Borough Park median real estate price is $2,253,218, which is more expensive than 94.1% of the neighborhoods in New York and 98.2% of the neighborhoods in the U.S.
The average rental price in Borough Park is currently $2,999, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 48.3% of New York neighborhoods.
Borough Park is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
Borough Park 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 Borough Park 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.
Borough Park has a 15.7% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 79.4% 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.
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.
Modes of Transportation
More people in Borough Park choose to walk to work each day (44.9%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Also, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 12.5% of the Borough Park neighborhood's commuters ride the train to and from work each day, which is more than we found in 95.8% of America'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 90,353 people per square mile, it is more densely populated than 99.5% 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 Borough Park neighborhood is one of the most walkable neighborhoods in America.
In addition, corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the Borough Park neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 34.8% of the real estate here is made up of such dwellings, which is higher than 96.0% of all U.S. neighborhoods.
Furthermore, renter-occupied real estate is dominant in the Borough Park neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 86.4%, which is higher than 95.8% 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.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the Borough Park neighborhood buck this trend. 48.9% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.7% of U.S. neighborhoods.
People
Priests and therapists would like to think they know the secrets to a truly successful marriage, but according to NeighborhoodScout's research, the folks of the Borough Park neighborhood may actually hold the key. 73.0% of its residents are married, which is a higher percentage than is found in 98.2% of the neighborhoods in America.
In addition, one of the really interesting characteristics about the Borough Park neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 2.1% of college-friendly places to live in the state of New York.
Also, the Borough Park neighborhood stands out for having an average per capita income lower than 96.1% of the neighborhoods in the United States.
Diversity
Did you know that the Borough Park neighborhood has more Hungarian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.9% of this neighborhood's residents have Hungarian ancestry.
Borough Park is also pretty special linguistically. Significantly, 70.1% of its residents five years old and above primarily speak German/Yiddish at home. This is a higher percentage than 100.0% of all U.S. neighborhoods.
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 Borough Park neighborhood in Brooklyn are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 96.1% of U.S. neighborhoods. With 51.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 94.5% of U.S. neighborhoods.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the Borough Park neighborhood, 46.3% 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 30.3% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (19.9%), and 3.5% 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 Borough Park neighborhood is German/Yiddish, spoken by 70.1% of households. Other important languages spoken here include English, Spanish and Polish.
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 Borough Park neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Polish (9.4%). There are also a number of people of Hungarian ancestry (5.9%), and residents who report Russian roots (2.0%). In addition, 15.3% 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 Borough Park neighborhood spend between 15 and 30 minutes commuting one-way to work (35.3% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (44.9%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (18.3%) and 12.5% of residents also take the train 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.
