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Real Estate Prices & Overview

Russell Gardens median real estate price is $1,462,994, which is more expensive than 90.5% of the neighborhoods in New York and 97.2% of the neighborhoods in the U.S.

The average rental price in Russell Gardens is currently $5,800, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 95.9% of the neighborhoods in New York.

Russell Gardens is an urban neighborhood (based on population density) located in Great Neck, New York. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

Russell Gardens real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Russell Gardens neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

Real estate vacancies in Russell Gardens are 4.5%, which is lower than one will find in 69.9% of American neighborhoods. Demand for real estate in Russell Gardens 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

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 Great Neck, the Russell Gardens neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Do you like a coastal setting? If so, this neighborhood may be to your liking. The Russell Gardens neighborhood is on the ocean, a bay, or inlet. Often such coastal places have amenities and recreational activities on the waterfront that are attractive to residents and visitors alike. In addition to being coastal, Russell Gardens is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.

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 Russell Gardens neighborhood: a neighborhood in which more "urban sophisticates" live than 99.3% 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 highly educated executives and families with school-aged children.

In addition, some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 39.2% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 96.8% of U.S. neighborhoods, where the average American neighborhood has 13.4% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.

Modes of Transportation

In the Russell Gardens neighborhood, 23.2% 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 97.5% of the neighborhoods in America.

Diversity

Did you know that the Russell Gardens neighborhood has more Iranian and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 8.8% of this neighborhood's residents have Iranian ancestry and 4.9% have Eastern European ancestry.

Russell Gardens is also pretty special linguistically. Significantly, 6.4% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 99.9% 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 Russell Gardens neighborhood in Great Neck 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 93.9% of the neighborhoods in America. In addition, 2.4% 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 73.5% 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 Russell Gardens neighborhood, 68.6% 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 17.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (10.7%), and 3.7% 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 Russell Gardens neighborhood is English, spoken by 50.9% of households. Other important languages spoken here include Chinese, Korean, Persian and Spanish.

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 Russell Gardens neighborhood in Great Neck, NY, residents most commonly identify their ethnicity or ancestry as Asian (36.7%). There are also a number of people of Irania ancestry (8.8%), and residents who report Russian roots (5.2%), and some of the residents are also of Eastern European ancestry (4.9%), along with some Polish ancestry residents (4.2%), among others. In addition, 36.8% 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 Russell Gardens neighborhood spend between 45 minutes and one hour commuting one-way to work (34.4% of working residents), longer and tougher than most commutes in America.

Here most residents (48.7%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (23.2%) and 5.8% of residents also carpool with coworkers, friends, or neighbors for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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