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Real Estate Prices & Overview

45th St / 14th Ave median real estate price is $1,433,316, which is more expensive than 90.2% of the neighborhoods in New York and 97.1% of the neighborhoods in the U.S.

The average rental price in 45th St / 14th Ave is currently $3,624, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 71.0% of the neighborhoods in New York.

45th St / 14th Ave is a densely urban neighborhood (based on population density) located in Brooklyn, New York.

45th St / 14th Ave real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more 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 45th St / 14th 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 1940 and 1969.

Vacant apartments or homes are a major fact of life in 45th St / 14th Ave. The current real estate vacancy rate here is 18.5%. This is higher than the rate of vacancies in 84.7% 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

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 Brooklyn, the 45th St / 14th Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Modes of Transportation

More people in 45th St / 14th Ave choose to walk to work each day (44.1%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.

Also, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 11.1% of the 45th St / 14th Ave neighborhood's commuters ride the train to and from work each day, which is more than we found in 95.4% of America's neighborhoods.

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 73,017 people per square mile, it is more densely populated than 99.2% 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 45th St / 14th Ave neighborhood is one of the most walkable neighborhoods in America.

In addition, corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the 45th St / 14th Ave neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 54.1% of the real estate here is made up of such dwellings, which is higher than 98.8% of all 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 45th St / 14th Ave neighborhood have a highly unusual car ownership. 43.3% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.4% of U.S. neighborhoods.

Diversity

Did you know that the 45th St / 14th Ave neighborhood has more Hungarian and Romanian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 11.1% of this neighborhood's residents have Hungarian ancestry and 4.7% have Romanian ancestry.

45th St / 14th Ave is also pretty special linguistically. Significantly, 62.7% of its residents five years old and above primarily speak German/Yiddish at home. This is a higher percentage than 99.9% 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 45th St / 14th Ave neighborhood in Brooklyn are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 62.0% of U.S. neighborhoods. With 28.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 79.3% of U.S. neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the 45th St / 14th Ave neighborhood, 42.1% 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 32.7% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (18.8%), and 6.4% 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 45th St / 14th Ave neighborhood is German/Yiddish, spoken by 62.7% of households. Other important languages spoken here include English and Spanish.

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 45th St / 14th Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Hungarian (11.1%). There are also a number of people of Polish ancestry (4.9%), and residents who report Romanian roots (4.7%), and some of the residents are also of Italian ancestry (4.0%), along with some Asian ancestry residents (3.6%), among others.

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 45th St / 14th Ave neighborhood spend between 15 and 30 minutes commuting one-way to work (45.0% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (44.1%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (21.5%) and 12.7% of residents also carpool with coworkers, friends, or neighbors for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.


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