What do we mean by a neighborhood?
NeighborhoodScout® uses the official government designation for neighborhoods - the census tract.
Census tracts are small, relatively permanent subdivisions of a county that are defined by the U.S. Census Bureau in conjunction with local authorities all across the country to define real neighborhoods that are bounded to contain areas with homogeneous population characteristics (including economic status, lifestyle, and living conditions). Census tracts usually have 4,000 persons, but can range between 1,500 and 8,000 persons. This is the most fine-grained area for which detailed information is made available from the government, to protect the individual privacy of each of us. Because census tracts are based on population, they vary in size depending on the density of settlement. In urban areas, they are small, and in rural areas they can cover an entire small town or even a few small towns in very rural areas.
Since census tracts are subdivisions of a county, we did a spatial overlay of the census tracts onto city and town boundaries using a geographic information system to properly assign each census tract to its appropriate city or town. Then we named each census tract to the local colloquially recognized neighborhood name for that spot (e.g., Boston, MA (Dorchester). If there was not a name available, we named the census tract by the largest street intersection in the census tract (e.g., Worcester, MA (Lincoln St/Plantation St)
Why we don't use Zip Codes as neighborhoods
Zip codes were developed by the Postal Service for the purpose of delivering mail, but were never intended to define coherent neighborhoods. In addition, Zip Codes can have as many as 10 distinctly different census tracts contained within them. When distinct census tracts are blended together in a single Zip Code, the data reflects their average conditions and often gives a false sense of the area. The result is that potentially great matching neighborhoods can be missed, and erroneous matches can also be produced and delivered to you.
Using census tracts makes great matches possible, and helps people find the areas that are best for them and their families. Because we are committed to providing the highest possible quality and finding the neighborhoods that best meet your criteria, we use census tracts. And, as always, we show you the actual street map of the neighborhood so you know exactly where your best matching neighborhood is located.
What is a Condition Alert?
A condition alert is a condition in the neighborhood that triggers an alert. NeighborhoodScout contains condition alerts to highlight conditions that are extreme, whether good or bad. This helps answer crucial questions about the state of the neighborhood being evaluated, such as:
What are the risks of violent crime here?
Is the risk of home break-ins or other property crimes increasing?
Does real estate here hold its value?
Are the trends in local vacancies or unemployment concerning?
...and dozens more.
Information at a glance that you need to know to invest, appraise or finance a property.
Liberty Ave / 124th St median real estate price is $958,121, which is more expensive than 70.9% of the neighborhoods in New York and 89.3% of the neighborhoods in the U.S.
The average rental price in Liberty Ave / 124th St is currently $3,401, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 63.9% of the neighborhoods in New York.
Liberty Ave / 124th St is a densely urban neighborhood (based on population density) located in Queens, New York.
Liberty Ave / 124th St real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Liberty Ave / 124th St 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.
In Liberty Ave / 124th St, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Liberty Ave / 124th St is very tight compared to the demand for property here.
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 Liberty Ave / 124th St neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Liberty Ave / 124th St neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.
In addition, the Liberty Ave / 124th St neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 42,859 persons per square mile in the neighborhood, it is more packed with people than 98.1% of the nation's neighborhoods. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The Liberty Ave / 124th St neighborhood is among the top 5% of American neighborhoods in terms of walkability.
Furthermore, 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 Liberty Ave / 124th St 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, 47.5% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 98.2% of America's neighborhoods.
Also of note, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 67.8% of the residential real estate in the Liberty Ave / 124th St neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 98.3% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
Modes of Transportation
If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 26.2% of the Liberty Ave / 124th St neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.0% of America's neighborhoods.
Also, our research revealed that more commuters here take the bus to work (15.4% ride the bus) than 97.7% 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.
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 Liberty Ave / 124th St neighborhood has a greater percentage of residents born in another country (68.8%) than are found in 99.7% of all U.S. neighborhoods.
Diversity
Did you know that the Liberty Ave / 124th St neighborhood has more Dominican and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.0% of this neighborhood's residents have Dominican ancestry and 10.1% have South American ancestry.
Liberty Ave / 124th St is also pretty special linguistically. Significantly, 6.9% 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 98.4% 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 Liberty Ave / 124th St 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 75.2% of the neighborhoods in America. With 19.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 68.8% 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 Liberty Ave / 124th St neighborhood, 30.0% of the working population is employed in clerical, assistant, and tech support occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 26.0% of the residents employed. Other residents here are employed in executive, management, and professional occupations (23.7%), and 20.3% in sales and service jobs, from major sales accounts, to working in fast food restaurants.
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 Liberty Ave / 124th St neighborhood is English, spoken by 56.6% of households. Other important languages spoken here include Spanish and Langs. of India.
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 Liberty Ave / 124th St neighborhood in Queens, NY, residents most commonly identify their ethnicity or ancestry as Asian (20.7%). There are also a number of people of South American ancestry (10.1%), and residents who report Dominican roots (7.0%), and some of the residents are also of Haitian ancestry (2.2%), along with some Mexican ancestry residents (2.0%), among others. In addition, 68.8% 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 Liberty Ave / 124th St neighborhood spend between 45 minutes and one hour commuting one-way to work (50.0% of working residents), longer and tougher than most commutes in America.
Here most residents (32.6%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (26.2%) and 15.4% 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.
SCOUT’s patented match algorithm identifies the most similar neighborhoods to a subject location, and quantifies the similarity to the subject location. This allows analysts to identify the most similar neighborhoods in a local market area for appraisals, investments, and research.
The algorithm uses 273 neighborhood conditions, identifies the dominant dimensions underlying the conditions and calculates the similarity. This captures the true culture and character of locations, economic conditions, and trends.
The closer to 100% means the locations are nearly identical. 80% is a very good, but not excellent match, and so forth.
