinese.
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 E 61st St / Lexington Ave neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Asian (12.8%). There are also a number of people of Irish ancestry (11.6%), and residents who report German roots (9.4%), and some of the residents are also of Italian ancestry (8.0%), along with some English ancestry residents (6.8%), among others. In addition, 16.9% 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 61st St / Lexington Ave neighborhood spend between 15 and 30 minutes commuting one-way to work (54.1% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (38.9%) 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 (27.5%) and 7.9% 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.
