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Real Estate Prices & Overview

E 49th St / Ave M median real estate price is $890,032, which is more expensive than 72.3% of the neighborhoods in New York and 89.9% of the neighborhoods in the U.S.

The average rental price in E 49th St / Ave M is currently $3,250, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 60.4% of the neighborhoods in New York.

E 49th St / Ave M is a densely urban neighborhood (based on population density) located in Brooklyn, New York.

E 49th St / Ave M real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) small apartment buildings and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the E 49th St / Ave M neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

In E 49th St / Ave M, the current vacancy rate is 2.1%, which is a lower rate of vacancies than 85.7% of all neighborhoods in the U.S. This means that the housing supply in E 49th St / Ave M is very tight compared to the demand for property here.

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 49th St / Ave M neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

In a nation where 1 out of every 4 children lives in poverty, the E 49th St / Ave M neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, one of the really interesting characteristics about the E 49th St / Ave M neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 0.5% of college-friendly places to live in the state of New York.

Also, neighborhoodScout's analysis shows that the E 49th St / Ave M neighborhood has a greater concentration of residents currently enrolled in college than 95.7% of the neighborhoods in the U.S. With 11.7% of the population here attending college, this is very much a college-focused neighborhood.

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 49th St / Ave M 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 49th St / Ave M neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 21.9% 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 99.7% of all neighborhoods in America.

Modes of Transportation

In the E 49th St / Ave M neighborhood, 45.0% 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.

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 49th St / Ave M 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 43.1% of the real estate here is made up of such dwellings, which is higher than 97.6% of all U.S. neighborhoods.

In addition, if you like crowded places, then you will probably enjoy the the E 49th St / Ave M neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 95.2% of neighborhoods in the U.S., with 21,331 people per square mile living here. 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 49th St / Ave M neighborhood is one of the most walkable neighborhoods in America.

Diversity

Did you know that the E 49th St / Ave M neighborhood has more Haitian and Jamaican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 10.1% of this neighborhood's residents have Haitian ancestry and 11.2% have Jamaican ancestry.

E 49th St / Ave M is also pretty special linguistically. Significantly, 4.5% of its residents five years old and above primarily speak Urdu, which is the national language of Pakistan, at home. While this may seem like a small percentage, it is higher than 99.7% 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 E 49th St / Ave M neighborhood in Brooklyn are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 59.0% 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.

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 E 49th St / Ave M neighborhood, 60.8% 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 14.2% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (12.5%), and 12.4% in clerical, assistant, and tech support 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 E 49th St / Ave M neighborhood is English, spoken by 58.1% of households. Other important languages spoken here include Spanish, French, Chinese and Urdu (the national language of Pakistan).

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 E 49th St / Ave M neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Mexican (14.6%). There are also a number of people of Asian ancestry (12.5%), and residents who report Jamaican roots (11.2%), and some of the residents are also of Haitian ancestry (10.1%), along with some Puerto Rican ancestry residents (9.3%), among others. In addition, 40.4% 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 E 49th St / Ave M neighborhood spend between 45 minutes and one hour commuting one-way to work (33.9% of working residents), longer and tougher than most commutes in America.

Here most residents (45.0%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (38.1%) and 6.4% of residents also carpool with coworkers, friends, or neighbors 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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