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Real Estate Prices & Overview

118th St / Liberty Ave median real estate price is $800,722, which is more expensive than 61.9% of the neighborhoods in New York and 84.7% of the neighborhoods in the U.S.

The average rental price in 118th St / Liberty Ave is currently $4,032, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 75.1% of the neighborhoods in New York.

118th St / Liberty Ave is a densely urban neighborhood (based on population density) located in Queens, New York.

118th St / Liberty Ave real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the 118th St / Liberty 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.

Real estate vacancies in 118th St / Liberty Ave are 4.8%, which is lower than one will find in 68.1% of American neighborhoods. Demand for real estate in 118th St / Liberty 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

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 Queens, the 118th St / Liberty Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

The 118th St / Liberty Ave neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 51,154 persons per square mile in the neighborhood, it is more packed with people than 98.5% 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 118th St / Liberty Ave neighborhood is one of the most walkable neighborhoods in America.

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 118th St / Liberty 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, 37.9% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 96.7% 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 118th St / Liberty Ave neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 74.2% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 99.2% of the neighborhoods in the United States.

Modes of Transportation

Our research revealed that more commuters here take the bus to work (17.9% ride the bus) than 98.2% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.

Also, in the 118th St / Liberty Ave neighborhood, 21.6% 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 97.4% of the neighborhoods in America.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the 118th St / Liberty Ave neighborhood. What is interesting to note, is that the 118th St / Liberty Ave neighborhood has a greater percentage of residents born in another country (67.6%) than are found in 99.7% of all U.S. neighborhoods.

Diversity

Did you know that the 118th St / Liberty Ave neighborhood has more Asian and Native American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 37.2% of this neighborhood's residents have Asian ancestry and 4.3% have Native American ancestry.

118th St / Liberty Ave is also pretty special linguistically. Significantly, 13.4% of its residents five years old and above primarily speak Langs. of India at home. While this may seem like a small percentage, it is higher than 99.6% of the neighborhoods in America.

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 118th St / Liberty Ave neighborhood in Queens are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 82.7% of the neighborhoods in America. With 18.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 66.2% of U.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 118th St / Liberty Ave neighborhood, 35.3% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 26.5% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (19.3%), and 18.8% 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 118th St / Liberty Ave neighborhood is English, spoken by 68.2% of households. Other important languages spoken here include Langs. of India, Spanish and Urdu (the national language of Pakistan).

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 118th St / Liberty Ave neighborhood in Queens, NY, residents most commonly identify their ethnicity or ancestry as Asian (37.2%). There are also a number of people of South American ancestry (6.2%), and residents who report Native American roots (4.3%), and some of the residents are also of Mexican ancestry (4.2%), along with some Sub-Saharan African ancestry residents (3.8%), among others. In addition, 67.6% 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 118th St / Liberty Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (48.0% of working residents), longer and tougher than most commutes in America.

Here most residents (42.7%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (21.6%) and 17.9% of residents also ride the bus for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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