Gramercy South median real estate price is $1,056,348, which is more expensive than 76.3% of the neighborhoods in New York and 91.6% of the neighborhoods in the U.S.
The average rental price in Gramercy South is currently $5,564, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 93.3% of the neighborhoods in New York.
Gramercy South is a densely urban neighborhood (based on population density) located in New York, New York.
Gramercy South 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 Gramercy South neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.
Vacant apartments or homes are a major fact of life in Gramercy South. The current real estate vacancy rate here is 26.8%. This is higher than the rate of vacancies in 93.0% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, 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.
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 102,487 people per square mile, it is more densely populated than 99.7% 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 Gramercy South neighborhood is one of the most walkable neighborhoods in America.
In addition, the real estate in the Gramercy South 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, 91.6% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.5% of American neighborhoods.
Furthermore, the Gramercy South 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 86.3% 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.
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 Gramercy South neighborhood have a highly unusual car ownership. 67.7% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.5% of U.S. neighborhoods.
Modes of Transportation
If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 6.9% of residents in the Gramercy South neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 99.1% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.
Also, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 36.6% of the Gramercy South 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, in the Gramercy South 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 22.2% of residents here. This is a higher proportion of walking commuters than we found in 98.5% of American neighborhoods. Get ready to put on your walking shoes if you move here!
People
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 Gramercy South 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.
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 Gramercy South neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 97.5% 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 Gramercy South neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for young, single professionals.
Also, there is an especially high percentage of incarcerated people (1.9%) living in the Gramercy South neighborhood.
Finally, 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 3.3% of America's neighborhoods are wealthier than the Gramercy South 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.
Occupations
The Gramercy South neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 96.1% of the neighborhoods in America. In fact, 71.2% 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 Gramercy South neighborhood has more Eastern European and Ukrainian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.3% of this neighborhood's residents have Eastern European ancestry and 1.9% have Ukrainian ancestry.
Gramercy South is also pretty special linguistically. Significantly, 5.6% of its residents five years old and above primarily speak Chinese at home. While this may seem like a small percentage, it is higher than 95.6% of the neighborhoods in America.
Migration / Stability
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Gramercy South neighborhood. In the Gramercy South neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 96.2% 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 Gramercy South 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 96.7% of the neighborhoods in America. In addition, 3.1% 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 71.1% 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 Gramercy South neighborhood, 71.2% 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 15.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (7.5%), and 5.8% 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 Gramercy South neighborhood is English, spoken by 78.1% of households. Other important languages spoken here include Spanish, Chinese and Italian.
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 Gramercy South neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Asian (18.6%). There are also a number of people of German ancestry (10.2%), and residents who report English roots (8.5%), and some of the residents are also of Italian ancestry (8.2%), along with some Irish ancestry residents (5.9%), among others. In addition, 16.1% 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 Gramercy South neighborhood spend between 15 and 30 minutes commuting one-way to work (47.4% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (36.6%) 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 (22.2%) and 6.9% of residents also bicycle 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.
