Madison Ave / E 81st St median real estate price is $3,236,584, which is more expensive than 96.9% of the neighborhoods in New York and 99.1% of the neighborhoods in the U.S.
The average rental price in Madison Ave / E 81st St is currently $5,318, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 91.7% of the neighborhoods in New York.
Madison Ave / E 81st St is a densely urban neighborhood (based on population density) located in New York, New York.
Madison Ave / E 81st St 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 Madison Ave / E 81st St 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 1940 and 1969.
Vacant apartments or homes are a major fact of life in Madison Ave / E 81st St. The current real estate vacancy rate here is 37.2%. This is higher than the rate of vacancies in 97.0% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (20.2%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.
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
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 Madison Ave / E 81st St neighborhood is wealthier than 99.5% 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. As one would expect in a considerably wealthy neighborhood such as this, Madison Ave / E 81st St also has one of the lowest ratings of child poverty in the nation.
In addition, if you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Madison Ave / E 81st St neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 99.9% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Madison Ave / E 81st St neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives.
Also, 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 63.1% 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 99.9% of U.S. neighborhoods, where the average American neighborhood has 13.4% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.
Occupations
The Madison Ave / E 81st St neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.8% of the neighborhoods in America. In fact, 85.5% 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.
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 64,581 people per square mile, it is more densely populated than 99.0% of America's neighborhoods. Being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the Madison Ave / E 81st St neighborhood is one of the most walkable neighborhoods in America.
In addition, the real estate in the Madison Ave / E 81st St 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, 87.6% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 97.8% of American neighborhoods.
Furthermore, despite all of the residential real estate here in the Madison Ave / E 81st St neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 37.2%, which is higher than 97.0% of all U.S. neighborhoods.
Also of note, 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 60.5% of the residential real estate in the Madison Ave / E 81st St neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 96.6% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
Modes of Transportation
In the Madison Ave / E 81st St 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 32.7% of residents here. This is a higher proportion of walking commuters than we found in 99.3% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 17.6% of the Madison Ave / E 81st St neighborhood's commuters ride the train to and from work each day, which is more than we found in 96.9% of America's neighborhoods.
Finally, a unique way of commuting is simply not to. And in the Madison Ave / E 81st St neighborhood, analysis shows that 28.0% 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 95.7% 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.
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 Madison Ave / E 81st St neighborhood have a highly unusual car ownership. 46.3% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.5% of U.S. neighborhoods.
Diversity
Did you know that the Madison Ave / E 81st St neighborhood has more Russian and Brazilian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.9% of this neighborhood's residents have Russian ancestry and 3.2% have Brazilian ancestry.
Madison Ave / E 81st St is also pretty special linguistically. Significantly, 5.7% of its residents five years old and above primarily speak French at home. While this may seem like a small percentage, it is higher than 97.9% of the neighborhoods in America.
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 Madison Ave / E 81st St 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.
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 Madison Ave / E 81st St neighborhood, 85.5% 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 10.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (2.9%).
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 Madison Ave / E 81st St neighborhood is English, spoken by 71.8% of households. Other important languages spoken here include Spanish, French and Italian.
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 Madison Ave / E 81st St neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as English (13.5%). There are also a number of people of Asian ancestry (11.4%), and residents who report Russian roots (7.9%), and some of the residents are also of Irish ancestry (7.3%), along with some Italian ancestry residents (6.5%), among others. In addition, 30.4% 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 Madison Ave / E 81st St neighborhood spend between 15 and 30 minutes commuting one-way to work (34.5% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (32.7%) 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 (17.6%) and 7.6% of residents also carpool with coworkers, friends, or neighbors 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.
