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Real Estate Prices & Overview

Hoyt Ave / 23rd St median real estate price is $1,853,047, which is more expensive than 92.0% of the neighborhoods in New York and 97.6% of the neighborhoods in the U.S.

The average rental price in Hoyt Ave / 23rd St is currently $5,082, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 89.6% of the neighborhoods in New York.

Hoyt Ave / 23rd St is a densely urban neighborhood (based on population density) located in Queens, New York.

Hoyt Ave / 23rd St 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 Hoyt Ave / 23rd 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 Hoyt Ave / 23rd St. The current real estate vacancy rate here is 31.9%. This is higher than the rate of vacancies in 95.5% 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.

Notable & Unique Neighborhood Characteristics

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 Hoyt Ave / 23rd St neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Modes of Transportation

In the Hoyt Ave / 23rd St neighborhood, 54.9% 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 99.7% of the neighborhoods in America.

Real Estate

The Hoyt Ave / 23rd St neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 39,516 persons per square mile in the neighborhood, it is more packed with people than 97.9% 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 Hoyt Ave / 23rd St neighborhood is one of the most walkable neighborhoods in America.

In addition, 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 Hoyt Ave / 23rd St 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 52.7% of the real estate here is made up of such dwellings, which is higher than 98.7% of all U.S. neighborhoods.

Furthermore, despite all of the residential real estate here in the Hoyt Ave / 23rd 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 31.9%, which is higher than 95.5% of all U.S. neighborhoods.

Also of note, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Hoyt Ave / 23rd St neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 62.0% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 97.0% of the neighborhoods in the United States.

Car Ownership

American households most often have a car, and regularly they have two or three. But households in the Hoyt Ave / 23rd St neighborhood buck this trend. 40.4% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.1% of U.S. neighborhoods.

Occupations

Executives, managers and professionals make up 71.2% of the workforce in the Hoyt Ave / 23rd St neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 96.1% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

Diversity

Did you know that the Hoyt Ave / 23rd St neighborhood has more Greek and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 15.6% of this neighborhood's residents have Greek ancestry and 7.4% have South American ancestry.

Hoyt Ave / 23rd St is also pretty special linguistically. Significantly, 8.2% 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 100.0% of the neighborhoods in America.

The Neighbors

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 Hoyt Ave / 23rd St neighborhood in Queens are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 78.5% of the neighborhoods in America. With 23.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 73.2% of U.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 Hoyt Ave / 23rd St 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 18.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (5.9%), and 4.7% 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 Hoyt Ave / 23rd St neighborhood is English, spoken by 56.4% of households. Other important languages spoken here include Spanish, Greek, Urdu (the national language of Pakistan) and Italian.

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 Hoyt Ave / 23rd St neighborhood in Queens, NY, residents most commonly identify their ethnicity or ancestry as Greek (15.6%). There are also a number of people of Asian ancestry (15.3%), and residents who report Italian roots (10.5%), and some of the residents are also of Irish ancestry (9.5%), along with some South American ancestry residents (7.4%), among others. In addition, 30.5% of the residents of this neighborhood were born in another country.

Getting to Work

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 Hoyt Ave / 23rd St neighborhood spend between 45 minutes and one hour commuting one-way to work (44.5% of working residents), longer and tougher than most commutes in America.

Here most residents (54.9%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (15.7%) . 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.


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