Pelham Bay median real estate price is $916,307, which is more expensive than 66.5% of the neighborhoods in New York and 87.0% of the neighborhoods in the U.S.
The average rental price in Pelham Bay is currently $3,715, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 70.9% of the neighborhoods in New York.
Pelham Bay is a densely urban neighborhood (based on population density) located in Bronx, New York.
Pelham Bay real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two 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 Pelham Bay 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 Pelham Bay are 5.5%, which is lower than one will find in 61.7% of American neighborhoods. Demand for real estate in Pelham Bay 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.
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 Bronx, the Pelham Bay neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
The Pelham Bay neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 34,571 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 Pelham Bay neighborhood is one of the most walkable neighborhoods in America.
In addition, corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the Pelham Bay neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 46.9% of the real estate here is made up of such dwellings, which is higher than 98.1% of all U.S. neighborhoods.
If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 30.1% of the Pelham Bay neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.3% of America's neighborhoods.
Whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the Pelham Bay neighborhood has more single mother households than 96.0% of the neighborhoods in the U.S. Often high concentrations of single mother homes can be a strong indicator of family and social issues such as poverty, high rates of school dropouts, crime, and other societal problems.
Did you know that the Pelham Bay neighborhood has more Greek and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.3% of this neighborhood's residents have Greek ancestry and 23.5% have Puerto Rican ancestry.
Pelham Bay is also pretty special linguistically. Significantly, 2.1% of its residents five years old and above primarily speak Mon-Khmer, which is the dominant language of Cambodia, at home. While this may seem like a small percentage, it is higher than 99.5% of the neighborhoods in America.
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the Pelham Bay neighborhood in Bronx are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 72.6% of U.S. neighborhoods. In addition, 6.4% 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 59.8% of America'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 Pelham Bay neighborhood, 39.2% 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 clerical, assistant, and tech support occupations (16.2%), and 13.3% in manufacturing and laborer occupations.
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 Pelham Bay neighborhood is English, spoken by 58.0% of households. Other important languages spoken here include Spanish, Italian, Portuguese and Mon-Khmer (the dominant language of Cambodia).
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 Pelham Bay neighborhood in Bronx, NY, residents most commonly identify their ethnicity or ancestry as Puerto Rican (23.5%). There are also a number of people of Italian ancestry (20.0%), and residents who report Irish roots (8.1%), and some of the residents are also of Dominican ancestry (7.2%), along with some Mexican ancestry residents (6.7%), among others. In addition, 14.6% 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 Pelham Bay neighborhood spend between 45 minutes and one hour commuting one-way to work (43.7% of working residents), longer and tougher than most commutes in America.
Here most residents (51.1%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (30.1%) and 6.5% of residents also carpool with coworkers, friends, or neighbors 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.