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Real Estate Prices & Overview

Central Ave / Melrose St median real estate price is $1,222,481, which is more expensive than 85.6% of the neighborhoods in New York and 95.5% of the neighborhoods in the U.S.

The average rental price in Central Ave / Melrose St is currently $4,108, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 80.5% of the neighborhoods in New York.

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

Central Ave / Melrose St 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 Central Ave / Melrose St neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.

Real estate vacancies in Central Ave / Melrose St are 4.1%, which is lower than one will find in 73.1% of American neighborhoods. Demand for real estate in Central Ave / Melrose St 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.

Notable & Unique Neighborhood Characteristics

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.

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 Central Ave / Melrose St neighborhood have a highly unusual car ownership. 74.4% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.7% of U.S. neighborhoods.

Modes of Transportation

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 Central Ave / Melrose St neighborhood is a fantastic option for bicycle commuters, as 11.5% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 99.7% of the neighborhoods in America.

Also, in the Central Ave / Melrose St neighborhood, 50.1% 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 99.4% of the neighborhoods in America.

Real Estate

The Central Ave / Melrose St neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 46,693 persons per square mile in the neighborhood, it is more packed with people than 98.3% of the nation's neighborhoods. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The Central Ave / Melrose St neighborhood is among the top 5% of American neighborhoods in terms of walkability.

In addition, renter-occupied real estate is dominant in the Central Ave / Melrose St neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 86.4%, which is higher than 95.8% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.

Furthermore, one of the really unique and interesting things about the look and setting of the Central Ave / Melrose St neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 70.6% 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 95.2% of all neighborhoods in America.

Diversity

Did you know that the Central Ave / Melrose St neighborhood has more Puerto Rican and Dominican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 16.9% of this neighborhood's residents have Puerto Rican ancestry and 6.4% have Dominican ancestry.

Central Ave / Melrose St is also pretty special linguistically. Significantly, 58.8% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 95.5% 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 Central Ave / Melrose St 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 67.8% of the neighborhoods in America. With 44.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 91.5% of U.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 Central Ave / Melrose St neighborhood, 43.6% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 25.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (19.3%), and 11.9% 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 Central Ave / Melrose St neighborhood is Spanish, spoken by 58.8% of households. Other important languages spoken here include English and Polish.

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 Central Ave / Melrose St neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Mexican (32.7%). There are also a number of people of Puerto Rican ancestry (16.9%), and residents who report South American roots (8.9%), and some of the residents are also of Dominican ancestry (6.4%), along with some Italian ancestry residents (5.9%), among others. In addition, 21.5% 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 Central Ave / Melrose St neighborhood spend between 30 and 45 minutes commuting one-way to work (40.4% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (50.1%) take the train to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (18.5%) and 11.5% of residents also bicycle 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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