E 57th St / Lexington Ave median real estate price is $1,238,383, which is more expensive than 89.1% of the neighborhoods in New York and 96.9% of the neighborhoods in the U.S.
The average rental price in E 57th St / Lexington Ave is currently $4,660, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 97.8% of the neighborhoods in New York.
E 57th St / Lexington Ave is a densely urban neighborhood (based on population density) located in New York, New York.
E 57th St / Lexington Ave real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the E 57th St / Lexington Ave neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
Vacant apartments or homes are a major fact of life in E 57th St / Lexington Ave. The current real estate vacancy rate here is 50.7%. This is higher than the rate of vacancies in 98.6% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (40.5%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.
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.
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 E 57th St / Lexington Ave neighborhood is wealthier than 97.9% 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, E 57th St / Lexington Ave also has one of the lowest ratings of child poverty in the nation.
In addition, 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 87.1% of the adults living in the E 57th St / Lexington Ave neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 99.6% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
Also, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 52.6%. This is a higher percent living alone than we found in 97.9% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.
Finally, if you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the E 57th St / Lexington Ave neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 96.8% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the E 57th St / Lexington Ave neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for college students, active retirees and young, single professionals.
The real estate in the E 57th St / Lexington Ave neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 100.0% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.9% of American neighborhoods.
In addition, despite all of the residential real estate here in the E 57th St / Lexington Ave 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 50.7%, which is higher than 98.6% of all U.S. neighborhoods.
Furthermore, the E 57th St / Lexington Ave neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 46,552 persons per square mile in the neighborhood, it is more packed with people than 98.4% of the nation's neighborhoods.
Also of note, the E 57th St / Lexington Ave 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 88.2% 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.
More people in E 57th St / Lexington Ave choose to walk to work each day (52.0%) 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 E 57th St / Lexington Ave 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 96.5% of the neighborhoods in America.
The E 57th St / Lexington Ave neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.5% of the neighborhoods in America. In fact, 79.6% 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.
American households most often have a car, and regularly they have two or three. But households in the E 57th St / Lexington Ave neighborhood buck this trend. 67.9% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.5% of U.S. neighborhoods.
Did you know that the E 57th St / Lexington Ave neighborhood has more Eastern European and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.8% of this neighborhood's residents have Eastern European ancestry and 7.6% have Russian ancestry.
E 57th St / Lexington Ave is also pretty special linguistically. Significantly, 1.4% 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 98.6% 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 E 57th St / Lexington Ave 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 97.9% 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 E 57th St / Lexington Ave neighborhood, 79.6% 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 14.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (5.5%), and 4.9% 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 E 57th St / Lexington Ave neighborhood is English, spoken by 76.3% of households. Other important languages spoken here include Chinese and Korean.
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 E 57th St / Lexington Ave neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Asian (21.2%). There are also a number of people of Irish ancestry (7.7%), and residents who report Russian roots (7.6%), and some of the residents are also of German ancestry (7.3%), along with some Italian ancestry residents (6.7%), among others. In addition, 27.0% 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 E 57th St / Lexington Ave neighborhood spend between 15 and 30 minutes commuting one-way to work (38.1% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (52.0%) hop out the door and walk to work to get to work. In addition, quite a number also take the train to get to work (23.2%) and 7.9% of residents also ride the bus for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
Analytics built by: Location, Inc.
Raw data sources: National Agriculture Statistics Service, U.S. Department of Agriculture, Federal Housing Finance Agency, U.S. Department of Housing and Urban Development, U.S. Bureau of the Census, U.S. Geological Service, American Community Survey.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
Analytics built by: Location, Inc.
Raw data sources: American Community Survey, U.S. Bureau of the Census, U.S. Department of Education, 50 state departments of education, U.S. Bureau of Labor Statistics, Federal Bureau of Investigation, 18,000+ local law enforcement agencies, Federal Housing Finance Agency, U.S. Geological Service, National Agricultural Statistics Service.
Date(s) & Update Frequency: 2019 (latest available). Updated annually. Please note: Unemployment data updated February 2021.
Methodology: Unlike standardly available Census demographics, NeighborhoodScout uses dozens of custom models to transform 8.5 million raw demographic data elements from government sources into proprietary indices and insights…. Read more about Scout's Demographic Data
Analytics built by: Location, Inc.
Raw data sources: 18,000 local law enforcement agencies in the U.S.
Date(s) & Update Frequency: Reflects 2019 calendar year; released from FBI in Sept. 2020 (latest available). Updated annually. Where is 2020 data?
Methodology: Our nationwide meta-analysis overcomes the issues inherent in any crime database, including non-reporting and reporting errors. This is possible by associating the 9.4 million reported crimes in the U.S, including over 2 million geocoded point locations…. Read more about Scout's Crime Data
Analytics built by: Location, Inc.
Methodology: Only NeighborhoodScout gives you nationally comparable school ranks based on test scores, so you can directly compare the quality of schools in any location. Read more about Scout's School Data
There are no schools physically located in this neighborhood.
Analytics built by: Location, Inc.
Raw data sources: U.S. Department of Education, 50 state departments of education, U.S. Bureau of Labor Statistics, Dow Jones S&P, Federal Bureau of Investigation, 18,000+ local law enforcement agencies, Federal Housing Finance Agency, U.S. Bureau of the Census, American Community Survey, U.S. Department of Housing and Urban Development, U.S. Geological Service, U.S. Department of Transportation, LEHD Origin-Destination Employment Statistics, Federal Highway Administration, National Agricultural Statistics.
Methodology: Scout Vision uniquely solves for investment risk by generating Home Price Appreciation projections with unprecedented geographic granularity and predictive accuracy, for every micro-neighborhood (block group) in the U.S. Read more
|Time Period||Total Appreciation||Avg. Annual Rate||
3 Year Forecast:
2021 Q1 - 2024 Q1
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
2000 Q1 - 2020 Q4
|* 10 is highest|