7th St / Prospect Park W median real estate price is $2,071,095, which is more expensive than 94.7% of the neighborhoods in New York and 98.6% of the neighborhoods in the U.S.
The average rental price in 7th St / Prospect Park W is currently $4,815, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 89.3% of the neighborhoods in New York.
7th St / Prospect Park W is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
7th St / Prospect Park W 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 occupied by a mixture of owners and renters. Many of the residences in the 7th St / Prospect Park W 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.
Real estate vacancies in 7th St / Prospect Park W are 4.8%, which is lower than one will find in 67.9% of American neighborhoods. Demand for real estate in 7th St / Prospect Park W is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.
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 72,893 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 7th St / Prospect Park W neighborhood is one of the most walkable neighborhoods in America.
In addition, one of the really unique and interesting things about the look and setting of the 7th St / Prospect Park W neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 76.4% 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 96.1% of all neighborhoods in America.
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 7th St / Prospect Park W neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 84.5% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 99.8% of the neighborhoods in the United States.
Occupations
Executives, managers and professionals make up 86.0% of the workforce in the 7th St / Prospect Park W neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 99.8% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
People
Think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the 7th St / Prospect Park W neighborhood: a neighborhood in which more "urban sophisticates" live than 99.6% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives.
In addition, some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 46.9% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 98.7% of U.S. neighborhoods, where the average American neighborhood has 13.4% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.
Also, if you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 1.4% of America's neighborhoods are wealthier than the 7th St / Prospect Park W neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe.
Finally, with more than 1.9% of residents living with a same sex partner, 7th St / Prospect Park W is truly a neighborhood that stands out from the rest in this regard. In fact, exclusive analysis by NeighborhoodScout reveals that this neighborhood has a greater concentration of same sex couples than 96.6% 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 43.0% of the 7th St / Prospect Park W 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, would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the 7th St / Prospect Park W neighborhood is a fantastic option for bicycle commuters, as 6.1% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 98.8% of the neighborhoods in America.
Finally, a unique way of commuting is simply not to. And in the 7th St / Prospect Park W neighborhood, analysis shows that 33.7% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 98.4% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
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 7th St / Prospect Park W neighborhood have a highly unusual car ownership. 49.3% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.7% of U.S. neighborhoods.
Diversity
Did you know that the 7th St / Prospect Park W neighborhood has more Ukrainian and Canadian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.7% of this neighborhood's residents have Ukrainian ancestry and 1.9% have Canadian ancestry.
7th St / Prospect Park W is also pretty special linguistically. Significantly, 4.0% of its residents five years old and above primarily speak German/Yiddish at home. While this may seem like a small percentage, it is higher than 98.7% 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 7th St / Prospect Park W 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 98.6% of the neighborhoods in America. In addition, 2.9% 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 72.0% of America'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 7th St / Prospect Park W neighborhood, 86.0% 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 5.7% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (5.0%), and 3.3% 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 7th St / Prospect Park W neighborhood is English, spoken by 70.7% of households. Other important languages spoken here include Spanish, German/Yiddish and French.
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 7th St / Prospect Park W neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Asian (16.8%). There are also a number of people of English ancestry (10.8%), and residents who report Irish roots (9.9%), and some of the residents are also of Italian ancestry (9.1%), along with some German ancestry residents (8.5%), among others. In addition, 25.2% of the residents of this neighborhood were born in another country.
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 7th St / Prospect Park W neighborhood spend between 15 and 30 minutes commuting one-way to work (33.5% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (43.0%) take the train to get to work. In addition, quite a number also bicycle to get to work (6.1%) and 6.1% of residents also drive alone in a private automobile 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.
