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Real Estate Prices & Overview

Kings Hwy / E 55th St median real estate price is $798,118, which is more expensive than 66.8% of the neighborhoods in New York and 86.9% of the neighborhoods in the U.S.

The average rental price in Kings Hwy / E 55th St is currently $3,127, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 43.6% of New York neighborhoods.

Kings Hwy / E 55th St is a densely urban neighborhood (based on population density) located in Brooklyn, New York.

Kings Hwy / E 55th St real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two 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 Kings Hwy / E 55th St neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

Kings Hwy / E 55th St has a 13.3% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 73.5% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

People

Of note is NeighborhoodScout's research finding that the Kings Hwy / E 55th St neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Kings Hwy / E 55th St community truly stands out from the rest in this regard.

Modes of Transportation

In the Kings Hwy / E 55th St neighborhood, 44.1% 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 99.1% of the neighborhoods in America.

Also, more people ride the bus in this neighborhood each day to get to work than 98.1% of U.S. neighborhoods.

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 Kings Hwy / E 55th St neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 15.1% 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 98.6% of all neighborhoods in America.

Real Estate

If you love row houses and attached homes, you will probably really like the Kings Hwy / E 55th St neighborhood. The ambiance, the charm, of row houses is something special. And in sheer abundance of row houses, this neighborhood truly stands out. The real estate here has a higher proportion of row houses and attached homes than nearly any neighborhood in America. In fact, 33.5% of the residential real estate here is classified as row houses and attached homes.

In addition, 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 Kings Hwy / E 55th St neighborhood is one of the most walkable neighborhoods in America.

Diversity

Did you know that the Kings Hwy / E 55th St neighborhood has more Jamaican and African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 27.8% of this neighborhood's residents have Jamaican ancestry and 12.8% have African ancestry.

Kings Hwy / E 55th St is also pretty special linguistically. Significantly, 4.6% 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 97.3% of the neighborhoods in America.

Migration / Stability

The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. More residents of the Kings Hwy / E 55th St neighborhood live here today that also were living in this same neighborhood five years ago than is found in 98.8% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while. What is interesting to note, is that the Kings Hwy / E 55th St neighborhood has a greater percentage of residents born in another country (43.6%) than are found in 95.6% of all U.S. neighborhoods.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Kings Hwy / E 55th 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 69.2% of the neighborhoods in America. In addition, 0.0% 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 100.0% of America's neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Kings Hwy / E 55th St neighborhood, 36.8% 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 25.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (19.4%), and 18.8% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

Languages

The most common language spoken in the Kings Hwy / E 55th St neighborhood is English, spoken by 92.3% of households. Some people also speak French (4.6%).

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 Kings Hwy / E 55th St neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Jamaican (27.8%). There are also a number of people of Sub-Saharan African ancestry (13.1%), and residents who report African roots (12.8%), and some of the residents are also of Haitian ancestry (5.7%), along with some Dominican ancestry residents (2.7%), among others. In addition, 43.6% 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 Kings Hwy / E 55th St neighborhood spend between 45 minutes and one hour commuting one-way to work (56.3% of working residents), longer and tougher than most commutes in America.

Here most residents (44.1%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (32.5%) and 17.7% of residents also ride the bus 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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