What do we mean by a neighborhood?
NeighborhoodScout® uses the official government designation for neighborhoods - the census tract.
Census tracts are small, relatively permanent subdivisions of a county that are defined by the U.S. Census Bureau in conjunction with local authorities all across the country to define real neighborhoods that are bounded to contain areas with homogeneous population characteristics (including economic status, lifestyle, and living conditions). Census tracts usually have 4,000 persons, but can range between 1,500 and 8,000 persons. This is the most fine-grained area for which detailed information is made available from the government, to protect the individual privacy of each of us. Because census tracts are based on population, they vary in size depending on the density of settlement. In urban areas, they are small, and in rural areas they can cover an entire small town or even a few small towns in very rural areas.
Since census tracts are subdivisions of a county, we did a spatial overlay of the census tracts onto city and town boundaries using a geographic information system to properly assign each census tract to its appropriate city or town. Then we named each census tract to the local colloquially recognized neighborhood name for that spot (e.g., Boston, MA (Dorchester). If there was not a name available, we named the census tract by the largest street intersection in the census tract (e.g., Worcester, MA (Lincoln St/Plantation St)
Why we don't use Zip Codes as neighborhoods
Zip codes were developed by the Postal Service for the purpose of delivering mail, but were never intended to define coherent neighborhoods. In addition, Zip Codes can have as many as 10 distinctly different census tracts contained within them. When distinct census tracts are blended together in a single Zip Code, the data reflects their average conditions and often gives a false sense of the area. The result is that potentially great matching neighborhoods can be missed, and erroneous matches can also be produced and delivered to you.
Using census tracts makes great matches possible, and helps people find the areas that are best for them and their families. Because we are committed to providing the highest possible quality and finding the neighborhoods that best meet your criteria, we use census tracts. And, as always, we show you the actual street map of the neighborhood so you know exactly where your best matching neighborhood is located.
What is a Condition Alert?
A condition alert is a condition in the neighborhood that triggers an alert. NeighborhoodScout contains condition alerts to highlight conditions that are extreme, whether good or bad. This helps answer crucial questions about the state of the neighborhood being evaluated, such as:
What are the risks of violent crime here?
Is the risk of home break-ins or other property crimes increasing?
Does real estate here hold its value?
Are the trends in local vacancies or unemployment concerning?
...and dozens more.
Information at a glance that you need to know to invest, appraise or finance a property.
Broadway / S 8th St median real estate price is $1,763,593, which is more expensive than 91.7% of the neighborhoods in New York and 97.7% of the neighborhoods in the U.S.
The average rental price in Broadway / S 8th St is currently $2,622, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 58.1% of New York neighborhoods.
Broadway / S 8th St is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
Broadway / S 8th 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 renter occupied. Many of the residences in the Broadway / S 8th St neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.
Real estate vacancies in Broadway / S 8th St are 3.8%, which is lower than one will find in 73.6% of American neighborhoods. Demand for real estate in Broadway / S 8th St is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.
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
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 77,610 people per square mile, it is more densely populated than 99.3% 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 Broadway / S 8th St neighborhood is one of the most walkable neighborhoods in America.
In addition, the real estate in the Broadway / S 8th 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, 94.5% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.9% of American neighborhoods.
Furthermore, 97.2% of the real estate in the Broadway / S 8th St neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the Broadway / S 8th St neighborhood buck this trend. 53.2% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.9% of U.S. neighborhoods.
Modes of Transportation
In the Broadway / S 8th St neighborhood, 36.8% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 98.7% of the neighborhoods in America.
Also, in the Broadway / S 8th 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 16.8% of residents here. This is a higher proportion of walking commuters than we found in 97.6% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Diversity
Did you know that the Broadway / S 8th St neighborhood has more Hungarian and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 11.3% of this neighborhood's residents have Hungarian ancestry and 4.5% have Eastern European ancestry.
Broadway / S 8th St is also pretty special linguistically. Significantly, 46.1% of its residents five years old and above primarily speak German/Yiddish at home. This is a higher percentage than 99.9% 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 Broadway / S 8th St neighborhood in Brooklyn are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 81.2% of U.S. neighborhoods. With 28.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 80.4% 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 Broadway / S 8th St neighborhood, 44.7% 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 29.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (16.5%), and 9.3% 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 Broadway / S 8th St neighborhood is German/Yiddish, spoken by 46.1% of households. Other important languages spoken here include English, Spanish and Chinese.
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 Broadway / S 8th St neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Puerto Rican (16.0%). There are also a number of people of Hungarian ancestry (11.3%), and residents who report Irish roots (5.4%), and some of the residents are also of Asian ancestry (4.8%), along with some Eastern European ancestry residents (4.5%), among others. In addition, 17.6% 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 Broadway / S 8th St neighborhood spend between 30 and 45 minutes commuting one-way to work (33.7% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (36.8%) take the train to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (17.0%) and 16.8% of residents also hop out the door and walk to work 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.
SCOUT’s patented match algorithm identifies the most similar neighborhoods to a subject location, and quantifies the similarity to the subject location. This allows analysts to identify the most similar neighborhoods in a local market area for appraisals, investments, and research.
The algorithm uses 273 neighborhood conditions, identifies the dominant dimensions underlying the conditions and calculates the similarity. This captures the true culture and character of locations, economic conditions, and trends.
The closer to 100% means the locations are nearly identical. 80% is a very good, but not excellent match, and so forth.
