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Real Estate Prices & Overview

Madison St / Nostrand Ave median real estate price is $2,922,744, which is more expensive than 97.9% of the neighborhoods in New York and 99.4% of the neighborhoods in the U.S.

The average rental price in Madison St / Nostrand Ave is currently $4,088, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 78.9% of the neighborhoods in New York.

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

Madison St / Nostrand Ave 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 renter occupied. Many of the residences in the Madison St / Nostrand Ave 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 2000 and the present.

Real estate vacancies in Madison St / Nostrand Ave are 3.6%, which is lower than one will find in 74.6% of American neighborhoods. Demand for real estate in Madison St / Nostrand Ave 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

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

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 66,081 people per square mile, it is more densely populated than 99.0% of America's neighborhoods. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The Madison St / Nostrand Ave neighborhood is among the top 5% of American neighborhoods in terms of walkability.

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 Madison St / Nostrand Ave 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, 58.4% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 99.1% of America's neighborhoods.

Furthermore, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Madison St / Nostrand Ave neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 73.1% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 99.1% of the neighborhoods in the United States.

Modes of Transportation

If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 55.4% of the Madison St / Nostrand Ave neighborhood's commuters ride the train to and from work each day, which is more than we found in 99.7% of America's neighborhoods.

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 St / Nostrand Ave neighborhood have a highly unusual car ownership. 57.8% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.1% of U.S. neighborhoods.

Diversity

Did you know that the Madison St / Nostrand Ave neighborhood has more Haitian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.2% of this neighborhood's residents have Haitian ancestry.

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 Madison St / Nostrand Ave neighborhood in Brooklyn are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 67.0% of the neighborhoods in America. In addition, 8.0% 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 55.1% of America'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 Madison St / Nostrand Ave neighborhood, 59.7% 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 20.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (14.3%), and 5.8% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Madison St / Nostrand Ave neighborhood is English, spoken by 85.0% of households. Some people also speak Spanish (2.7%).

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 St / Nostrand Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as German (7.9%). There are also a number of people of Sub-Saharan African ancestry (7.7%), and residents who report English roots (6.7%), and some of the residents are also of Irish ancestry (6.0%), along with some Asian ancestry residents (5.8%), among others. In addition, 19.8% 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 Madison St / Nostrand Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (42.6% of working residents), longer and tougher than most commutes in America.

Here most residents (55.4%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (11.8%) and 5.1% of residents also ride the bus 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.


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