NE 42nd St / University Way NE median real estate price is $1,512,613, which is more expensive than 95.8% of the neighborhoods in Washington and 96.7% of the neighborhoods in the U.S.
The average rental price in NE 42nd St / University Way NE is currently $2,803, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 43.0% of Washington neighborhoods.
NE 42nd St / University Way NE is a densely urban neighborhood (based on population density) located in Seattle, Washington.
NE 42nd St / University Way NE 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 single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the NE 42nd St / University Way NE neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 and the present.
Vacant apartments or homes are a major fact of life in NE 42nd St / University Way NE. The current real estate vacancy rate here is 22.9%. This is higher than the rate of vacancies in 90.1% 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 Seattle, the NE 42nd St / University Way NE neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
The NE 42nd St / University Way NE neighborhood stands out for having an average per capita income lower than 98.8% of the neighborhoods in the United States. Also of note, 100.0% 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.
In addition, an extraordinary 54.6% of the residents of the NE 42nd St / University Way NE neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.
Also, one of the really interesting characteristics about the NE 42nd St / University Way NE neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 4.5% of college-friendly places to live in the state of Washington.
Modes of Transportation
More people in NE 42nd St / University Way NE choose to walk to work each day (33.1%) 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, our research revealed that more commuters here take the bus to work (22.3% ride the bus) than 99.0% 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.
Real Estate
99.3% of the real estate in the NE 42nd St / University Way NE neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
In addition, one of the really unique and interesting things about the look and setting of the NE 42nd St / University Way NE neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 95.2% 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 99.0% of all neighborhoods in America.
Furthermore, the NE 42nd St / University Way NE 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 90.2% 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.
Also of note, the NE 42nd St / University Way NE neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 35,086 persons per square mile in the neighborhood, it is more packed with people than 97.5% 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 NE 42nd St / University Way NE neighborhood is one of the most walkable neighborhoods in America.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the NE 42nd St / University Way NE neighborhood buck this trend. 51.3% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.8% of U.S. neighborhoods.
Migration / Stability
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 NE 42nd St / University Way NE neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.6% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Diversity
Did you know that the NE 42nd St / University Way NE neighborhood has more Asian and Iranian 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 1.5% have Iranian ancestry.
NE 42nd St / University Way NE is also pretty special linguistically. Significantly, 12.2% of its residents five years old and above primarily speak Chinese at home. While this may seem like a small percentage, it is higher than 98.4% 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 NE 42nd St / University Way NE neighborhood in Seattle are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 98.8% of U.S. neighborhoods. With 100.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 99.8% 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 NE 42nd St / University Way NE neighborhood, 40.0% 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 34.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (19.0%), and 6.5% in manufacturing and laborer 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 NE 42nd St / University Way NE neighborhood is English, spoken by 54.5% of households. Other important languages spoken here include Chinese, Spanish, Langs. of India and Korean.
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 NE 42nd St / University Way NE neighborhood in Seattle, WA, residents most commonly identify their ethnicity or ancestry as Asian (37.2%). There are also a number of people of German ancestry (12.9%), and residents who report Sub-Saharan African roots (8.5%), and some of the residents are also of Mexican ancestry (6.7%), along with some Irish ancestry residents (4.1%), among others. In addition, 33.8% 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 NE 42nd St / University Way NE neighborhood spend between 15 and 30 minutes commuting one-way to work (31.8% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (33.1%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (25.2%) and 22.3% of residents also ride the bus for their daily commute. 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.
