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Real Estate Prices & Overview

118th St / Liberty Ave median real estate price is $800,722, which is more expensive than 61.9% of the neighborhoods in New York and 84.7% of the neighborhoods in the U.S.

The average rental price in 118th St / Liberty Ave is currently $4,032, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 75.1% of the neighborhoods in New York.

118th St / Liberty Ave is a densely urban neighborhood (based on population density) located in Queens, New York.

118th St / Liberty Ave real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the 118th St / Liberty 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.

Real estate vacancies in 118th St / Liberty Ave are 4.8%, which is lower than one will find in 68.1% of American neighborhoods. Demand for real estate in 118th St / Liberty Ave 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.

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.

Real Estate

The 118th St / Liberty Ave neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 51,154 persons per square mile in the neighborhood, it is more packed with people than 98.5% 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 118th St / Liberty Ave 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 118th St / Liberty 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 37.9% of the real estate here is made up of such dwellings, which is higher than 96.7% of all U.S. neighborhoods.

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 118th St / Liberty Ave neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 74.2% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 99.2% of the neighborhoods in the United States.

Modes of Transportation

Our research revealed that more commuters here take the bus to work (17.9% ride the bus) than 98.2% 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, in the 118th St / Liberty Ave neighborhood, 21.6% 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 97.4% of the neighborhoods in America.

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. What is interesting to note, is that the 118th St / Liberty Ave neighborhood has a greater percentage of residents born in another country (67.6%) than are found in 99.7% of all U.S. neighborhoods.

Diversity

Did you know that the 118th St / Liberty Ave neighborhood has more Asian and Native American 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 4.3% have Native American ancestry.

118th St / Liberty Ave is also pretty special linguistically. Significantly, 13.4% of its residents five years old and above primarily speak Langs. of India at home. While this may seem like a small percentage, it is higher than 99.6% 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 118th St / Liberty Ave neighborhood in Queens are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 82.7% of the neighborhoods in America. With 18.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 66.2% 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 118th St / Liberty Ave neighborhood, 35.3% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 26.5% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (19.3%), and 18.8% in clerical, assistant, and tech support 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 118th St / Liberty Ave neighborhood is English, spoken by 68.2% of households. Other important languages spoken here include Langs. of India, Spanish and Urdu (the national language of Pakistan).

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 118th St / Liberty Ave neighborhood in Queens, NY, residents most commonly identify their ethnicity or ancestry as Asian (37.2%). There are also a number of people of South American ancestry (6.2%), and residents who report Native American roots (4.3%), and some of the residents are also of Mexican ancestry (4.2%), along with some Sub-Saharan African ancestry residents (3.8%), among others. In addition, 67.6% 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 118th St / Liberty Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (48.0% of working residents), longer and tougher than most commutes in America.

Here most residents (42.7%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (21.6%) and 17.9% of residents also ride the bus 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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