Midtown Southwest median real estate price is $1,191,775, which is more expensive than 84.7% of the neighborhoods in New York and 95.2% of the neighborhoods in the U.S.
The average rental price in Midtown Southwest is currently $6,547, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 99.0% of the neighborhoods in New York.
Midtown Southwest is a densely urban neighborhood (based on population density) located in New York, New York.
Midtown Southwest real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Midtown Southwest neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.
Vacant apartments or homes are a major fact of life in Midtown Southwest. The current real estate vacancy rate here is 30.9%. This is higher than the rate of vacancies in 95.1% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
People
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 Midtown Southwest neighborhood is wealthier than 99.5% 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, Midtown Southwest also has one of the lowest ratings of child poverty in the nation.
In addition, the first thing that you'll notice if you moved to this neighborhood is that an astounding 2.9% of the households are same sex couples. According to NeighborhoodScout's analysis, this is a higher proportion of same sex households than in 99.0% of the neighborhoods in America. This is one indicator that this neighborhood is likely a gay-friendly neighborhood. So if you are looking for such a neighborhood, the Midtown Southwest neighborhood should definitely be on your list of places to consider.
Also, 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 Midtown Southwest neighborhood: a neighborhood in which more "urban sophisticates" live than 98.9% 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 young, single professionals.
Finally, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 81.6% of the adults living in the Midtown Southwest neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 98.3% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the Midtown Southwest neighborhood buck this trend. 88.1% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.9% of U.S. neighborhoods.
Occupations
Executives, managers and professionals make up 79.9% of the workforce in the Midtown Southwest neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 99.1% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Modes of Transportation
More people in Midtown Southwest choose to walk to work each day (29.0%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Also, in the Midtown Southwest neighborhood, 38.2% 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 98.7% of the neighborhoods in America.
Real Estate
One of the really unique and interesting things about the look and setting of the Midtown Southwest neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 93.3% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 98.7% of all neighborhoods in America.
In addition, the Midtown Southwest neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 92.4% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
Furthermore, if you like crowded places, then you will probably enjoy the the Midtown Southwest neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.9% of neighborhoods in the U.S., with 29,706 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 Midtown Southwest neighborhood is one of the most walkable neighborhoods in America.
Also of note, despite all of the residential real estate here in the Midtown Southwest neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 30.9%, which is higher than 95.1% of all U.S. neighborhoods.
Diversity
Did you know that the Midtown Southwest neighborhood has more Belgian and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.0% of this neighborhood's residents have Belgian ancestry and 2.8% have Eastern European ancestry.
Midtown Southwest is also pretty special linguistically. Significantly, 8.0% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 99.5% of the neighborhoods in America.
Migration / Stability
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. What is interesting to note, is that the Midtown Southwest neighborhood has a greater percentage of residents born in another country (47.0%) than are found in 96.8% of all U.S. neighborhoods.
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 Midtown Southwest neighborhood in New York 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 99.5% 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.
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 Midtown Southwest neighborhood, 79.9% 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 17.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (2.4%).
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 Midtown Southwest neighborhood is English, spoken by 61.8% of households. Other important languages spoken here include Chinese, Korean, Spanish and Langs. of India.
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 Midtown Southwest neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Asian (34.1%). There are also a number of people of Belgian ancestry (7.0%), and residents who report German roots (4.8%), and some of the residents are also of Italian ancestry (3.9%), along with some Eastern European ancestry residents (2.8%), among others. In addition, 47.0% of the residents of this neighborhood were born in another country.
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 Midtown Southwest neighborhood spend between 15 and 30 minutes commuting one-way to work (55.0% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (38.2%) take the train to get to work. In addition, quite a number also hop out the door and walk to work to get to work (29.0%) . 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.
