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Real Estate Prices & Overview

Pelham Parkway median real estate price is $551,219, which is more expensive than 45.1% of the neighborhoods in New York and 73.7% of the neighborhoods in the U.S.

The average rental price in Pelham Parkway is currently $3,445, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 66.1% of the neighborhoods in New York.

Pelham Parkway is a densely urban neighborhood (based on population density) located in Bronx, New York.

Pelham Parkway 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 Pelham Parkway neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

Real estate vacancies in Pelham Parkway are 4.8%, which is lower than one will find in 68.0% of American neighborhoods. Demand for real estate in Pelham Parkway is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

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 Bronx, the Pelham Parkway neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

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 95,299 people per square mile, it is more densely populated than 99.6% 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 Pelham Parkway neighborhood is one of the most walkable neighborhoods in America.

In addition, the real estate in the Pelham Parkway neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 82.4% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 97.1% of American neighborhoods.

Furthermore, the Pelham Parkway 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 87.2% 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.

Also of note, 90.0% of the real estate in the Pelham Parkway neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

Modes of Transportation

In the Pelham Parkway neighborhood, 45.8% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 99.2% of the neighborhoods in America.

Also, our research revealed that more commuters here take the bus to work (12.3% ride the bus) than 96.1% 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.

Car Ownership

American households most often have a car, and regularly they have two or three. But households in the Pelham Parkway neighborhood buck this trend. 40.3% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.1% of U.S. neighborhoods.

People

With more than 1.9% of residents living with a same sex partner, Pelham Parkway is truly a neighborhood that stands out from the rest in this regard. In fact, exclusive analysis by NeighborhoodScout reveals that this neighborhood has a greater concentration of same sex couples than 96.5% of U.S. neighborhoods.

Diversity

Did you know that the Pelham Parkway neighborhood has more Dominican and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 15.1% of this neighborhood's residents have Dominican ancestry and 18.8% have Puerto Rican ancestry.

Pelham Parkway is also pretty special linguistically. Significantly, 8.0% of its residents five years old and above primarily speak Arabic at home. While this may seem like a small percentage, it is higher than 99.4% 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 Pelham Parkway neighborhood in Bronx are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 65.7% of the neighborhoods in America. With 10.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 51.5% 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 Pelham Parkway neighborhood, 34.9% 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 26.1% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (20.2%), and 18.9% 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 Pelham Parkway neighborhood is English, spoken by 38.7% of households. Other important languages spoken here include Spanish, Arabic, Korean and African languages.

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 Pelham Parkway neighborhood in Bronx, NY, residents most commonly identify their ethnicity or ancestry as Puerto Rican (18.8%). There are also a number of people of Asian ancestry (15.3%), and residents who report Dominican roots (15.1%), and some of the residents are also of South American ancestry (7.0%), along with some Arab ancestry residents (5.3%), among others. In addition, 22.5% 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 Pelham Parkway neighborhood spend between 45 minutes and one hour commuting one-way to work (54.7% of working residents), longer and tougher than most commutes in America.

Here most residents (45.8%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (27.6%) and 12.3% 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.


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