E 62nd St / Madison Ave median real estate price is $4,122,125, which is more expensive than 99.4% of the neighborhoods in New York and 99.9% of the neighborhoods in the U.S.
The average rental price in E 62nd St / Madison Ave is currently $5,922, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 96.6% of the neighborhoods in New York.
E 62nd St / Madison Ave is a densely urban neighborhood (based on population density) located in New York, New York.
E 62nd St / Madison 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 and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the E 62nd St / Madison Ave neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.
Vacant apartments or homes are a major fact of life in E 62nd St / Madison Ave. The current real estate vacancy rate here is 53.4%. This is higher than the rate of vacancies in 98.9% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (34.9%). 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 62nd St / Madison Ave neighborhood is wealthier than 99.7% 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 62nd St / Madison Ave also has one of the lowest ratings of child poverty in the nation.
In addition, if knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the E 62nd St / Madison Ave neighborhood, where 57.8% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.1% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 99.7% of the neighborhoods in America.
Also, 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 62nd St / Madison Ave neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 99.7% 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 62nd St / Madison Ave neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for active retirees and highly educated executives.
More people in E 62nd St / Madison Ave choose to walk to work each day (46.2%) 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, a unique way of commuting is simply not to. And in the E 62nd St / Madison Ave neighborhood, analysis shows that 26.0% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 97.1% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
Finally, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 11.5% of the E 62nd St / Madison Ave neighborhood's commuters ride the train to and from work each day, which is more than we found in 95.2% of America's neighborhoods.
The E 62nd St / Madison Ave neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.7% of the neighborhoods in America. In fact, 83.8% 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 62nd St / Madison Ave neighborhood buck this trend. 63.2% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.3% of U.S. neighborhoods.
Despite all of the residential real estate here in the E 62nd St / Madison 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 53.4%, which is higher than 98.9% of all U.S. neighborhoods.
In addition, the E 62nd St / Madison Ave neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 35,784 persons per square mile in the neighborhood, it is more packed with people than 97.6% of the nation's neighborhoods. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The E 62nd St / Madison Ave neighborhood is among the top 5% of American neighborhoods in terms of walkability.
Furthermore, one of the really unique and interesting things about the look and setting of the E 62nd St / Madison Ave neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 88.5% 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 97.9% of all neighborhoods in America.
Also of note, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 56.9% of the residential real estate in the E 62nd St / Madison Ave neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 95.6% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
Did you know that the E 62nd St / Madison Ave neighborhood has more Slovak and Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.6% of this neighborhood's residents have Slovak ancestry and 6.1% have Greek ancestry.
E 62nd St / Madison Ave is also pretty special linguistically. Significantly, 4.5% of its residents five years old and above primarily speak Portuguese at home. While this may seem like a small percentage, it is higher than 99.1% 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 62nd St / Madison 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 99.7% 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 E 62nd St / Madison Ave neighborhood, 83.8% 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 14.5% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (2.5%).
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 62nd St / Madison Ave neighborhood is English, spoken by 78.9% of households. Other important languages spoken here include Chinese, Portuguese and Spanish.
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the E 62nd St / Madison Ave neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Irish (16.6%). There are also a number of people of Asian ancestry (13.6%), and residents who report Italian roots (9.4%), and some of the residents are also of English ancestry (8.1%), along with some Slovak ancestry residents (6.6%), among others. In addition, 25.8% 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 E 62nd St / Madison Ave neighborhood spend under 15 minutes commuting one-way to work (40.1% of working residents), one of the shortest commutes across America.
Here most residents (46.2%) 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 (11.5%) and 11.0% of residents also carpool with coworkers, friends, or neighbors 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.