16th St / 5th Ave median real estate price is $2,481,580, which is more expensive than 95.2% of the neighborhoods in New York and 98.6% of the neighborhoods in the U.S.
The average rental price in 16th St / 5th Ave is currently $4,310, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 83.4% of the neighborhoods in New York.
16th St / 5th Ave is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
16th St / 5th Ave real estate is primarily made up of small (studio to two bedroom) to large (four, five or more bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the 16th St / 5th Ave 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 2000 and the present.
Vacant apartments or homes are a major fact of life in 16th St / 5th Ave. The current real estate vacancy rate here is 20.9%. This is higher than the rate of vacancies in 88.0% 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.
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
Of note is NeighborhoodScout's research finding that the 16th St / 5th Ave neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the 16th St / 5th Ave community truly stands out from the rest in this regard.
In addition, if you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the 16th St / 5th Ave neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 98.3% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the 16th St / 5th Ave neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives.
Modes of Transportation
In the 16th St / 5th Ave neighborhood, 67.5% 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 100.0% of the neighborhoods in America.
Real Estate
The 16th St / 5th Ave neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 53,690 persons per square mile in the neighborhood, it is more packed with people than 98.6% of the nation'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 16th St / 5th Ave neighborhood is one of the most walkable neighborhoods in America.
In addition, 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 16th St / 5th Ave 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, 33.7% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 95.7% of America's neighborhoods.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the 16th St / 5th Ave neighborhood buck this trend. 52.2% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.8% of U.S. neighborhoods.
Occupations
Executives, managers and professionals make up 78.1% of the workforce in the 16th St / 5th Ave neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 98.7% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Diversity
Did you know that the 16th St / 5th Ave neighborhood has more Austrian and Polish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.7% of this neighborhood's residents have Austrian ancestry and 12.3% have Polish ancestry.
16th St / 5th Ave is also pretty special linguistically. Significantly, 2.7% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 99.2% of the neighborhoods in America.
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 16th St / 5th Ave neighborhood in Brooklyn are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 88.7% of the neighborhoods in America. 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 16th St / 5th Ave neighborhood, 78.1% 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 10.5% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (9.4%).
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 16th St / 5th Ave neighborhood is English, spoken by 54.2% of households. Other important languages spoken here include Spanish, German/Yiddish, Portuguese and Russian.
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 16th St / 5th Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Asian (13.9%). There are also a number of people of Italian ancestry (13.7%), and residents who report Polish roots (12.3%), and some of the residents are also of English ancestry (9.4%), along with some Irish ancestry residents (8.3%), among others. In addition, 37.6% of the residents of this neighborhood were born in another country.
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 16th St / 5th Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (42.4% of working residents), longer and tougher than most commutes in America.
Here most residents (67.5%) take the train to get to work. In addition, quite a number also hop out the door and walk to work to get to work (5.4%) . 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.
