98th St / 37th Ave median real estate price is $934,176, which is more expensive than 65.5% of the neighborhoods in New York and 85.9% of the neighborhoods in the U.S.
The average rental price in 98th St / 37th Ave is currently $3,619, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 66.0% of the neighborhoods in New York.
98th St / 37th Ave is a densely urban neighborhood (based on population density) located in Queens, New York.
98th St / 37th Ave real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the 98th St / 37th Ave neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.
In 98th St / 37th Ave, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in 98th St / 37th Ave is very tight compared to the demand for property here.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Queens, the 98th St / 37th Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the 98th St / 37th Ave neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.
In addition, 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 112,164 people per square mile, it is more densely populated than 99.8% 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 98th St / 37th Ave neighborhood is one of the most walkable neighborhoods in America.
Furthermore, corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the 98th St / 37th Ave neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 60.6% of the real estate here is made up of such dwellings, which is higher than 99.2% of all U.S. neighborhoods.
Modes of Transportation
In the 98th St / 37th Ave neighborhood, 68.9% 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 100.0% of the neighborhoods in America.
Also, would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the 98th St / 37th Ave neighborhood is a fantastic option for bicycle commuters, as 3.9% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 97.1% of the neighborhoods in America.
Finally, more people in 98th St / 37th Ave choose to walk to work each day (11.5%) 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.
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 98th St / 37th Ave neighborhood has a highly unusual pattern of car ownership. 82.0% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.9% of U.S. neighborhoods.
Occupations
From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the 98th St / 37th Ave neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 96.8% of all American neighborhoods.
Diversity
Did you know that the 98th St / 37th Ave neighborhood has more South American and Dominican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 41.7% of this neighborhood's residents have South American ancestry and 11.8% have Dominican ancestry.
98th St / 37th Ave is also pretty special linguistically. Significantly, 92.0% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 99.7% of all U.S. neighborhoods.
Migration / Stability
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. What is interesting to note, is that the 98th St / 37th Ave neighborhood has a greater percentage of residents born in another country (62.6%) than are found in 99.4% 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 98th St / 37th Ave neighborhood in Queens are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 47.5% of the neighborhoods in America. With 13.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 57.7% of U.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 98th St / 37th Ave neighborhood, 40.6% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 40.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (10.3%), and 9.2% in executive, management, and professional occupations.
Languages
The most common language spoken in the 98th St / 37th Ave neighborhood is Spanish, spoken by 92.0% of households. Some people also speak English (6.4%).
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 98th St / 37th Ave neighborhood in Queens, NY, residents most commonly identify their ethnicity or ancestry as South American (41.7%). There are also a number of people of Mexican ancestry (31.8%), and residents who report Dominican roots (11.8%), and some of the residents are also of Spanish ancestry (5.0%), along with some Puerto Rican ancestry residents (2.5%), among others. In addition, 62.6% 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 98th St / 37th Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (45.7% of working residents), longer and tougher than most commutes in America.
Here most residents (68.9%) 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 (11.5%) and 8.8% 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.
