Mansion Area median real estate price is $171,268, which is less expensive than 89.3% of New York neighborhoods and 82.2% of all U.S. neighborhoods.
The average rental price in Mansion Area is currently $1,618, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 78.9% of New York neighborhoods.
Mansion Area is an urban neighborhood (based on population density) located in Albany, New York.
Mansion Area 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 Mansion Area 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.
Mansion Area has a 13.2% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 73.2% 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.
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.
Real Estate
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 Mansion Area 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 76.4% of the real estate here is made up of such dwellings, which is higher than 99.9% of all U.S. neighborhoods.
In addition, 89.3% of the real estate in the Mansion Area neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Furthermore, the Mansion Area 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 85.5% 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.
Also of note, 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 65.0% of the residential real estate in the Mansion Area neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 97.6% 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 99.7% of U.S. neighborhoods.
People
Of note, 74.4% of the children in this area live in poverty; an extraordinarily high percentage compared to other neighborhoods in the nation. In a nation where approximately one in four children grows up in poverty, this neighborhood stands out for the depth of the problem manifested here.
In addition, one of the most interesting things about the Mansion Area neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 55.1% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 97.7% of the neighborhoods in America.
Occupations
The Mansion Area neighborhood has a greater proportion of government workers living in it than 98.9% of the neighborhoods in America, according to NeighborhoodScout's exclusive analysis. This is a unique feature of this neighborhood, and one that shapes its character.
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 Mansion Area neighborhood has a highly unusual pattern of car ownership. 31.8% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.4% of U.S. neighborhoods.
Diversity
Did you know that the Mansion Area neighborhood has more Jamaican and Lebanese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 21.5% of this neighborhood's residents have Jamaican ancestry and 2.0% have Lebanese ancestry.
Mansion Area is also pretty special linguistically. Significantly, 1.9% of its residents five years old and above primarily speak Mon-Khmer, which is the dominant language of Cambodia, at home. While this may seem like a small percentage, it is higher than 99.5% of the neighborhoods in America.
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. In the Mansion Area neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.3% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 Mansion Area neighborhood in Albany are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 88.6% of U.S. neighborhoods. With 74.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 98.9% of U.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 Mansion Area neighborhood, 30.8% 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 30.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (23.6%), and 19.7% 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 Mansion Area neighborhood is English, spoken by 88.2% of households. Other important languages spoken here include Italian and Spanish.
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 Mansion Area neighborhood in Albany, NY, residents most commonly identify their ethnicity or ancestry as Jamaican (21.5%). There are also a number of people of Irish ancestry (16.4%), and residents who report German roots (12.1%), and some of the residents are also of Mexican ancestry (10.6%), along with some Asian ancestry residents (9.7%), 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 Mansion Area neighborhood spend between 15 and 30 minutes commuting one-way to work (34.9% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (40.7%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (30.8%) and 8.9% of residents also hop out the door and walk to work 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.
