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Real Estate Prices & Overview

Midwood median real estate price is $1,255,850, which is more expensive than 76.1% of the neighborhoods in New York and 90.4% of the neighborhoods in the U.S.

The average rental price in Midwood is currently $3,713, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 70.9% of the neighborhoods in New York.

Midwood is a densely urban neighborhood (based on population density) located in Brooklyn, New York.

Midwood 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 small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Midwood 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 Midwood, the current vacancy rate is 2.6%, which is a lower rate of vacancies than 82.0% of all neighborhoods in the U.S. This means that the housing supply in Midwood is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

Modes of Transportation

If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 25.8% of the Midwood 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, if your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 4.1% of residents in the Midwood neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 97.5% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Real Estate

The Midwood neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 34,569 persons per square mile in the neighborhood, it is more packed with people than 97.5% 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 Midwood neighborhood is among the top 5% of American neighborhoods in terms of walkability.

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 Midwood 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 30.9% of the real estate here is made up of such dwellings, which is higher than 95.0% of all U.S. neighborhoods.

Car Ownership

We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Midwood neighborhood has a highly unusual pattern of car ownership. 30.4% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.2% of U.S. neighborhoods.

Diversity

Did you know that the Midwood neighborhood has more Russian and Ukrainian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.0% of this neighborhood's residents have Russian ancestry and 2.1% have Ukrainian ancestry.

Midwood is also pretty special linguistically. Significantly, 6.6% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 99.9% of the neighborhoods in America.

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 Midwood neighborhood in Brooklyn are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 68.2% of U.S. neighborhoods. With 11.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 52.7% 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 Midwood neighborhood, 48.7% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 23.2% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (16.3%), and 11.9% 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 Midwood neighborhood is English, spoken by 45.1% of households. Other important languages spoken here include Russian, Spanish, Chinese and German/Yiddish.

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 Midwood neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Asian (24.9%). There are also a number of people of Polish ancestry (9.5%), and residents who report Russian roots (4.0%), and some of the residents are also of Mexican ancestry (2.9%), along with some Puerto Rican ancestry residents (2.4%), among others. In addition, 33.8% of the residents of this neighborhood were born in another country.

Getting to Work

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 Midwood neighborhood spend between 45 minutes and one hour commuting one-way to work (40.8% of working residents), longer and tougher than most commutes in America.

Here most residents (34.0%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (25.8%) and 11.5% 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.


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