W 40th St / 9th Ave median real estate price is $2,231,837, which is more expensive than 95.5% of the neighborhoods in New York and 98.7% of the neighborhoods in the U.S.
The average rental price in W 40th St / 9th Ave is currently $6,062, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 96.5% of the neighborhoods in New York.
W 40th St / 9th Ave is a densely urban neighborhood (based on population density) located in New York, New York.
W 40th St / 9th 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 W 40th St / 9th Ave neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.
Vacant apartments or homes are a major fact of life in W 40th St / 9th Ave. The current real estate vacancy rate here is 22.6%. This is higher than the rate of vacancies in 90.5% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.
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 New York, the W 40th St / 9th Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
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 W 40th St / 9th Ave neighborhood have a highly unusual car ownership. 93.5% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 100.0% of U.S. neighborhoods.
More people in W 40th St / 9th Ave choose to walk to work each day (38.0%) 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.
Also, in the W 40th St / 9th Ave neighborhood, 32.7% 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 98.5% of the neighborhoods in America.
Finally, if your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 3.8% of residents in the W 40th St / 9th Ave neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 97.0% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.
W 40th St / 9th Ave has the amazing distinction of housing more same sex couples living together than 98.9% of neighborhoods in the U.S. If you are seeking such a neighborhood, NeighborhoodScout's analysis shows that this is one place that you should consider.
In addition, of note, 55.9% of the children in this area live in poverty; an extraordinarily high percentage compared to other neighborhoods in the nation. In a nation where approximately one in four children grows up in poverty, this neighborhood stands out for the depth of the problem manifested here.
Also, if you're looking for an active nightlife with lots of opportunities to flirt and find romance, then you probably won't have to go too far from the W 40th St / 9th Ave neighborhood to find it. Only 4.5% of the neighborhoods in the country have a larger proportion of young, single professionals. The nightlife may not be reminiscent of a "Sex and the City" episode, but the people who live here find friendship, romance, fun, and socializing readily available. In addition to being an excellent choice for young, single professionals, this neighborhood is also a very good choice for urban sophisticates.
Finally, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 73.5% of the adults living in the W 40th St / 9th Ave neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 95.2% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
The W 40th St / 9th Ave neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 56,980 persons per square mile in the neighborhood, it is more packed with people than 98.7% 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 W 40th St / 9th Ave neighborhood is one of the most walkable neighborhoods in America.
In addition, the W 40th St / 9th Ave neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 93.6% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
Furthermore, one of the really unique and interesting things about the look and setting of the W 40th St / 9th Ave neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 89.7% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 98.2% of all neighborhoods in America.
Also of note, renter-occupied real estate is dominant in the W 40th St / 9th Ave neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 90.1%, which is higher than 96.8% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.
Finally, homes built from 2000 through today make up a higher proportion of the W 40th St / 9th Ave neighborhood's real estate landscape than 95.1% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 68.2% of the residential real estate here is classified as newer.
Did you know that the W 40th St / 9th Ave neighborhood has more Belgian and Native American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.5% of this neighborhood's residents have Belgian ancestry and 4.3% have Native American ancestry.
W 40th St / 9th Ave is also pretty special linguistically. Significantly, 5.5% of its residents five years old and above primarily speak German/Yiddish at home. While this may seem like a small percentage, it is higher than 99.2% of the neighborhoods in America.
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. In the W 40th St / 9th Ave neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 95.4% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas. What is also interesting to note, is that the W 40th St / 9th Ave neighborhood has a greater percentage of residents born in another country (44.3%) than are found in 95.7% 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 W 40th St / 9th Ave neighborhood in New York are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 88.0% of the neighborhoods in America. With 55.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 96.0% of U.S. neighborhoods.
The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.
In the W 40th St / 9th Ave neighborhood, 64.3% 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 31.3% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (8.9%), and 2.9% 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 W 40th St / 9th Ave neighborhood is English, spoken by 53.6% of households. Other important languages spoken here include Spanish, Chinese, German/Yiddish and French.
Ethnicity / Ancestry
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the W 40th St / 9th Ave neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Asian (20.1%). There are also a number of people of Italian ancestry (8.9%), and residents who report German roots (7.0%), and some of the residents are also of South American ancestry (5.3%), along with some Native American ancestry residents (4.3%), among others. In addition, 44.3% 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 W 40th St / 9th Ave neighborhood spend between 15 and 30 minutes commuting one-way to work (51.6% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (38.0%) hop out the door and walk to work to get to work. In addition, quite a number also take the train to get to work (32.7%) . This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
