Real Estate Prices and Overview
E 86th St / Lexington Ave median real estate prices are $2,021,217, which is more expensive than 99.6% of the neighborhoods
in New York and 99.9% of the
neighborhoods in the U.S.
Average rental prices in E 86th St / Lexington Ave are currently
$2,020, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 97.8%
of the neighborhoods in New York.
E 86th St / Lexington Ave is a densely urban neighborhood (based on population
density) located in New York, New York.
E 86th St / Lexington Ave 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 E 86th St / Lexington Ave neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
Vacant apartments or homes are a major fact of life in
E 86th St / Lexington Ave. The current real estate vacancy rate here is 21.0%.
This is higher than the rate of vacancies in 86.3% of
all U.S. neighborhoods. This can sometimes be the case in neighborhoods
dominated by seasonal homes (such as 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.
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
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.
Notable & Unique: 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 142,656 people per square mile, it is more densely populated than 99.9% 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 E 86th St / Lexington Ave 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 E 86th St / Lexington Ave neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 98.1% 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 99.7% of all neighborhoods in America.
Furthermore, the E 86th St / Lexington Ave 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 81.2% 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.
Notable & Unique: 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 0.7% of America's neighborhoods are wealthier than the
E 86th St / Lexington Ave 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,
E 86th St / Lexington Ave also has one of the lowest ratings of child
poverty in the nation.
In addition, some neighborhoods have residents that are more educated than others. But
in this neighborhood there is a dramatic difference. NeighborhoodScout's
exclusive analysis reveals that 54.8% of the adults here have
earned a Masters degree, medical degree, Ph.D. or law degree. This is a
higher rate of people with a graduate degree than is found in
99.8% of U.S. neighborhoods, where the average American
neighborhood has 8.4% of its adults with a graduate degree. If you are
highly educated, you may have much in common with many of your neighbors here.
Also, think about the people you know personally. How many of them would
purchase box seats to opening night at the symphony? How many of them
regularly attend gallery openings, or are the first to reserve tickets
to opening night at the ballet? If they're like most of us, they don't
do any of these things. But if you're among an exclusive crowd of wealthy
and refined patrons of the arts, then you'll feel right at home in
the E 86th St / Lexington Ave neighborhood: a neighborhood in which more
"urban sophisticates" live than 99.3% of neighborhoods
across the U.S. Here, your neighbors are defined as having urbane
tastes in literature, music, live theatre and the arts. They are wealthy,
educated, travel in style, and live a big city lifestyle whether or
not they live in or near a big city.
In addition to being an excellent choice for urban sophisticates, this
neighborhood is also a very good choice for active retirees.
Notable & Unique: Occupations
The E 86th St / Lexington Ave neighborhood has a higher proportion of
its residents employed as executives, managers and professionals than
99.9% of the neighborhoods in American. In fact, 82.5%
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.
Notable & Unique: Diversity
Did you know that the E 86th St / Lexington Ave neighborhood has more
Russian and Eastern European ancestry people living in it than nearly
any neighborhood in America? It's true! In fact, 13.9% of
this neighborhood's residents have Russian ancestry and 4.6% have Eastern European ancestry.
E 86th St / Lexington Ave is also pretty special linguistically. Significantly, 4.1% of its residents five years old and above primarily
speak French at home. While this may seem like a small percentage, it is higher
than 98.8% of the neighborhoods in America.
Notable & Unique: Modes of Transportation
If you like to ride the train to work, this neighborhood may be for you.
NeighborhoodScout's research revealed that 64.6% of the
E 86th St / Lexington Ave neighborhood's commuters ride the train to and from work each
day, which is more than we found in 99.6% of America's
Notable & Unique: 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 E 86th St / Lexington Ave neighborhood have a highly unusual car ownership.
46.3% of the households in this neighborhood don't own a car at
all. This is more carless households than NeighborhoodScout found in
98.3% of U.S. neighborhoods.
The Neighbors: Income
There are two complimentary 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 E 86th St / Lexington Ave 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 99.3% 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 99.9%
of America's neighborhoods.
The Neighbors: Occupations
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 E 86th St / Lexington Ave neighborhood, 82.5%
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 12.2% of the residents employed.
Other residents here are employed in government jobs, whether they are in local, state, or federal positions
(4.8%), and 4.1% in clerical, assistant, and tech support occupations.
The Neighbors: 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 E 86th St / Lexington Ave neighborhood in New York, NY, residents
most commonly identify their ethnicity or ancestry as Russian
(13.9%). There are also a number of people of Asian ancestry (8.2%) , and residents who report Irish roots (7.0%) , and some of the residents are also of Italian ancestry (6.4%) , along with some German ancestry residents (4.9%), among others. In addition, 17.5% of the residents of this neighborhood were born in another country.
The Neighbors: 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 E 86th St / Lexington Ave
neighborhood is English, spoken by 78.9% of households. Other important languages spoken here include French, Spanish and German.
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 E 86th St / Lexington Ave neighborhood spend
between 15 and 30 minutes commuting one-way to work (43.1% of working
residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (64.6%) 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 (11.6%) and 8.4% of residents also ride the bus 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.