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Real Estate Prices & Overview

Madison Ave / E 127th St median real estate price is $832,921, which is more expensive than 62.0% of the neighborhoods in New York and 84.6% of the neighborhoods in the U.S.

The average rental price in Madison Ave / E 127th St is currently $2,678, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 55.7% of New York neighborhoods.

Madison Ave / E 127th St is a densely urban neighborhood (based on population density) located in New York, New York.

Madison Ave / E 127th 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 renter occupied. Many of the residences in the Madison Ave / E 127th St 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.

Madison Ave / E 127th St has a 13.7% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 74.7% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

Notable & Unique Neighborhood Characteristics

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 Madison Ave / E 127th St neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Modes of Transportation

If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 74.2% of the Madison Ave / E 127th St neighborhood's commuters ride the train to and from work each day, which is more than we found in 100.0% of America's neighborhoods.

Car Ownership

We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Madison Ave / E 127th St neighborhood has a highly unusual pattern of car ownership. 80.8% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.9% of U.S. neighborhoods.

Real Estate

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 63,170 people per square mile, it is more densely populated than 99.0% 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 Madison Ave / E 127th St neighborhood is among the top 5% of American neighborhoods in terms of walkability.

In addition, renter-occupied real estate is dominant in the Madison Ave / E 127th St neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 90.2%, which is higher than 96.9% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.

Furthermore, one of the really unique and interesting things about the look and setting of the Madison Ave / E 127th St neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 79.6% 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 96.7% of all neighborhoods in America.

Also of note, the Madison Ave / E 127th 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 82.9% 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.

Diversity

Did you know that the Madison Ave / E 127th St neighborhood has more Dominican and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.1% of this neighborhood's residents have Dominican ancestry and 9.1% have Puerto Rican ancestry.

Madison Ave / E 127th St is also pretty special linguistically. Significantly, 6.2% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 99.1% of the neighborhoods in America.

The Neighbors

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 Madison Ave / E 127th St neighborhood in New York are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 82.0% of U.S. neighborhoods. With 28.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 79.4% of U.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 Madison Ave / E 127th St neighborhood, 58.9% 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 18.8% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (11.5%), and 10.8% in clerical, assistant, and tech support 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 Madison Ave / E 127th St neighborhood is English, spoken by 66.7% of households. Other important languages spoken here include Spanish and African languages.

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 Madison Ave / E 127th St neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Puerto Rican (9.1%). There are also a number of people of Polish ancestry (8.0%), and residents who report Sub-Saharan African roots (6.9%), and some of the residents are also of Dominican ancestry (4.1%), along with some Italian ancestry residents (2.4%), among others. In addition, 24.5% of the residents of this neighborhood were born in another country.

Getting to Work

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 Madison Ave / E 127th St neighborhood spend between 45 minutes and one hour commuting one-way to work (50.8% of working residents), longer and tougher than most commutes in America.

Here most residents (74.2%) 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 (5.2%) and 5.2% 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.


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