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Real Estate Prices & Overview

Park Ave / Marcy Ave median real estate price is $1,340,458, which is more expensive than 85.8% of the neighborhoods in New York and 95.5% of the neighborhoods in the U.S.

The average rental price in Park Ave / Marcy Ave is currently $1,480, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 85.8% of New York neighborhoods.

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

Park Ave / Marcy 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 townhomes. Most of the residential real estate is renter occupied. Many of the residences in the Park Ave / Marcy Ave neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

In Park Ave / Marcy Ave, the current vacancy rate is 0.4%, which is a lower rate of vacancies than 93.2% of all neighborhoods in the U.S. This means that the housing supply in Park Ave / Marcy Ave is very tight compared to the demand for property here.

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.

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 Park Ave / Marcy Ave neighborhood have a highly unusual car ownership. 74.6% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.7% of U.S. neighborhoods.

Real Estate

Most neighborhoods have a mixture of ages of homes in them, from new to old, but this neighborhood stands out due to its concentration of residential real estate built in one time frame: from 1940 through 1969, generally considered older, well-established homes. This was a busy time in America for home construction. After the end of World War II, as GIs came home, bought newly built homes on the edges of cities with the help of the GI Bill, and began their families. This housing era generally coincides with the 'Baby Boom' generation (1945 - 1964), and many baby boomers grew up in homes built in this era. But what is so interesting about the Park Ave / Marcy Ave neighborhood, is that an incredible 88.8% of the homes here were built in this era. So when you walk its streets or drive through, this neighborhood has a look and feel that harkens to that era in American life, a very important slice of Americana.

In addition, 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 89,657 people per square mile, it is more densely populated than 99.5% of America's neighborhoods.

Furthermore, the real estate in the Park Ave / Marcy 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, 96.8% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.4% of American neighborhoods.

Also of note, 95.0% of the real estate in the Park Ave / Marcy Ave neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

Modes of Transportation

In the Park Ave / Marcy Ave neighborhood, 51.8% 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 99.5% of the neighborhoods in America.

Also, more people ride the bus in this neighborhood each day to get to work than 98.6% of U.S. neighborhoods.

People

One of the unique characteristics of the Park Ave / Marcy Ave neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 99.0% of the neighborhoods in America.

Diversity

Did you know that the Park Ave / Marcy Ave neighborhood has more Dominican and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 33.1% of this neighborhood's residents have Dominican ancestry and 14.8% have Puerto Rican ancestry.

Park Ave / Marcy Ave is also pretty special linguistically. Significantly, 58.9% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 95.5% 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 Park Ave / Marcy Ave neighborhood in Brooklyn are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 99.0% of U.S. neighborhoods. With 41.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 90.0% 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 Park Ave / Marcy Ave neighborhood, 33.6% 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 30.7% of the residents employed. Other residents here are employed in executive, management, and professional occupations (23.4%), and 12.3% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Park Ave / Marcy Ave neighborhood is Spanish, spoken by 58.9% of households. Some people also speak English (38.5%).

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 Park Ave / Marcy Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Dominican (33.1%). There are also a number of people of Puerto Rican ancestry (14.8%), and residents who report South American roots (2.1%), and some of the residents are also of Jamaican ancestry (1.7%), along with some Haitian ancestry residents (1.6%), among others. In addition, 23.0% 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 Park Ave / Marcy Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (37.5% of working residents), longer and tougher than most commutes in America.

Here most residents (51.8%) take the train to get to work. In addition, quite a number also ride the bus to get to work (20.0%) and 13.7% of residents also drive alone in a private automobile 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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