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Real Estate Prices & Overview

Battery Park City median real estate price is $3,049,769, which is more expensive than 98.5% of the neighborhoods in New York and 99.7% of the neighborhoods in the U.S.

The average rental price in Battery Park City is currently $6,950, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 99.4% of the neighborhoods in New York.

Battery Park City is a densely urban neighborhood (based on population density) located in New York, New York.

Battery Park City 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 renter occupied. Many of the residences in the Battery Park City neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Battery Park City has a 11.5% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 66.1% 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

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.

Real Estate

The real estate in the Battery Park City 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, 99.2% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.8% of American neighborhoods.

In addition, the Battery Park City neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 61,051 persons per square mile in the neighborhood, it is more packed with people than 98.9% of the nation's neighborhoods.

Furthermore, renter-occupied real estate is dominant in the Battery Park City neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 90.5%, 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.

Also of note, the Battery Park City 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 86.0% 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.

People

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 Battery Park City 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.

In addition, some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 46.9% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 98.8% of U.S. neighborhoods, where the average American neighborhood has 13.1% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.

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 Battery Park City neighborhood have a highly unusual car ownership. 62.6% 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.

Modes of Transportation

If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 33.0% of the Battery Park City neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.2% of America's neighborhoods.

Also, more people in Battery Park City choose to walk to work each day (19.1%) 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.

Occupations

Executives, managers and professionals make up 73.6% of the workforce in the Battery Park City neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 97.4% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

Diversity

Did you know that the Battery Park City neighborhood has more Eastern European and Brazilian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.3% of this neighborhood's residents have Eastern European ancestry and 2.3% have Brazilian ancestry.

Battery Park City is also pretty special linguistically. Significantly, 4.1% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 98.4% 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 Battery Park City 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. With 12.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 53.2% of U.S. neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Battery Park City neighborhood, 73.6% 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 16.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.3%).

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 Battery Park City neighborhood is English, spoken by 79.4% of households. Other important languages spoken here include Korean, Chinese and Langs. of India.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Battery Park City neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Asian (15.5%). There are also a number of people of English ancestry (8.2%), and residents who report Italian roots (7.6%), and some of the residents are also of German ancestry (7.3%), along with some Irish ancestry residents (6.4%), among others. In addition, 19.7% of the residents of this neighborhood were born in another country.

Getting to Work

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 Battery Park City neighborhood spend between 30 and 45 minutes commuting one-way to work (36.1% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (33.0%) 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 (19.1%) and 17.6% of residents also carpool with coworkers, friends, or neighbors 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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