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Real Estate Prices & Overview

Elder Ave / Watson Ave median real estate price is $884,524, which is more expensive than 72.0% of the neighborhoods in New York and 89.7% of the neighborhoods in the U.S.

The average rental price in Elder Ave / Watson Ave is currently $2,715, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 54.5% of New York neighborhoods.

Elder Ave / Watson Ave is a densely urban neighborhood (based on population density) located in Bronx, New York.

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

Elder Ave / Watson Ave has a 11.1% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 66.2% 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.

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

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 131,234 people per square mile, it is more densely populated than 99.9% 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 Elder Ave / Watson Ave neighborhood is one of the most walkable neighborhoods in America.

In addition, 88.8% of the real estate in the Elder Ave / Watson Ave neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood 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 44.8% of the Elder Ave / Watson Ave neighborhood's commuters ride the train to and from work each day, which is more than we found in 99.1% of America's neighborhoods.

Also, more people ride the bus in this neighborhood each day to get to work than 98.1% 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 Elder Ave / Watson Ave neighborhood have a highly unusual car ownership. 56.0% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.0% of U.S. neighborhoods.

People

The Elder Ave / Watson Ave neighborhood has a greater percentage of children living in poverty (54.6%) than found in 95.5% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.

Diversity

Did you know that the Elder Ave / Watson Ave neighborhood has more Dominican and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 25.0% of this neighborhood's residents have Dominican ancestry and 13.1% have Puerto Rican ancestry.

Elder Ave / Watson Ave is also pretty special linguistically. Significantly, 7.3% of its residents five years old and above primarily speak French at home. While this may seem like a small percentage, it is higher than 98.5% of the neighborhoods in America.

Migration / Stability

The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. What is interesting to note, is that the Elder Ave / Watson Ave neighborhood has a greater percentage of residents born in another country (44.6%) than are found in 96.0% of all U.S. neighborhoods.

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 Elder Ave / Watson Ave neighborhood in Bronx are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 94.6% of U.S. neighborhoods. With 54.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 95.5% 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 Elder Ave / Watson Ave neighborhood, 30.7% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 29.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (28.6%), and 11.5% in executive, management, and professional 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 Elder Ave / Watson Ave neighborhood is Spanish, spoken by 58.2% of households. Other important languages spoken here include English, French and Arabic.

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 Elder Ave / Watson Ave neighborhood in Bronx, NY, residents most commonly identify their ethnicity or ancestry as Dominican (25.0%). There are also a number of people of Puerto Rican ancestry (13.1%), and residents who report Mexican roots (9.7%), and some of the residents are also of Sub-Saharan African ancestry (9.7%), along with some South American ancestry residents (6.3%), among others. In addition, 44.6% 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 Elder Ave / Watson Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (47.1% of working residents), longer and tougher than most commutes in America.

Here most residents (44.8%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (22.9%) and 17.6% 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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