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Real Estate Prices & Overview

Prospect Pl / Schenectady Ave median real estate price is $1,664,404, which is more expensive than 90.9% of the neighborhoods in New York and 97.3% of the neighborhoods in the U.S.

The average rental price in Prospect Pl / Schenectady Ave is currently $3,417, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 60.4% of the neighborhoods in New York.

Prospect Pl / Schenectady Ave is a densely urban neighborhood (based on population density) located in Brooklyn, New York.

Prospect Pl / Schenectady Ave real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the Prospect Pl / Schenectady Ave 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.

Prospect Pl / Schenectady Ave has a 11.4% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 67.1% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

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

In the Prospect Pl / Schenectady Ave neighborhood, 62.3% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 99.9% of the neighborhoods in America.

Real Estate

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 Prospect Pl / Schenectady Ave 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 70.0% of the real estate here is made up of such dwellings, which is higher than 99.7% of all U.S. neighborhoods.

In addition, the Prospect Pl / Schenectady Ave neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 43,348 persons per square mile in the neighborhood, it is more packed with people than 98.1% 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 Prospect Pl / Schenectady Ave neighborhood is one of the most walkable neighborhoods in America.

Furthermore, 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 67.9% of the residential real estate in the Prospect Pl / Schenectady Ave neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 98.2% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Car Ownership

Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Prospect Pl / Schenectady Ave neighborhood have a highly unusual car ownership. 59.3% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.2% of U.S. neighborhoods.

Diversity

Did you know that the Prospect Pl / Schenectady Ave neighborhood has more Haitian and Jamaican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.3% of this neighborhood's residents have Haitian ancestry and 8.6% have Jamaican ancestry.

Prospect Pl / Schenectady Ave is also pretty special linguistically. Significantly, 5.6% 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 97.9% 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 Prospect Pl / Schenectady Ave 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 72.2% of U.S. neighborhoods. With 26.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 76.8% of U.S. neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Prospect Pl / Schenectady Ave neighborhood, 44.3% 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 19.5% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (19.1%), and 17.2% 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 Prospect Pl / Schenectady Ave neighborhood is English, spoken by 81.8% of households. Other important languages spoken here include French and Spanish.

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 Prospect Pl / Schenectady Ave neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as German (10.2%). There are also a number of people of Jamaican ancestry (8.6%), and residents who report English roots (8.0%), and some of the residents are also of Haitian ancestry (7.3%), along with some Irish ancestry residents (6.9%), among others. In addition, 32.5% 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 Prospect Pl / Schenectady Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (48.7% of working residents), longer and tougher than most commutes in America.

Here most residents (62.3%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (9.4%) and 6.8% of residents also ride the bus for their daily commute. This neighborhood is distinguished by the high number of residents who take the train to work each day, which can be a very good way to get to work at a lower cost and with less pollution.


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