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Real Estate Prices & Overview

E 98th St / Ave L median real estate price is $741,018, which is more expensive than 60.9% of the neighborhoods in New York and 84.3% of the neighborhoods in the U.S.

The average rental price in E 98th St / Ave L is currently $2,818, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 51.9% of New York neighborhoods.

E 98th St / Ave L is a densely urban neighborhood (based on population density) located in Brooklyn, New York.

E 98th St / Ave L real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and townhomes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the E 98th St / Ave L neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

Home and apartment vacancy rates are 9.4% in E 98th St / Ave L. NeighborhoodScout analysis shows that this rate is lower than 41.0% 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 E 98th St / Ave L neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

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 E 98th St / Ave L 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 68.8% of the real estate here is made up of such dwellings, which is higher than 99.7% of all U.S. neighborhoods.

In addition, the E 98th St / Ave L neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 34,074 persons per square mile in the neighborhood, it is more packed with people than 97.4% 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 E 98th St / Ave L neighborhood is one of the most walkable neighborhoods in America.

Length of Commute

Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The E 98th St / Ave L neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the E 98th St / Ave L neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 15.3% 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 98.7% of all neighborhoods 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 29.4% of the E 98th St / Ave L neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.1% of America's neighborhoods.

Also, our research revealed that more commuters here take the bus to work (13.8% ride the bus) than 96.9% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.

Diversity

Did you know that the E 98th St / Ave L neighborhood has more West Indian and Jamaican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 0.9% of this neighborhood's residents have West Indian ancestry and 25.9% have Jamaican ancestry.

E 98th St / Ave L is also pretty special linguistically. Significantly, 16.6% 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 99.6% 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 E 98th St / Ave L neighborhood. What is interesting to note, is that the E 98th St / Ave L neighborhood has a greater percentage of residents born in another country (59.7%) than are found in 99.2% 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 E 98th St / Ave L neighborhood in Brooklyn are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 68.4% of the neighborhoods in America. With 11.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 51.8% 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 E 98th St / Ave L neighborhood, 41.6% 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 20.4% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (19.3%), and 18.8% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

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 E 98th St / Ave L neighborhood is English, spoken by 66.3% of households. Other important languages spoken here include French and Chinese.

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the E 98th St / Ave L neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Jamaican (25.9%). There are also a number of people of Haitian ancestry (11.4%), and residents who report Sub-Saharan African roots (8.1%), and some of the residents are also of Asian ancestry (5.9%), along with some Puerto Rican ancestry residents (5.6%), among others. In addition, 59.7% 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 E 98th St / Ave L neighborhood spend between 45 minutes and one hour commuting one-way to work (38.6% of working residents), longer and tougher than most commutes in America.

Here most residents (37.4%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (29.4%) and 13.8% of residents also ride the bus for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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