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Real Estate Prices & Overview

Median real estate price in the City Center of Binghamton is $152,445, which is less expensive than 91.8% of New York neighborhoods and 86.3% of all U.S. neighborhoods.

The average rental price in Binghamton City Center is currently $3,174, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 42.2% of New York neighborhoods.

Binghamton City Center is a densely urban neighborhood (based on population density) located in Binghamton, New York.

Real estate in the City Center of Binghamton, NY 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 City Center 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 Binghamton City Center. The current real estate vacancy rate here is 27.1%. This is higher than the rate of vacancies in 93.2% 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

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.

People

One of the unique characteristics of the Binghamton City Center neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 97.0% of the neighborhoods in America. In a nation where 1 out of every 4 children lives in poverty, the Binghamton City Center neighborhood also stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, an extraordinary 37.9% of the residents of the Binghamton City Center neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.

Also, 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: 50.1%. This is a higher percent living alone than we found in 95.7% 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.

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 Binghamton City Center 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, 61.4% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 99.3% of America's neighborhoods.

In addition, renter-occupied real estate is dominant in the Binghamton City Center neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 87.0%, which is higher than 95.9% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.

Furthermore, 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 Binghamton City Center neighborhood is one of the most walkable neighborhoods in America.

Modes of Transportation

More people ride the bus in this neighborhood each day to get to work than 98.5% of U.S. neighborhoods.

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 Binghamton City Center neighborhood have a highly unusual car ownership. 33.3% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.5% of U.S. neighborhoods.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Binghamton City Center neighborhood. In the Binghamton City Center neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.6% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

Diversity

Did you know that the Binghamton City Center neighborhood has more Danish and Lebanese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.4% of this neighborhood's residents have Danish ancestry and 1.4% have Lebanese ancestry.

Binghamton City Center is also pretty special linguistically. Significantly, 6.1% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 99.2% of the neighborhoods in America.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the City Center neighborhood in Binghamton are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 97.0% 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.

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 Binghamton City Center neighborhood, 51.6% 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 36.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.7%), and 2.7% in manufacturing and laborer occupations.

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 Binghamton City Center neighborhood is English, spoken by 71.6% of households. Other important languages spoken here include Korean, Spanish and Langs. of India.

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 City Center neighborhood in Binghamton, NY, residents most commonly identify their ethnicity or ancestry as Asian (33.6%). There are also a number of people of Irish ancestry (11.8%), and residents who report Italian roots (7.9%), and some of the residents are also of German ancestry (4.7%), along with some English ancestry residents (3.9%), among others. In addition, 31.3% of the residents of this neighborhood were born in another country.

Getting to Work

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 Binghamton City Center neighborhood spend between 15 and 30 minutes commuting one-way to work (45.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (74.5%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (19.5%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


Real Estate includes:
Average Home Values
Rental Market
Housing Market Details
Neighborhood Setting
Economics & Demographics include:
Lifestyle & Special Character
Household Types
Commute To Work
Migration & Mobility
Race & Ethnic Diversity
Employment Industries & Occupations
Income & Unemployment Rate
Higher Education Attainment
Crime includes:
Neighborhood Crime Index
Crimes Per Square Mile
Property Crime Comparison
Violent Crime Comparison
Schools include:
School Ratings
Schools In District
Public School Test Scores
School District Enrollment
Educational Expenditures

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