Lower East Side median real estate price is $1,215,875, which is more expensive than 85.5% of the neighborhoods in New York and 95.4% of the neighborhoods in the U.S.
The average rental price in Lower East Side is currently $2,257, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 64.0% of New York neighborhoods.
Lower East Side is a densely urban neighborhood (based on population density) located in New York, New York.
Lower East Side 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 owner occupied. Many of the residences in the Lower East Side neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
Lower East Side has a 9.7% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 60.5% of American neighborhoods). A relatively large percentage of housing here is seasonally occupied (7.1%), which can occur in some markets dominated by colleges or vacation homes. If you live here year round, you will find many of the homes or apartments are empty for all or a portion of the year.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in New York, the Lower East Side neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
Most neighborhoods have a mixture of ages of homes in them, from new to old, but this neighborhood stands out due to its concentration of residential real estate built in one time frame: from 1940 through 1969, generally considered older, well-established homes. This was a busy time in America for home construction. After the end of World War II, as GIs came home, bought newly built homes on the edges of cities with the help of the GI Bill, and began their families. This housing era generally coincides with the 'Baby Boom' generation (1945 - 1964), and many baby boomers grew up in homes built in this era. But what is so interesting about the Lower East Side neighborhood, is that an incredible 93.9% of the homes here were built in this era. So when you walk its streets or drive through, this neighborhood has a look and feel that harkens to that era in American life, a very important slice of Americana.
In addition, what you'll find when you visit or move to this neighborhood is one of the most crowded neighborhoods in all of America. With an incredible 98,137 people per square mile, it is more densely populated than 99.6% of America's neighborhoods.
Furthermore, the real estate in the Lower East Side 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, 95.6% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.1% of American neighborhoods.
Also of note, the Lower East Side 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 86.7% 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.
Modes of Transportation
In the Lower East Side neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 28.7% of residents here. This is a higher proportion of walking commuters than we found in 99.0% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, in the Lower East Side neighborhood, 43.4% 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 99.0% 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 Lower East Side neighborhood have a highly unusual car ownership. 45.8% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.5% of U.S. neighborhoods.
Occupations
The Lower East Side neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 96.1% of the neighborhoods in America. In fact, 71.2% 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.
Diversity
Did you know that the Lower East Side neighborhood has more Eastern European and Ukrainian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.5% of this neighborhood's residents have Eastern European ancestry and 4.8% have Ukrainian ancestry.
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 Lower East Side neighborhood in New York are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 68.5% of the neighborhoods in America. In addition, 4.3% 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 66.9% of America's neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the Lower East Side neighborhood, 71.2% 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 13.7% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (11.3%), and 3.9% in manufacturing and laborer occupations.
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 Lower East Side neighborhood is English, spoken by 84.9% of households. Other important languages spoken here include Spanish and Chinese.
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 Lower East Side neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Asian (7.9%). There are also a number of people of Russian ancestry (7.0%), and residents who report Eastern European roots (6.5%), and some of the residents are also of Puerto Rican ancestry (6.5%), along with some Italian ancestry residents (6.4%), among others. In addition, 14.3% 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 Lower East Side neighborhood spend between 30 and 45 minutes commuting one-way to work (41.4% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (43.4%) 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 (28.7%) and 5.1% of residents also ride the bus for their daily commute. 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.
