The 11211 ZIP code is located within New York, New York, and is part of the greater New York-Newark-Jersey City metropolitan area.
Like many urban ZIP codes, it’s small in terms of territory, at just 2.30 square miles, but large in terms of population, with 97,772 residents. Also, it has 2,979 business establishments operating within it.
Homebuying in 11211
With a median home value of $766,700, homes in this ZIP code are likely to be more expensive than those in other areas of the country; the national median home value is lower at $178,600.
Buyers may need to invest some “sweat equity” into their new home. The area’s housing stock is older than in the rest of the country; a typical house here was built in 1945, making the median home 72 years old, compared to 41 for the entire entire country.
Finding room in your budget for the mortgage payment might not be the only challenge. Actually finding one that suits your needs (not to mention tastes) may be an issue as well.
Over the last five years, Census data shows that the proportion of homes up for sale has been less than in the nation as a whole, suggesting there may not be enough options in the market for buyers to easily find what they’re looking for.
How much you’ll pay in property taxes is likely to affect how much home you can afford to buy. The median annual property taxes in this ZIP code are $1,141 a year, according to Census figures.
Another thing to consider when budgeting? Your mortgage rate. Check out rates in your area now.
What to expect when you’re renting in 11211
Those considering renting in this area may have a tough time finding something that fits their budget. The median rent for a two-bedroom home is $1,334 a month, which is above the national median of $912.
For those looking for a smaller, one-bedroom home, the median rent in the area is $1,591. For larger homes with three bedrooms, the median cost is $1,128. One thing to keep in mind about these figures: They’re gross rents, a term used by the Census to include the contract rent as well as the estimated average monthly cost of utilities and fuels.
How people get around
If you dislike driving, the 11211 ZIP code may be a good pick. Residents in New York are less likely to commute by car than in the rest of the country, with 11.8 percent driving to work there versus 85.9 percent in the country as a whole. For those who love public transit, there’s probably a lot to like there. Public transit is the most used way to get to work there, beating out driving, walking and biking.
However you get to work, don’t expect to get there quickly if you live in this ZIP. The typical commute there is 31.1 minutes, higher than the national median of 27.4 minutes.
Parents and prospective parents are always on the lookout for quality local schools. School systems in the 11211 ZIP code spend an average of $21,154 on each student per year, below the national median for all ZIP codes. Higher spending on students doesn’t always mean better outcomes for students, but it can mean more resources, smaller class sizes and better facilities.
Public schools in the 11211 ZIP code aren’t as popular as those in many other parts of the country. The percentage of K-12 students attending private school there is 58.2 percent, higher than the national average.
Educational attainment in this ZIP tends to be elevated. Residents are more likely to be college educated than elsewhere in the country, with 30.1 percent holding at least a bachelor’s degree, compared to the national average of 18.5 percent.
Demographics and income
The proportion of older people in the 11211 ZIP code is higher than in the nation as a whole. The median age is 30.3 years old, compared to the national median of 37.6. People living there are also more likely to be single than the national average.
People there also tend to be higher earners than in other areas. The median household income is $54,406, compared to $53,889 for the U.S. as a whole. The average jobless rate there between 2011 and 2015 was 6.3 percent, according to the most recent Census estimates. That was below the national average of 8.3 percent.
Sources: The data found on this ZIP profile comes principally from the latest five-year averages from the American Community Survey produced by the U.S. Census. Mortgage rates are from Bankrate.com’s database.