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Real Estate Prices & Overview

Parkchester median real estate price is $287,454, which is less expensive than 74.2% of New York neighborhoods and 60.7% of all U.S. neighborhoods.

The average rental price in Parkchester is currently $2,938, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 48.0% of New York neighborhoods.

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

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

In Parkchester, the current vacancy rate is 2.3%, which is a lower rate of vacancies than 85.5% of all neighborhoods in the U.S. This means that the housing supply in Parkchester is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

Real Estate

One of the really unique and interesting things about the look and setting of the Parkchester neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 100.0% 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 99.9% of all neighborhoods in America.

In addition, 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 118,245 people per square mile, it is more densely populated than 99.8% 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 Parkchester neighborhood is one of the most walkable neighborhoods in America.

Furthermore, the Parkchester 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 94.2% 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.

Length of Commute

Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the Parkchester neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 19.1% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 99.4% of all neighborhoods in America.

Modes of Transportation

If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 45.4% of the Parkchester neighborhood's commuters ride the train to and from work each day, which is more than we found in 99.0% of America's neighborhoods.

Car Ownership

American households most often have a car, and regularly they have two or three. But households in the Parkchester neighborhood buck this trend. 54.6% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.9% of U.S. neighborhoods.

Occupations

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 Parkchester neighborhood in particular stands out when compared nationally for the proportion of its working residents who are employed by the government. At 15.0% of its workforce, this neighborhood has a greater concentration of government workers than 97.0% of U.S. neighborhoods.

Diversity

Did you know that the Parkchester neighborhood has more South American and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 14.0% of this neighborhood's residents have South American ancestry and 16.3% have Puerto Rican ancestry.

Parkchester is also pretty special linguistically. Significantly, 3.7% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 97.8% 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 Parkchester neighborhood in Bronx are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 43.9% of the neighborhoods in America. With 37.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 86.7% of U.S. neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Parkchester neighborhood, 41.0% 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 20.5% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (19.9%), and 18.6% 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 Parkchester neighborhood is English, spoken by 51.3% of households. Other important languages spoken here include Spanish, African languages and French.

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 Parkchester neighborhood in Bronx, NY, residents most commonly identify their ethnicity or ancestry as Puerto Rican (16.3%). There are also a number of people of South American ancestry (14.0%), and residents who report Asian roots (12.6%), and some of the residents are also of Sub-Saharan African ancestry (11.3%), along with some African ancestry residents (3.8%), among others. In addition, 23.4% of the residents of this neighborhood were born in another country.

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 Parkchester neighborhood spend between 45 minutes and one hour commuting one-way to work (38.8% of working residents), longer and tougher than most commutes in America.

Here most residents (45.4%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (23.8%) and 10.4% 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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