Madison Ave / E 65th St median real estate price is $4,402,569, which is more expensive than 99.2% of the neighborhoods in New York and 99.8% of the neighborhoods in the U.S.
The average rental price in Madison Ave / E 65th St is currently $4,437, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 81.0% of the neighborhoods in New York.
Madison Ave / E 65th St is a densely urban neighborhood (based on population density) located in New York, New York.
Madison Ave / E 65th St 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 single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Madison Ave / E 65th St 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 Madison Ave / E 65th St. The current real estate vacancy rate here is 49.7%. This is higher than the rate of vacancies in 98.7% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (31.6%). 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.
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
People
Wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Madison Ave / E 65th St neighborhood is wealthier than 99.2% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood. As one would expect in a considerably wealthy neighborhood such as this, Madison Ave / E 65th St also has one of the lowest ratings of child poverty in the nation.
In addition, the rate of college educated adults in the Madison Ave / E 65th St neighborhood is a unique characteristic of the neighborhood. 90.0% 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 99.7% 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 Madison Ave / E 65th St neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 99.5% 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 Madison Ave / E 65th St neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives.
Real Estate
One of the really unique and interesting things about the look and setting of the Madison Ave / E 65th St neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 96.4% 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 99.3% of all neighborhoods in America.
In addition, the Madison Ave / E 65th St neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 51,390 persons per square mile in the neighborhood, it is more packed with people than 98.5% 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 Madison Ave / E 65th St neighborhood is one of the most walkable neighborhoods in America.
Furthermore, despite all of the residential real estate here in the Madison Ave / E 65th St neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 49.7%, which is higher than 98.7% of all U.S. neighborhoods.
Modes of Transportation
In the Madison Ave / E 65th St 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 32.0% of residents here. This is a higher proportion of walking commuters than we found in 99.2% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, more people ride the bus in this neighborhood each day to get to work than 97.3% of U.S. neighborhoods.
Finally, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 12.7% of the Madison Ave / E 65th St neighborhood's commuters ride the train to and from work each day, which is more than we found in 95.9% of America's neighborhoods.
Car Ownership
We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Madison Ave / E 65th St neighborhood has a highly unusual pattern of car ownership. 55.4% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.0% of U.S. neighborhoods.
Occupations
Executives, managers and professionals make up 79.2% of the workforce in the Madison Ave / E 65th St neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 98.9% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Diversity
Did you know that the Madison Ave / E 65th St neighborhood has more Eastern European and Iranian 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 2.1% have Iranian ancestry.
Madison Ave / E 65th St is also pretty special linguistically. Significantly, 1.7% of its residents five years old and above primarily speak Greek at home. While this may seem like a small percentage, it is higher than 98.7% 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 Madison Ave / E 65th St 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 99.2% 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 Madison Ave / E 65th St neighborhood, 79.2% 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 12.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (6.1%), and 3.1% in government jobs, whether they are in local, state, or federal positions.
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 Madison Ave / E 65th St neighborhood is English, spoken by 90.7% of households. Other important languages spoken here include Spanish and Portuguese.
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 Madison Ave / E 65th St neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as English (11.3%). There are also a number of people of Irish ancestry (8.6%), and residents who report German roots (7.9%), and some of the residents are also of Polish ancestry (7.0%), along with some Russian ancestry residents (5.2%), among others. In addition, 15.4% 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 Madison Ave / E 65th St neighborhood spend between 15 and 30 minutes commuting one-way to work (58.6% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (32.0%) hop out the door and walk to work to get to work. In addition, quite a number also ride the bus to get to work (15.1%) and 14.2% of residents also drive alone in a private automobile for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
