Lake St / Ave U median real estate price is $1,226,431, which is more expensive than 81.6% of the neighborhoods in New York and 93.8% of the neighborhoods in the U.S.
The average rental price in Lake St / Ave U is currently $3,171, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 46.8% of New York neighborhoods.
Lake St / Ave U is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
Lake St / Ave U real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Lake St / Ave U 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.
Lake St / Ave U has a 12.8% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 72.1% 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.
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.
Real Estate
The Lake St / Ave U neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 44,259 persons per square mile in the neighborhood, it is more packed with people than 98.2% of the nation'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 Lake St / Ave U neighborhood is one of the most walkable neighborhoods in America.
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 Lake St / Ave U 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, 61.6% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 99.3% of America's neighborhoods.
Furthermore, 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 66.3% of the residential real estate in the Lake St / Ave U neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 97.9% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
Modes of Transportation
If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 44.5% of the Lake St / Ave U 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.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the Lake St / Ave U neighborhood buck this trend. 30.4% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.2% of U.S. neighborhoods.
Length of Commute
Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the Lake St / Ave U neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 11.9% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 97.1% of all neighborhoods in America.
Diversity
Did you know that the Lake St / Ave U neighborhood has more Asian and Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 49.0% of this neighborhood's residents have Asian ancestry and 3.8% have Arab ancestry.
Lake St / Ave U is also pretty special linguistically. Significantly, 36.9% of its residents five years old and above primarily speak Chinese at home. While this may seem like a small percentage, it is higher than 99.8% 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. What is interesting to note, is that the Lake St / Ave U neighborhood has a greater percentage of residents born in another country (55.3%) than are found in 98.6% of all U.S. neighborhoods.
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 Lake St / Ave U 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 71.1% of U.S. neighborhoods. With 24.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 74.8% 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 Lake St / Ave U neighborhood, 34.5% of the working population is employed in clerical, assistant, and tech support 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 27.4% of the residents employed. Other residents here are employed in executive, management, and professional occupations (22.5%), and 15.5% 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 Lake St / Ave U neighborhood is Chinese, spoken by 36.9% of households. Other important languages spoken here include English, Spanish, Italian and Vietnamese.
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 Lake St / Ave U neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Asian (49.0%). There are also a number of people of Italian ancestry (12.8%), and residents who report Mexican roots (5.9%), and some of the residents are also of Puerto Rican ancestry (4.0%), along with some Arab ancestry residents (3.8%), among others. In addition, 55.3% 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 Lake St / Ave U neighborhood spend between 45 minutes and one hour commuting one-way to work (51.4% of working residents), longer and tougher than most commutes in America.
Here most residents (44.5%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (29.1%) and 8.0% of residents also carpool with coworkers, friends, or neighbors 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.
