Financial District North median real estate price is $969,617, which is more expensive than 72.0% of the neighborhoods in New York and 89.7% of the neighborhoods in the U.S.
The average rental price in Financial District North is currently $2,793, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 53.7% of New York neighborhoods.
Financial District North is a densely urban neighborhood (based on population density) located in New York, New York.
Financial District North 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 Financial District North neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.
Vacant apartments or homes are a major fact of life in Financial District North. The current real estate vacancy rate here is 19.0%. This is higher than the rate of vacancies in 86.2% 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.
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 Financial District North neighborhood have a highly unusual car ownership. 69.4% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.6% of U.S. neighborhoods.
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 Financial District North 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.
One of the really unique and interesting things about the look and setting of the Financial District North neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 94.1% 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 98.8% of all neighborhoods in America.
In addition, the Financial District North neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 59,854 persons per square mile in the neighborhood, it is more packed with people than 98.8% of the nation's neighborhoods. 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 Financial District North neighborhood is one of the most walkable neighborhoods in America.
Furthermore, the Financial District North 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 92.9% 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 Financial District North choose to walk to work each day (25.6%) 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 Financial District North neighborhood, 21.6% 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 97.6% of the neighborhoods in America.
Finally, more people ride the bus in this neighborhood each day to get to work than 95.4% of U.S. neighborhoods.
Did you know that the Financial District North neighborhood has more Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 71.5% of this neighborhood's residents have Asian ancestry.
Financial District North is also pretty special linguistically. Significantly, 46.2% of its residents five years old and above primarily speak Chinese at home. This is a higher percentage than 99.9% 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 Financial District North 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 89.3% of the neighborhoods in America. In addition, 5.9% 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 61.3% 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 Financial District North neighborhood, 68.3% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 15.4% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (15.2%), and 3.2% in government jobs, whether they are in local, state, or federal positions.
Languages
The most common language spoken in the Financial District North neighborhood is English, spoken by 52.1% of households. Some people also speak Chinese (46.2%).
Ethnicity / Ancestry
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 Financial District North neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Asian (71.5%). There are also a number of people of Italian ancestry (6.1%), and residents who report Irish roots (2.1%), and some of the residents are also of German ancestry (1.8%), along with some Swedish ancestry residents (1.7%), among others. In addition, 36.2% 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 Financial District North neighborhood spend between 45 minutes and one hour commuting one-way to work (31.2% of working residents), longer and tougher than most commutes in America.
Here most residents (25.6%) 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 (21.6%) and 10.6% 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.
