Chinatown East median real estate price is $1,034,022, which is more expensive than 64.8% of the neighborhoods in New York and 85.4% of the neighborhoods in the U.S.
The average rental price in Chinatown East is currently $3,238, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 45.2% of New York neighborhoods.
Chinatown East is a densely urban neighborhood (based on population density) located in New York, New York.
Chinatown East 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 Chinatown East neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built before 1940.
Chinatown East has a 10.4% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 63.5% 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.
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
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 Chinatown East neighborhood have a highly unusual car ownership. 74.5% 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
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 96,141 people per square mile, it is more densely populated than 99.6% 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 Chinatown East neighborhood is one of the most walkable neighborhoods in America.
In addition, the real estate in the Chinatown East 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, 93.5% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.7% of American neighborhoods.
Furthermore, the Chinatown East 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 83.5% 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 Chinatown East 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 30.2% of residents here. This is a higher proportion of walking commuters than we found in 99.1% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 36.1% of the Chinatown East neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.6% of America's neighborhoods.
Finally, if your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 4.0% of residents in the Chinatown East neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 97.3% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.
Diversity
Did you know that the Chinatown East neighborhood has more Asian and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 70.4% of this neighborhood's residents have Asian ancestry and 4.2% have Russian ancestry.
Chinatown East is also pretty special linguistically. Significantly, 61.2% of its residents five years old and above primarily speak Chinese at home. This is a higher percentage than 100.0% of all U.S. neighborhoods.
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. What is interesting to note, is that the Chinatown East neighborhood has a greater percentage of residents born in another country (55.4%) than are found in 98.6% of all U.S. neighborhoods.
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 Chinatown East neighborhood in New York are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 83.5% of U.S. neighborhoods. In addition, 1.9% 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 75.6% 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 Chinatown East neighborhood, 57.4% 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 23.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (11.9%), and 7.7% in manufacturing and laborer occupations.
Languages
The most common language spoken in the Chinatown East neighborhood is Chinese, spoken by 61.2% of households. Some people also speak English (32.3%).
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 Chinatown East neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Asian (70.4%). There are also a number of people of Russian ancestry (4.2%), and residents who report German roots (2.8%), and some of the residents are also of English ancestry (2.8%), along with some Italian ancestry residents (2.4%), among others. In addition, 55.4% 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 Chinatown East neighborhood spend between 15 and 30 minutes commuting one-way to work (40.3% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (36.1%) 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 (30.2%) and 6.0% 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.
