Midtown median real estate price is $1,875,716, which is more expensive than 93.0% of the neighborhoods in New York and 98.0% of the neighborhoods in the U.S.
The average rental price in Midtown is currently $3,869, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 74.7% of the neighborhoods in New York.
Midtown is an urban neighborhood (based on population density) located in New York, New York.
Midtown real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the Midtown neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.
Vacant apartments or homes are a major fact of life in Midtown. The current real estate vacancy rate here is 49.7%. This is higher than the rate of vacancies in 98.7% 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 Midtown neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
In a nation where 1 out of every 4 children lives in poverty, the Midtown neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
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 Midtown neighborhood have a highly unusual car ownership. 92.0% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 100.0% of U.S. neighborhoods.
The real estate in the Midtown 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, 100.0% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.9% of American neighborhoods.
In addition, the Midtown 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 97.5% 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.
Furthermore, renter-occupied real estate is dominant in the Midtown neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 88.9%, which is higher than 96.5% 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. Vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 49.7% of the residential real estate vacant, the Midtown neighborhood claims the distinction of having a higher vacancy rate than 98.7% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.
A unique way of commuting is simply not to. And in the Midtown neighborhood, analysis shows that 45.3% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 99.6% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
Also, in the Midtown 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 28.9% of residents here. This is a higher proportion of walking commuters than we found in 99.1% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Finally, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 20.5% of the Midtown neighborhood's commuters ride the train to and from work each day, which is more than we found in 97.5% of America's neighborhoods.
Did you know that the Midtown neighborhood has more Romanian and Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.9% of this neighborhood's residents have Romanian ancestry and 8.2% have Arab ancestry.
Midtown is also pretty special linguistically. Significantly, 9.0% of its residents five years old and above primarily speak Arabic at home. While this may seem like a small percentage, it is higher than 99.5% of the neighborhoods in America.
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. In the Midtown neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.3% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas. What is also interesting to note, is that the Midtown neighborhood has a greater percentage of residents born in another country (50.2%) than are found in 97.6% of all U.S. neighborhoods.
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 Midtown 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 66.8% 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.
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 Midtown neighborhood, 56.8% 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 25.8% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (17.4%).
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 Midtown neighborhood is English, spoken by 51.5% of households. Other important languages spoken here include Spanish, Arabic, Chinese and Korean.
Ethnicity / Ancestry
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the Midtown neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Asian (20.3%). There are also a number of people of Jamaican ancestry (10.2%), and residents who report Arab roots (8.2%), and some of the residents are also of Italian ancestry (8.2%), along with some Mexican ancestry residents (8.0%), among others. In addition, 50.2% 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 Midtown neighborhood spend between 15 and 30 minutes commuting one-way to work (52.9% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (28.9%) hop out the door and walk to work to get to work. In addition, quite a number also take the train to get to work (20.5%) and 5.3% of residents also ride the bus for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
