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Real Estate Prices & Overview

Melville Southeast median real estate price is $1,307,170, which is more expensive than 87.8% of the neighborhoods in New York and 96.2% of the neighborhoods in the U.S.

The average rental price in Melville Southeast is currently $5,033, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 91.5% 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 small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the Melville Southeast neighborhood are established but not old, having been built between 1970 and 1999. 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.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

Real Estate

Owner-occupied real estate dominates the Melville Southeast neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 95.7% of neighborhoods in America. With a real estate vacancy rate of only 0.0%, the Melville Southeast neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.

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 99.5% 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.

People

If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 1.4% of America's neighborhoods are wealthier than the Melville Southeast neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. 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 99.2% 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 39.5% 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 96.9% 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.

Finally, astoundingly, NeighborhoodScout's research reveals that this single neighborhood has a higher concentration of married couples living here than 95.0% of all U.S. neighborhoods. Whether they have school-aged children or not, married couples are the rule in the Melville Southeast neighborhood. If you are a married couple, you may find many people here with a similar lifestyle, and perhaps common interests. But if you are single, you might not find many other singles here.

Modes of Transportation

In the Melville Southeast neighborhood, 13.0% 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 96.0% of the neighborhoods in America.

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 Melville Southeast neighborhood have a highly unusual car ownership. Residents of this neighborhood must really love automobiles. NeighborhoodScout's Analysis reveals that 33.3% of the households here have four, five, or more cars. That is more cars per household than in 95.1% of the neighborhoods in the nation.

Diversity

Did you know that the Melville Southeast neighborhood has more Eastern European and Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 15.3% of this neighborhood's residents have Eastern European ancestry and 4.1% have Greek 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.

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 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 98.6% 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, 62.1% 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 19.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (12.1%), and 5.4% in government jobs, whether they are in local, state, or federal positions.

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 Melville Southeast neighborhood is English, spoken by 90.4% of households. Other important languages spoken here include Urdu (the national language of Pakistan), Greek, Langs. of India and French.

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 Melville Southeast neighborhood in Melville, NY, residents most commonly identify their ethnicity or ancestry as Eastern European (15.3%). There are also a number of people of Italian ancestry (11.5%), and residents who report German roots (4.7%), and some of the residents are also of Greek ancestry (4.1%), along with some British ancestry residents (3.7%), among others.

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 Melville Southeast neighborhood spend between 15 and 30 minutes commuting one-way to work (50.7% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (67.1%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (13.0%) . 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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