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Real Estate Prices & Overview

E 48th St / Ave D median real estate price is $807,582, which is more expensive than 62.5% of the neighborhoods in New York and 85.0% of the neighborhoods in the U.S.

The average rental price in E 48th St / Ave D is currently $3,208, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 46.0% of New York neighborhoods.

E 48th St / Ave D is a densely urban neighborhood (based on population density) located in Brooklyn, New York.

E 48th St / Ave D real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) small apartment buildings and townhomes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the E 48th St / Ave D 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 E 48th St / Ave D, the current vacancy rate is 1.8%, which is a lower rate of vacancies than 87.5% of all neighborhoods in the U.S. This means that the housing supply in E 48th St / Ave D is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

Modes of Transportation

Our research revealed that more commuters here take the bus to work (28.3% ride the bus) than 99.6% 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, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 27.4% of the E 48th St / Ave D 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.

Real Estate

The E 48th St / Ave D neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 35,395 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 E 48th St / Ave D neighborhood is one of the most walkable neighborhoods in America.

In addition, if you love row houses and attached homes, you will probably really like the E 48th St / Ave D neighborhood. The ambiance, the charm, of row houses is something special. And in sheer abundance of row houses, this neighborhood truly stands out. The real estate here has a higher proportion of row houses and attached homes than nearly any neighborhood in America. In fact, 40.5% of the residential real estate here is classified as row houses and attached homes.

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 E 48th St / Ave D neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 56.1% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 95.5% of the neighborhoods in the United States.

Car Ownership

American households most often have a car, and regularly they have two or three. But households in the E 48th St / Ave D neighborhood buck this trend. 26.8% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 96.7% of U.S. neighborhoods.

Diversity

Did you know that the E 48th St / Ave D neighborhood has more Haitian and Jamaican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 13.2% of this neighborhood's residents have Haitian ancestry and 10.1% have Jamaican ancestry.

E 48th St / Ave D is also pretty special linguistically. Significantly, 13.2% of its residents five years old and above primarily speak French at home. While this may seem like a small percentage, it is higher than 99.5% 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 E 48th St / Ave D neighborhood. More residents of the E 48th St / Ave D neighborhood live here today that also were living in this same neighborhood five years ago than is found in 96.8% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while. What is interesting to note, is that the E 48th St / Ave D neighborhood has a greater percentage of residents born in another country (49.6%) than are found in 97.6% of all U.S. neighborhoods.

The Neighbors

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 E 48th St / Ave D neighborhood in Brooklyn are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 67.5% of the neighborhoods in America. With 13.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 56.1% 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 E 48th St / Ave D neighborhood, 33.5% of the working population is employed in clerical, assistant, and tech support 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 30.5% of the residents employed. Other residents here are employed in executive, management, and professional occupations (24.5%), and 11.6% in manufacturing and laborer occupations.

Languages

The most common language spoken in the E 48th St / Ave D neighborhood is English, spoken by 84.7% of households. Some people also speak French (13.2%).

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the E 48th St / Ave D neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Haitian (13.2%). There are also a number of people of Sub-Saharan African ancestry (11.3%), and residents who report African roots (10.9%), and some of the residents are also of Jamaican ancestry (10.1%), along with some Dominican ancestry residents (2.9%), among others. In addition, 49.6% 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 E 48th St / Ave D neighborhood spend between 30 and 45 minutes commuting one-way to work (48.2% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (39.0%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (28.3%) and 27.4% of residents also take the train 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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