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Real Estate Prices & Overview

Ovington Ave / 5th Ave median real estate price is $1,242,077, which is more expensive than 71.1% of the neighborhoods in New York and 83.4% of the neighborhoods in the U.S.

The average rental price in Ovington Ave / 5th Ave is currently $3,355, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 63.2% of the neighborhoods in New York.

Ovington Ave / 5th Ave is a densely urban neighborhood (based on population density) located in Brooklyn, New York.

Ovington Ave / 5th 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 Ovington Ave / 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 1940 and 1969.

Home and apartment vacancy rates are 9.5% in Ovington Ave / 5th Ave. NeighborhoodScout analysis shows that this rate is lower than 40.6% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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 Ovington Ave / 5th Ave 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 78,493 people per square mile, it is more densely populated than 99.3% 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 Ovington Ave / 5th Ave neighborhood is one of the most walkable neighborhoods in America.

In addition, the real estate in the Ovington Ave / 5th Ave 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, 69.8% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 95.0% of American neighborhoods.

Furthermore, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Ovington Ave / 5th Ave neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 57.4% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 95.8% of the neighborhoods in the United States.

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 Ovington Ave / 5th Ave neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 17.2% 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 99.1% of all neighborhoods in America.

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 Ovington Ave / 5th Ave neighborhood have a highly unusual car ownership. 57.0% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.1% of U.S. neighborhoods.

Modes of Transportation

If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 43.3% of the Ovington Ave / 5th Ave 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.

Also, more people in Ovington Ave / 5th Ave choose to walk to work each day (11.7%) 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.

Diversity

Did you know that the Ovington Ave / 5th Ave neighborhood has more Arab and Brazilian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 27.2% of this neighborhood's residents have Arab ancestry and 1.7% have Brazilian ancestry.

Ovington Ave / 5th Ave is also pretty special linguistically. Significantly, 20.3% 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 99.9% of the neighborhoods in America.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Ovington Ave / 5th Ave neighborhood. What is interesting to note, is that the Ovington Ave / 5th Ave neighborhood has a greater percentage of residents born in another country (42.8%) than are found in 95.3% 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 Ovington Ave / 5th Ave neighborhood in Brooklyn are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 59.5% of the neighborhoods in America. With 11.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 52.6% 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 Ovington Ave / 5th Ave neighborhood, 46.3% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 22.1% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (20.3%), and 11.3% in clerical, assistant, and tech support 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 Ovington Ave / 5th Ave neighborhood is English, spoken by 40.1% of households. Other important languages spoken here include Spanish, Arabic and Chinese.

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 Ovington Ave / 5th Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Arab (27.2%). There are also a number of people of Asian ancestry (10.8%), and residents who report Italian roots (7.7%), and some of the residents are also of Mexican ancestry (6.6%), along with some South American ancestry residents (5.8%), among others. In addition, 42.8% 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 Ovington Ave / 5th Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (33.7% of working residents), longer and tougher than most commutes in America.

Here most residents (43.3%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (14.8%) and 11.7% of residents also hop out the door and walk to work 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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