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Real Estate Prices & Overview

Knickerbocker Ave / Hancock St median real estate price is $1,378,532, which is more expensive than 85.4% of the neighborhoods in New York and 95.3% of the neighborhoods in the U.S.

The average rental price in Knickerbocker Ave / Hancock St is currently $3,987, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 74.2% of the neighborhoods in New York.

Knickerbocker Ave / Hancock St is a densely urban neighborhood (based on population density) located in Brooklyn, New York.

Knickerbocker Ave / Hancock 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 Knickerbocker Ave / Hancock 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.

Knickerbocker Ave / Hancock St has a 10.7% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 64.4% 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.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Brooklyn, the Knickerbocker Ave / Hancock St neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Modes of Transportation

In the Knickerbocker Ave / Hancock St neighborhood, 58.5% 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 99.8% of the neighborhoods in America.

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 81,369 people per square mile, it is more densely populated than 99.4% 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 Knickerbocker Ave / Hancock St neighborhood is one of the most walkable neighborhoods in America.

In addition, 90.0% of the real estate in the Knickerbocker Ave / Hancock St neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

Furthermore, 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 Knickerbocker Ave / Hancock St 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 35.3% of the real estate here is made up of such dwellings, which is higher than 96.1% 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 67.4% of the residential real estate in the Knickerbocker Ave / Hancock St neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 98.1% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Car Ownership

American households most often have a car, and regularly they have two or three. But households in the Knickerbocker Ave / Hancock St neighborhood buck this trend. 65.9% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.5% of U.S. neighborhoods.

Diversity

Did you know that the Knickerbocker Ave / Hancock St neighborhood has more Dominican and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 28.7% of this neighborhood's residents have Dominican ancestry and 17.0% have Puerto Rican ancestry.

Knickerbocker Ave / Hancock St is also pretty special linguistically. Significantly, 59.7% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 95.7% of all U.S. neighborhoods.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Knickerbocker Ave / Hancock 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 66.6% of U.S. neighborhoods. With 37.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 87.2% of U.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 Knickerbocker Ave / Hancock St 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 26.3% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (22.4%), and 13.2% 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 Knickerbocker Ave / Hancock St neighborhood is Spanish, spoken by 59.7% of households. Other important languages spoken here include English and Italian.

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 Knickerbocker Ave / Hancock St neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Dominican (28.7%). There are also a number of people of Puerto Rican ancestry (17.0%), and residents who report Sub-Saharan African roots (7.6%), and some of the residents are also of African ancestry (7.2%), along with some Mexican ancestry residents (6.0%), among others. In addition, 33.0% 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 Knickerbocker Ave / Hancock St neighborhood spend between 45 minutes and one hour commuting one-way to work (47.2% of working residents), longer and tougher than most commutes in America.

Here most residents (58.5%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (11.5%) . 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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