Ovington Ave / 5th Ave median real estate price is $1,323,377, which is more expensive than 71.5% of the neighborhoods in New York and 83.7% of the neighborhoods in the U.S.
The average rental price in Ovington Ave / 5th Ave is currently $3,388, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 63.2% of the neighborhoods in New York.
Ovington Ave / 5th Ave is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
Ovington Ave / 5th Ave 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 Ovington Ave / 5th 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 1940 and 1969.
Home and apartment vacancy rates are 9.5% in Ovington Ave / 5th Ave. NeighborhoodScout analysis shows that this rate is lower than 40.6% of the neighborhoods in the nation, approximately near the middle range for vacancies.
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 78,493 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 Ovington Ave / 5th Ave neighborhood is one of the most walkable neighborhoods in America.
In addition, the real estate in the Ovington Ave / 5th Ave 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, 69.8% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 95.0% of American 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 Ovington Ave / 5th Ave neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 57.4% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 95.8% of the neighborhoods in the United States.
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 Ovington Ave / 5th Ave neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 17.2% 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 99.1% of all neighborhoods in America.
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 Ovington Ave / 5th Ave neighborhood have a highly unusual car ownership. 57.0% 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.
Modes of Transportation
If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 43.3% of the Ovington Ave / 5th Ave neighborhood's commuters ride the train to and from work each day, which is more than we found in 99.0% of America's neighborhoods.
Also, more people in Ovington Ave / 5th Ave choose to walk to work each day (11.7%) 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.
Diversity
Did you know that the Ovington Ave / 5th Ave neighborhood has more Arab and Brazilian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 27.2% of this neighborhood's residents have Arab ancestry and 1.7% have Brazilian ancestry.
Ovington Ave / 5th Ave is also pretty special linguistically. Significantly, 20.3% of its residents five years old and above primarily speak Arabic at home. While this may seem like a small percentage, it is higher than 99.9% 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 Ovington Ave / 5th Ave neighborhood has a greater percentage of residents born in another country (42.8%) than are found in 95.3% 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 Ovington Ave / 5th Ave neighborhood in Brooklyn are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 59.5% of the neighborhoods in America. With 11.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 52.6% 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 Ovington Ave / 5th Ave 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 manufacturing and laborer occupations, with 22.1% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (20.3%), and 11.3% 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 Ovington Ave / 5th Ave neighborhood is English, spoken by 40.1% of households. Other important languages spoken here include Spanish, Arabic and Chinese.
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 Ovington Ave / 5th Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Arab (27.2%). There are also a number of people of Asian ancestry (10.8%), and residents who report Italian roots (7.7%), and some of the residents are also of Mexican ancestry (6.6%), along with some South American ancestry residents (5.8%), among others. In addition, 42.8% 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 Ovington Ave / 5th Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (33.7% of working residents), longer and tougher than most commutes in America.
Here most residents (43.3%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (14.8%) and 11.7% 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.
