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Real Estate Prices & Overview

Putnam Ave / Patchen Ave median real estate price is $3,200,667, which is more expensive than 96.4% of the neighborhoods in New York and 99.0% of the neighborhoods in the U.S.

The average rental price in Putnam Ave / Patchen Ave is currently $3,387, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 64.4% of the neighborhoods in New York.

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

Putnam Ave / Patchen Ave real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the Putnam Ave / Patchen Ave 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.

Putnam Ave / Patchen Ave has a 11.1% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 66.1% 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 Putnam Ave / Patchen Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

The Putnam Ave / Patchen Ave neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 58,928 persons per square mile in the neighborhood, it is more packed with people than 98.8% 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 Putnam Ave / Patchen Ave neighborhood is one of the most walkable neighborhoods in America.

In addition, 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 Putnam Ave / Patchen Ave 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, 51.7% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 98.6% of America's neighborhoods.

Furthermore, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 69.8% of the residential real estate in the Putnam Ave / Patchen Ave neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 98.5% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Modes of Transportation

If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 40.5% of the Putnam Ave / Patchen Ave 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.

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 Putnam Ave / Patchen Ave neighborhood is a fantastic option for bicycle commuters, as 3.1% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 95.9% of the neighborhoods in America.

Car Ownership

American households most often have a car, and regularly they have two or three. But households in the Putnam Ave / Patchen Ave neighborhood buck this trend. 40.4% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.1% of U.S. neighborhoods.

Diversity

Did you know that the Putnam Ave / Patchen Ave neighborhood has more African and Sub-Saharan African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 12.0% of this neighborhood's residents have African ancestry and 12.2% have Sub-Saharan African ancestry.

Putnam Ave / Patchen Ave is also pretty special linguistically. Significantly, 0.6% of its residents five years old and above primarily speak Native American languages at home. While this may seem like a small percentage, it is higher than 95.0% of the neighborhoods in America.

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 Putnam Ave / Patchen Ave 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 68.8% of the neighborhoods in America. With 43.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 91.0% of U.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 Putnam Ave / Patchen Ave neighborhood, 57.2% 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 18.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (15.2%), and 9.4% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Putnam Ave / Patchen Ave neighborhood is English, spoken by 83.2% of households. Some people also speak Spanish (5.0%).

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 Putnam Ave / Patchen Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (12.2%). There are also a number of people of African ancestry (12.0%), and residents who report Mexican roots (4.0%), and some of the residents are also of Irish ancestry (4.0%), along with some Asian ancestry residents (3.2%), among others. In addition, 19.5% 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 Putnam Ave / Patchen Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (45.5% of working residents), longer and tougher than most commutes in America.

Here most residents (40.5%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (26.1%) and 9.3% 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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