Chelsea West median real estate price is $2,617,034, which is more expensive than 97.0% of the neighborhoods in New York and 99.2% of the neighborhoods in the U.S.
The average rental price in Chelsea West is currently $6,883, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 99.0% of the neighborhoods in New York.
Chelsea West is a densely urban neighborhood (based on population density) located in New York, New York.
Chelsea West 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 Chelsea West 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 Chelsea West. The current real estate vacancy rate here is 30.9%. This is higher than the rate of vacancies in 95.1% 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 Chelsea West neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 0.5% of America's neighborhoods are wealthier than the Chelsea West neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. As one would expect in a considerably wealthy neighborhood such as this, Chelsea West also has one of the lowest ratings of child poverty in the nation.
In addition, 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 86.8% of the adults living in the Chelsea West neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 99.3% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
Also, if you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Chelsea West neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 98.2% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Chelsea West neighborhood.
Finally, chelsea West has the amazing distinction of housing more same sex couples living together than 97.5% 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.
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 Chelsea West neighborhood have a highly unusual car ownership. 71.1% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.6% of U.S. neighborhoods.
Occupations
The Chelsea West neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.4% of the neighborhoods in America. In fact, 81.8% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Modes of Transportation
A unique way of commuting is simply not to. And in the Chelsea West neighborhood, analysis shows that 38.5% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 99.4% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
Also, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 24.6% of the Chelsea West neighborhood's commuters ride the train to and from work each day, which is more than we found in 97.7% of America's neighborhoods.
Finally, if your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 4.4% of residents in the Chelsea West neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 97.6% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.
Real Estate
The real estate in the Chelsea West 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, 90.3% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.3% of American neighborhoods.
In addition, the Chelsea West 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 90.0% 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, if you like the look and ambience of new homes and newly built neighborhoods, you will love the Chelsea West neighborhood. A whopping 74.5% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 96.6% of the neighborhoods in the U.S. Everything here just feels new.
Also of note, despite all of the residential real estate here in the Chelsea West neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 30.9%, which is higher than 95.1% of all U.S. neighborhoods.
Diversity
Did you know that the Chelsea West neighborhood has more Canadian and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.6% of this neighborhood's residents have Canadian ancestry and 5.3% have Eastern European ancestry.
Chelsea West is also pretty special linguistically. Significantly, 3.6% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 98.2% of the neighborhoods in America.
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 Chelsea West 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 99.5% of the neighborhoods in America. In addition, 0.0% 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 100.0% of America'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 Chelsea West neighborhood, 81.8% 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 10.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (6.2%).
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 Chelsea West neighborhood is English, spoken by 88.1% of households. Other important languages spoken here include Spanish, Korean and Langs. of India.
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 Chelsea West neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as German (23.5%). There are also a number of people of French ancestry (16.7%), and residents who report English roots (15.1%), and some of the residents are also of Italian ancestry (13.3%), along with some Irish ancestry residents (7.7%), among others. In addition, 16.5% of the residents of this neighborhood were born in another country.
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 Chelsea West neighborhood spend between 15 and 30 minutes commuting one-way to work (58.4% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (24.6%) take the train to get to work. In addition, quite a number also hop out the door and walk to work to get to work (12.6%) and 10.5% 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.
