Melville Southeast median real estate price is $1,126,643, which is more expensive than 86.3% of the neighborhoods in New York and 95.6% of the neighborhoods in the U.S.
The average rental price in Melville Southeast is currently $4,993, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 93.3% of the neighborhoods in New York.
Melville Southeast is a suburban neighborhood (based on population density) located in Melville, New York.
Melville Southeast real estate is primarily made up of large (four, five or more bedroom) to medium sized (three or four 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 Melville Southeast neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1940 and 1969.
In Melville Southeast, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Melville Southeast is very tight compared to the demand for property here.
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 Melville, the Melville Southeast neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real estate in the Melville Southeast neighborhood is almost exclusively owner-occupied. NeighborhoodScout's analysis reveals that this neighborhood has a higher rate of owner-occupied housing than is found in 95.6% of U.S. neighborhoods. If you are seeking to rent, this neighborhood may not have many options, but high rates of ownership often indicate stability in a neighborhood. This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Melville Southeast neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.
In addition, one way that the Melville Southeast neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 99.4% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.
Wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Melville Southeast neighborhood is wealthier than 96.5% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood. As one would expect in a considerably wealthy neighborhood such as this, Melville Southeast also has one of the lowest ratings of child poverty in the nation.
In addition, a majority of the adults in the Melville Southeast neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for New York by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 99.0% of the neighborhoods in New York. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for urban sophisticates and families with school-aged children.
Also, 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 38.2% 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 96.6% of U.S. neighborhoods, where the average American neighborhood has 13.1% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.
We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Melville Southeast neighborhood has a highly unusual pattern of car ownership. Residents of this neighborhood must really love automobiles. NeighborhoodScout's Analysis reveals that 35.6% of the households here have four, five, or more cars. That is more cars per household than in 96.5% of the neighborhoods in the nation.
The Melville Southeast neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 95.9% of the neighborhoods in America. In fact, 70.1% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Did you know that the Melville Southeast neighborhood has more Greek and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 11.7% of this neighborhood's residents have Greek ancestry and 8.3% have Eastern European ancestry.
Melville Southeast is also pretty special linguistically. Significantly, 2.7% 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 99.5% of the neighborhoods in America.
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 Melville Southeast neighborhood in Melville 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 96.5% 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 Melville Southeast neighborhood, 70.1% 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 16.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.5%), and 6.4% in government jobs, whether they are in local, state, or federal positions.
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 Melville Southeast neighborhood is English, spoken by 83.0% of households. Other important languages spoken here include Spanish, Urdu (the national language of Pakistan), Greek and Langs. of India.
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 Melville Southeast neighborhood in Melville, NY, residents most commonly identify their ethnicity or ancestry as Greek (11.7%). There are also a number of people of Eastern European ancestry (8.3%), and residents who report Italian roots (6.9%), and some of the residents are also of Asian ancestry (4.8%), along with some Irish ancestry residents (4.2%), among others. In addition, 11.8% of the residents of this neighborhood were born in another country.
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 Melville Southeast neighborhood spend between 15 and 30 minutes commuting one-way to work (45.6% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (68.2%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (7.7%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.