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Real Estate Prices & Overview

Tribeca South median real estate price is $4,103,640, which is more expensive than 99.4% of the neighborhoods in New York and 99.8% of the neighborhoods in the U.S.

The average rental price in Tribeca South is currently $6,547, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 99.0% of the neighborhoods in New York.

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

Tribeca South 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 Tribeca South neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.

Tribeca South has a 14.4% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 76.5% of American neighborhoods). A relatively large percentage of housing here is seasonally occupied (7.9%), which can occur in some markets dominated by colleges or vacation homes. If you live here year round, you will find many of the homes or apartments are empty for all or a portion of the year.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

People

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 0.5% of America's neighborhoods are wealthier than the Tribeca South 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, Tribeca South also has one of the lowest ratings of child poverty in the nation.

In addition, the rate of college educated adults in the Tribeca South neighborhood is a unique characteristic of the neighborhood. 91.7% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 34.3% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 99.8% of all U.S. neighborhoods.

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 Tribeca South neighborhood: a neighborhood in which more "urban sophisticates" live than 99.2% 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 highly educated executives and young, single professionals.

Car Ownership

American households most often have a car, and regularly they have two or three. But households in the Tribeca South neighborhood buck this trend. 74.3% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.7% 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 85,278 people per square mile, it is more densely populated than 99.4% 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 Tribeca South 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 Tribeca South 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.

Modes of Transportation

If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 45.6% of the Tribeca South 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, in the Tribeca South 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 21.5% of residents here. This is a higher proportion of walking commuters than we found in 98.4% of American neighborhoods. Get ready to put on your walking shoes if you move here!

Diversity

Did you know that the Tribeca South neighborhood has more Eastern European and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.7% of this neighborhood's residents have Eastern European ancestry and 3.8% have Russian ancestry.

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 Tribeca South 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 99.5% 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 Tribeca South neighborhood, 66.2% 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 23.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (8.5%), and 2.1% 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 Tribeca South neighborhood is English, spoken by 76.0% of households. Other important languages spoken here include Spanish and Chinese.

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 Tribeca South neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Asian (16.4%). There are also a number of people of Italian ancestry (10.7%), and residents who report Irish roots (9.9%), and some of the residents are also of German ancestry (8.6%), along with some English ancestry residents (6.6%), among others. In addition, 21.7% 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 Tribeca South neighborhood spend between 15 and 30 minutes commuting one-way to work (50.8% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (45.6%) 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 (21.5%) and 8.2% 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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