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Real Estate Prices & Overview

Second Avenue / Krank Park - Cherry Hill median real estate price is $175,992, which is less expensive than 88.4% of New York neighborhoods and 81.8% of all U.S. neighborhoods.

The average rental price in Second Avenue / Krank Park - Cherry Hill is currently $1,590, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 79.9% of New York neighborhoods.

Second Avenue / Krank Park - Cherry Hill is a suburban neighborhood (based on population density) located in Albany, New York.

Second Avenue / Krank Park - Cherry Hill real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings 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 Second Avenue / Krank Park - Cherry Hill 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 1970 and 1999.

Vacant apartments or homes are a major fact of life in Second Avenue / Krank Park - Cherry Hill. The current real estate vacancy rate here is 18.7%. This is higher than the rate of vacancies in 85.0% 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 Albany, the Second Avenue / Krank Park - Cherry Hill neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The Second Avenue / Krank Park - Cherry Hill neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 37.5% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 96.6% of America's neighborhoods.

In addition, 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 57.6% of the residential real estate in the Second Avenue / Krank Park - Cherry Hill neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 95.9% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Modes of Transportation

More people ride the bus in this neighborhood each day to get to work than 96.3% of U.S. neighborhoods.

Diversity

Did you know that the Second Avenue / Krank Park - Cherry Hill neighborhood has more Scots-Irish and Dutch ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.9% of this neighborhood's residents have Scots-Irish ancestry and 4.4% have Dutch ancestry.

Second Avenue / Krank Park - Cherry Hill is also pretty special linguistically. Significantly, 0.8% 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 95.4% 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 Second Avenue / Krank Park - Cherry Hill 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 60.2% of U.S. neighborhoods. With 19.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 68.3% 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 Second Avenue / Krank Park - Cherry Hill neighborhood, 37.5% 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 29.6% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (28.8%), and 7.1% in government jobs, whether they are in local, state, or federal positions.

Languages

The most common language spoken in the Second Avenue / Krank Park - Cherry Hill neighborhood is English, spoken by 82.8% of households. Some people also speak Spanish (10.7%).

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Second Avenue / Krank Park - Cherry Hill neighborhood in Albany, NY, residents most commonly identify their ethnicity or ancestry as Irish (8.5%). There are also a number of people of Sub-Saharan African ancestry (7.9%), and residents who report Puerto Rican roots (7.0%), and some of the residents are also of English ancestry (6.2%), along with some Dutch ancestry residents (4.4%), among others.

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 Second Avenue / Krank Park - Cherry Hill neighborhood spend between 15 and 30 minutes commuting one-way to work (46.9% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (64.4%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (21.4%) and 12.7% of residents also ride the bus 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.


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