Tribeca median real estate price is $7,503,640, which is more expensive than 99.9% of the neighborhoods in New York and 100.0% of the neighborhoods in the U.S.
The average rental price in Tribeca is currently $6,994, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 99.0% of the neighborhoods in New York.
Tribeca is a densely urban neighborhood (based on population density) located in New York, New York.
Tribeca 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 Tribeca 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.
Vacant apartments or homes are a major fact of life in Tribeca. The current real estate vacancy rate here is 18.1%. This is higher than the rate of vacancies in 84.0% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (9.1%). 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.
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
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 0.5% of America's neighborhoods are wealthier than the Tribeca 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, Tribeca also has one of the lowest ratings of child poverty in the nation.
In addition, 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 93.5% of the adults living in the Tribeca neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 99.9% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
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 Tribeca 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 Tribeca neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives.
Finally, with more than 2.0% of residents living with a same sex partner, Tribeca is truly a neighborhood that stands out from the rest in this regard. In fact, exclusive analysis by NeighborhoodScout reveals that this neighborhood has a greater concentration of same sex couples than 96.9% of U.S. neighborhoods.
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 Tribeca neighborhood have a highly unusual car ownership. 63.6% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.4% of U.S. neighborhoods.
Real Estate
The Tribeca neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 48,953 persons per square mile in the neighborhood, it is more packed with people than 98.4% 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 Tribeca 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 Tribeca neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 93.1% 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 98.7% of all neighborhoods in America.
Furthermore, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 60.1% of the residential real estate in the Tribeca neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 96.5% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
Modes of Transportation
If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 34.7% of the Tribeca neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.5% of America's neighborhoods.
Also, a unique way of commuting is simply not to. And in the Tribeca neighborhood, analysis shows that 33.5% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 98.3% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
Finally, more people in Tribeca choose to walk to work each day (17.6%) 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.
Occupations
The Tribeca neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 96.7% of the neighborhoods in America. In fact, 72.4% 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 Tribeca neighborhood has more Eastern European and Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.2% of this neighborhood's residents have Eastern European ancestry and 1.2% have Iranian ancestry.
Tribeca is also pretty special linguistically. Significantly, 1.0% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 97.6% 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 Tribeca 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 99.5% 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 Tribeca neighborhood, 72.4% 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 19.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (5.0%), and 3.6% 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 Tribeca neighborhood is English, spoken by 85.3% of households. Other important languages spoken here include Spanish and French.
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 Tribeca neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Irish (11.5%). There are also a number of people of English ancestry (11.1%), and residents who report German roots (9.8%), and some of the residents are also of Asian ancestry (8.3%), along with some Italian ancestry residents (6.3%), among others. In addition, 19.9% 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 Tribeca neighborhood spend between 15 and 30 minutes commuting one-way to work (58.8% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (34.7%) 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 (17.6%) and 6.2% 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.
