Downtown Albany median real estate price is $520,112, which is more expensive than 39.6% of the neighborhoods in New York and 67.4% of the neighborhoods in the U.S.
The average rental price in Downtown Albany is currently $2,034, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 69.5% of New York neighborhoods.
Downtown Albany is a suburban neighborhood (based on population density) located in Albany, New York.
Downtown Albany 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 renter occupied. Many of the residences in the Downtown Albany neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built before 1940.
Downtown Albany has a 12.4% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 71.9% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
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 Albany, the Downtown Albany neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
In a nation where 1 out of every 4 children lives in poverty, the Downtown Albany neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 53.7%. This is a higher percent living alone than we found in 97.1% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.
More people in Downtown Albany choose to walk to work each day (29.1%) 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.
Also, our research revealed that more commuters here take the bus to work (11.5% ride the bus) than 96.0% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.
98.3% of the real estate in the Downtown Albany neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
In addition, the Downtown Albany 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 91.5% 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.
Furthermore, one of the really unique and interesting things about the look and setting of the Downtown Albany neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 75.4% 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 96.0% of all neighborhoods in America.
The government often provides some of the more stable jobs in the economy. From local, to state, to federal government workers, the government can also be a major employer. What NeighborhoodScout's analysis revealed, is that the Downtown Albany neighborhood in particular stands out when compared nationally for the proportion of its working residents who are employed by the government. At 17.4% of its workforce, this neighborhood has a greater concentration of government workers than 98.3% of U.S. neighborhoods.
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 Downtown Albany neighborhood has a highly unusual pattern of car ownership. 27.8% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 96.8% of U.S. neighborhoods.
Did you know that the Downtown Albany neighborhood has more Jamaican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 8.3% of this neighborhood's residents have Jamaican ancestry.
Downtown Albany is also pretty special linguistically. Significantly, 11.1% of its residents five years old and above primarily speak Italian at home. While this may seem like a small percentage, it is higher than 98.3% 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 Downtown Albany neighborhood in Albany are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 83.9% of U.S. neighborhoods. 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.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the Downtown Albany neighborhood, 52.5% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 26.7% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (17.4%), and 14.2% in sales and service jobs, from major sales accounts, to working in fast food restaurants.
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 Downtown Albany neighborhood is English, spoken by 90.9% of households. Other important languages spoken here include Italian, Spanish and Korean.
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 Downtown Albany neighborhood in Albany, NY, residents most commonly identify their ethnicity or ancestry as Irish (16.7%). There are also a number of people of Italian ancestry (9.7%), and residents who report Jamaican roots (8.3%), and some of the residents are also of German ancestry (8.0%), along with some Polish ancestry residents (4.4%), among others.
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 Downtown Albany neighborhood spend under 15 minutes commuting one-way to work (45.7% of working residents), one of the shortest commutes across America.
Here most residents (31.0%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (29.1%) and 13.5% of residents also carpool with coworkers, friends, or neighbors for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
