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Real Estate Prices & Overview

54th St / 37th Ave median real estate price is $1,104,540, which is more expensive than 81.6% of the neighborhoods in New York and 94.0% of the neighborhoods in the U.S.

The average rental price in 54th St / 37th Ave is currently $3,609, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 70.6% of the neighborhoods in New York.

54th St / 37th Ave is a densely urban neighborhood (based on population density) located in Queens, New York.

54th St / 37th Ave 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 54th St / 37th Ave neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

In 54th St / 37th Ave, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in 54th St / 37th Ave is very tight compared to the demand for property here.

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

With a real estate vacancy rate of only 0.0%, the 54th St / 37th Ave neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.

In addition, three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The 54th St / 37th Ave neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 33.3% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 95.6% of America'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 44.3% of the 54th St / 37th Ave 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 54th St / 37th Ave 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 18.4% of residents here. This is a higher proportion of walking commuters than we found in 97.9% of American neighborhoods. Get ready to put on your walking shoes if you move here!

Car Ownership

American households most often have a car, and regularly they have two or three. But households in the 54th St / 37th Ave neighborhood buck this trend. 28.1% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 96.9% of U.S. neighborhoods.

Diversity

Did you know that the 54th St / 37th Ave neighborhood has more South American and Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 16.6% of this neighborhood's residents have South American ancestry and 47.8% have Asian ancestry.

54th St / 37th Ave is also pretty special linguistically. Significantly, 2.8% of its residents five years old and above primarily speak Greek at home. While this may seem like a small percentage, it is higher than 99.6% of the neighborhoods in America.

Migration / Stability

The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. More residents of the 54th St / 37th Ave neighborhood live here today that also were living in this same neighborhood five years ago than is found in 96.5% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while. What is interesting to note, is that the 54th St / 37th Ave neighborhood has a greater percentage of residents born in another country (55.9%) than are found in 98.7% of all U.S. neighborhoods.

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 54th St / 37th Ave neighborhood in Queens are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 70.6% of the neighborhoods in America. In addition, 9.0% 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 53.3% 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 54th St / 37th Ave neighborhood, 38.2% 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 28.9% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (24.8%), and 8.0% 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 54th St / 37th Ave neighborhood is English, spoken by 34.8% of households. Other important languages spoken here include Spanish, Langs. of India, Chinese and Tagalog (the first language of the Philippine region).

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 54th St / 37th Ave neighborhood in Queens, NY, residents most commonly identify their ethnicity or ancestry as Asian (47.8%). There are also a number of people of South American ancestry (16.6%), and residents who report Irish roots (12.7%), and some of the residents are also of Mexican ancestry (7.7%), along with some Italian ancestry residents (6.6%), among others. In addition, 55.9% 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 54th St / 37th Ave neighborhood spend between 30 and 45 minutes commuting one-way to work (40.1% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (44.3%) 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 (18.4%) and 14.6% 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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