Lafayette St / E 8th St median real estate price is $2,585,420, which is more expensive than 96.5% of the neighborhoods in New York and 99.0% of the neighborhoods in the U.S.
The average rental price in Lafayette St / E 8th St is currently $6,375, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 98.6% of the neighborhoods in New York.
Lafayette St / E 8th St is a densely urban neighborhood (based on population density) located in New York, New York.
Lafayette St / E 8th St 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 Lafayette St / E 8th St 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 Lafayette St / E 8th St. The current real estate vacancy rate here is 17.6%. This is higher than the rate of vacancies in 84.1% 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.
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 Lafayette St / E 8th St neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 1.2% of America's neighborhoods are wealthier than the Lafayette St / E 8th St neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. As one would expect in a considerably wealthy neighborhood such as this, Lafayette St / E 8th St 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 89.2% of the adults living in the Lafayette St / E 8th St 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, 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 Lafayette St / E 8th St neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 98.2% 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 Lafayette St / E 8th St neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for young, single professionals and highly educated executives.
One of the really unique and interesting things about the look and setting of the Lafayette St / E 8th St neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 96.5% 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 99.3% of all neighborhoods in America.
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 71,865 people per square mile, it is more densely populated than 99.2% of America'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 Lafayette St / E 8th St neighborhood is among the top 5% of American neighborhoods in terms of walkability.
Furthermore, the Lafayette St / E 8th St 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 88.7% 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.
American households most often have a car, and regularly they have two or three. But households in the Lafayette St / E 8th St neighborhood buck this trend. 56.1% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.0% of U.S. neighborhoods.
In the Lafayette St / E 8th St neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 38.0% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 98.5% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
Also, in the Lafayette St / E 8th St neighborhood, 31.5% 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 98.4% of the neighborhoods in America.
Finally, more people in Lafayette St / E 8th St choose to walk to work each day (16.7%) 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.
The Lafayette St / E 8th St neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 96.9% of the neighborhoods in America. In fact, 73.8% 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.
Did you know that the Lafayette St / E 8th St neighborhood has more Russian and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 12.3% of this neighborhood's residents have Russian ancestry and 4.5% have Eastern European ancestry.
Lafayette St / E 8th St is also pretty special linguistically. Significantly, 0.6% 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 96.0% 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 Lafayette St / E 8th St 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 98.8% 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.
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 Lafayette St / E 8th St neighborhood, 73.8% 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 15.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.4%).
Languages
The most common language spoken in the Lafayette St / E 8th St neighborhood is English, spoken by 88.1% of households. Some people also speak Spanish (2.1%).
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 Lafayette St / E 8th St neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Russian (12.3%). There are also a number of people of German ancestry (11.7%), and residents who report Italian roots (11.5%), and some of the residents are also of Irish ancestry (8.1%), along with some Asian ancestry residents (8.0%), among others. In addition, 11.1% 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 Lafayette St / E 8th St neighborhood spend between 15 and 30 minutes commuting one-way to work (55.3% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (31.5%) 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 (16.7%) and 5.9% of residents also drive alone in a private automobile 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.
