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Real Estate Prices & Overview

Freeman St / Franklin St median real estate price is $1,789,993, which is more expensive than 85.5% of the neighborhoods in New York and 95.1% of the neighborhoods in the U.S.

The average rental price in Freeman St / Franklin St is currently $5,007, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 91.6% of the neighborhoods in New York.

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

Freeman St / Franklin 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 Freeman St / Franklin St 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 2000 and the present.

Freeman St / Franklin St has a 11.1% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 64.8% 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

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 Freeman St / Franklin St neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Modes of Transportation

If you like to ride a ferry to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 6.8% of the Freeman St / Franklin St neighborhood's commuters ride a ferry to and from work each day, which is more than we found in 99.9% 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 Freeman St / Franklin St neighborhood is a fantastic option for bicycle commuters, as 10.9% 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.

Finally, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 42.3% of the Freeman St / Franklin St neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.8% of America's neighborhoods.

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 71,028 people per square mile, it is more densely populated than 99.2% of America'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 Freeman St / Franklin St neighborhood is among the top 5% of American neighborhoods in terms of walkability.

In addition, renter-occupied real estate is dominant in the Freeman St / Franklin St neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 86.6%, 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, three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The Freeman St / Franklin St neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 31.5% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 95.1% of America's neighborhoods.

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 Freeman St / Franklin St neighborhood have a highly unusual car ownership. 45.6% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.5% of U.S. neighborhoods.

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 Freeman St / Franklin St neighborhood: a neighborhood in which more "urban sophisticates" live than 96.2% 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 young, single professionals.

Diversity

Did you know that the Freeman St / Franklin St neighborhood has more Greek and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.7% of this neighborhood's residents have Greek ancestry and 3.1% have Eastern European ancestry.

Freeman St / Franklin St is also pretty special linguistically. Significantly, 1.6% of its residents five years old and above primarily speak Greek at home. While this may seem like a small percentage, it is higher than 98.5% of the neighborhoods in America.

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 Freeman St / Franklin St 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 89.7% of the neighborhoods in America. With 28.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 78.8% 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 Freeman St / Franklin St neighborhood, 64.5% 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 23.7% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (6.9%), and 5.0% 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 Freeman St / Franklin St neighborhood is English, spoken by 61.3% of households. Other important languages spoken here include Spanish and Polish.

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 Freeman St / Franklin St neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Puerto Rican (14.4%). There are also a number of people of Polish ancestry (12.3%), and residents who report Irish roots (11.3%), and some of the residents are also of German ancestry (10.7%), along with some Italian ancestry residents (6.7%), among others. In addition, 23.1% 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 Freeman St / Franklin St neighborhood spend between 30 and 45 minutes commuting one-way to work (45.3% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (42.3%) take the train to get to work. In addition, quite a number also bicycle to get to work (10.9%) and 8.6% 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.


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