About the Bayside Community, NY
Bayside in the constituent county of Queens in New York City. Demographically, it has a population of 49,341, which includes total households of 18, 345. The community is renowned for its diverse ethnocultural groupings.
Real estate transactions and decisions can be complex for prospective homeowners in New York due to several factors. These factors, when taken into consideration, would aid prospective residents in making suitable location choices.
In this short article, we will help you gain insight into some of those factors in relation to Bayside.
Bayside Crime Rate
Why Bayside is a safe town to live in with your family
Over the years, Bayside has, over the years, been acknowledged as a low crime rate community in New York City and the United States of America at large.
Based on the available statistics, Bayside has a crime rate of 9 per 1000 residents. This report nearly equates the crime rate experienced in the Bayside neighborhood to the national average.
The comparative analysis further reveals that Bayside is more secure than 95% of communities in New York City. Besides, the chances of a Bayside resident becoming a victim of any crime would be 1 in 51.
Bayside, alongside Douglaston and Little Neck, are policed by the 111th Precinct of the New York Police Department.
In support of the above statement, the New York Police Department analysis report that crimes across all categories (broadly structured along with violent and property crimes) have reduced significantly by 88.6% between 1990 and 2018.
Furthermore, in 2018, the community recorded zero murders and few other offenses on the records.
Bayside Median Household Income
the population and average income in Bayside, NY
Bayside can be considered one of the most prosperous communities in New York City. Bayside median household income is estimated at $82,020. Comparatively, these statistics placed Bayside’s $21,684 per capita head above the national average.
The median income distribution amongst the various age groupings of the population shows, on the one hand, an increase in income as people advanced within the 64 years old income bracket, while on the other hand, its indicates a sharp decline as the working population hits the 65 years old mark. From the analysis, the population within the 64 years old income bracket earns between $74,464 and $93, 225 while those above 65 years old are pegged at $54,977. Approximately, the poverty rate in Bayside is 8.7%which is below the citywide rate of 19.0%.
Bayside Median Real Estate Price
Comparative analysis of Bayside’s standard of living and prices of real estate properties in the U.S.
The alluring standard of living in Bayside is accompanied by the astronomical cost of living. Regarded as one of the most expensive neighborhoods to live in New York City, acquisition of real estate properties in Bayside is largely dependent on the depth of the purchaser’s pocket. In Bayside, the median real property value is $1,039,750, which conveniently ranked the neighborhood as one of the most expensive housing markets in the United States of America.
Statistically, buying real estate properties in Bayside is costlier than 88.3% of the communities in New York City and 96.6% of communities in the nation. However, there are less expensive homes for the average and low-income earners who desire to live in Bayside. The easiest way to get these kinds of homes is to have a real estate agent who is well connected and with proven real estate negotiation skills.
The real estate market in Bayside is commonly comprised of family-sized homes (two to four bedrooms) and small apartment buildings. Bayside residents are more inclined to own their residence outrightly than to rent the same.
Due to its rich historical antecedents, most houses in Bayside are older and built between 1940 and 1969. A sizeable number of apartments were also constructed before 1940.
Not surprisingly, Bayside has 8.7% vacancy rates and a fast-growing market for prospective homeowners who would love to buy real estate properties in a peaceful community. In contrast, the 8.7% vacancy rate in Bayside is lower than 51.0% of communities in the United States of America.
Bayside Median Rent
The rental prices for different homes in Bayside
While the average real estate purchase price in Bayside may be termed ”above average”, the opposite is actually true as regards the rental value of real estate properties in the neighborhood. Undoubtedly, this is made so by reason of the fact that over 65% of residents own their homes.
First, the median rent price in Bayside is $2,503. This figure is $114 and $930 above the average rental price in New York City and the United States of America, respectively. However, despite the comparable differences, Bayside has witnessed an influx of people who see the neighborhood as ”a great alternative to Manhattan and Brooklyn’ exorbitant rental prices.
Lastly, other attractions in Bayside are the different house offerings, which include a good mix of single-family homes, co-ops, condos, and multi-family homes, short commute to Manhattan, closeness to Throgs Neck Bridge, highways, shops, and restaurants.
Thinking of Bayside for your best options, speak to Judy, a professional and proven real estate consultant from a top real estate company in Bayside for a free consultation.