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Real Estate Prices & Overview

Soho Southwest median real estate price is $6,026,554, which is more expensive than 99.7% of the neighborhoods in New York and 99.9% of the neighborhoods in the U.S.

The average rental price in Soho Southwest is currently $6,429, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 98.0% of the neighborhoods in New York.

Soho Southwest is a densely urban neighborhood (based on population density) located in New York, New York.

Soho Southwest 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 Soho Southwest 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 2000 and the present.

Soho Southwest has a 11.9% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 69.0% 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.

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 Soho Southwest neighborhood has a highly unusual pattern of car ownership. 82.8% 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.

People

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 91.6% of the adults living in the Soho Southwest neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 99.8% of U.S. neighborhoods. In this way, this neighborhood truly stands out.

In addition, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 59.3%. This is a higher percent living alone than we found in 98.7% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.

Also, 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 Soho Southwest neighborhood: a neighborhood in which more "urban sophisticates" live than 97.9% 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. 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.

Real Estate

The Soho Southwest neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 41,397 persons per square mile in the neighborhood, it is more packed with people than 98.0% of the nation'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 Soho Southwest neighborhood is among the top 5% of American neighborhoods in terms of walkability.

In addition, one of the really unique and interesting things about the look and setting of the Soho Southwest neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 90.2% 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 98.2% of all neighborhoods in America.

Furthermore, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 76.9% of the residential real estate in the Soho Southwest neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 99.4% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Modes of Transportation

If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 45.3% of the Soho Southwest neighborhood's commuters ride the train to and from work each day, which is more than we found in 99.1% of America's neighborhoods.

Also, if your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 6.5% of residents in the Soho Southwest neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 98.9% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Finally, in the Soho Southwest 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 17.8% of residents here. This is a higher proportion of walking commuters than we found in 97.8% of American neighborhoods. Get ready to put on your walking shoes if you move here!

Occupations

The Soho Southwest neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 98.3% of the neighborhoods in America. In fact, 76.8% 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.

Diversity

Did you know that the Soho Southwest neighborhood has more Russian and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 10.0% of this neighborhood's residents have Russian ancestry and 4.5% have Eastern European ancestry.

Soho Southwest is also pretty special linguistically. Significantly, 0.8% of its residents five years old and above primarily speak Japanese at home. While this may seem like a small percentage, it is higher than 96.7% of the neighborhoods in America.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Soho Southwest 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 93.5% of the neighborhoods in America. In addition, 7.2% 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 58.0% 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 Soho Southwest neighborhood, 76.8% 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 13.7% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (5.6%), and 3.8% 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 Soho Southwest neighborhood is English, spoken by 83.4% of households. Other important languages spoken here include Chinese, Spanish and French.

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 Soho Southwest neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as English (17.6%). There are also a number of people of Asian ancestry (13.2%), and residents who report Italian roots (11.6%), and some of the residents are also of Russian ancestry (10.0%), along with some German ancestry residents (8.3%), among others. In addition, 36.2% 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 Soho Southwest neighborhood spend between 15 and 30 minutes commuting one-way to work (68.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (45.3%) 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 (17.8%) and 6.9% 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.


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