NYU Furman Center

State of New York City’s Housing & Neighborhoods

State of the City 2019

Greenwich Village/Soho MN02

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DEMOGRAPHICS
In 2018, there were about 151,979 people in Greenwich Village/Soho, with 14.5% of the population identified as Asian, 1.7% identified as black, 7.4% identified as Hispanic, and 72.6% identified as white. Median household income in 2018 was $150,600, about 132% more than citywide median household income ($64,850). The poverty rate in Greenwich Village/Soho was 6.6% in 2018 compared to 17.3% citywide.

Poverty Rate, 2018

The poverty rate in Greenwich Village/Soho was 6.6% in 2018 compared to 17.3% citywide.
Sources: American Community Survey, NYU Furman Center
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HOUSING

Renters

Real median gross rent in Greenwich Village/Soho increased from $2,220 in 2006 to $2,690 in 2018. In 2018, 17.6% of renter households in Greenwich Village/Soho were severely rent burdened (spent more than 50% of household income on rent). 15.9% of the rental units are affordable at the 80% Area Median Income, 5 percentage points higher than the share in 2010. None of the rental units are public housing rental units in 2018. The overall rental vacancy rate in Greenwich Village/Soho was 5.1%.

Real Median Gross Rent 2006 - 2018 (2019$)

Real median gross rent in Greenwich Village/Soho increased from $2,220 in 2006 to $2,690 in 2018.
Sources: American Community Survey, NYU Furman Center
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Share of Rental Units Located in New York City Housing Authority Public Housing

None of the rental units in Greenwich Village/Soho are public housing rental units in 2018.
Sources: American Community Survey, NYU Furman Center
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Homeowners

In 2018, the homeownership rate in Greenwich Village/Soho was 31.6%, lower than the citywide share of 32.8%. The homeownership rate in the neighborhood has increased by 6.3 percentage points since 2010. In 2018, the home purchase loan rate was 17.9 per 1,000 properties (owner-occupied 1-4 family buildings, condominiums, or cooperative apartments) and the refinance loan rate was 9.1 per 1,000 properties in the neighborhood. 16 properties had a filing of mortgage foreclosure in Greenwich Village/Soho in 2018. There were 1.7 mortgage foreclosure actions initiated per 1,000 1-4 family properties and condominium units.

Rate of Mortgage Foreclosure Actions Initiated Per 1,000 1-4 Family Properties and Condominium Units 2000 - 2018

There were 1.7 mortgage foreclosure actions initiated per 1,000 1-4 family properties and condominium units in Greenwich Village/Soho in 2018.
Sources: Home Mortgage Disclosure Act, NYU Furman Center
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Development

In 2019, there were 127 units authorized by new residential building permits, which is 2.3% of total new units in Manhattan, and 0.5% of the citywide total, in Greenwich Village/Soho. Department of Buildings issued new certificates of occupancy to 239 residential units in new buildings in Greenwich Village/Soho last year, 124 more than the number of units certified in 2018.

Units Issued New Certificates of Occupancy, 2000 - 2019

Department of Buildings issued new certificates of occupancy to `239 residential units in new buildings in Greenwich Village/Soho last year, `124 more than the number of units certified in 2018.
Sources: Department of Buildings, Department of City Planning, NYU Furman Center
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NEIGHBORHOOD SERVICES AND CONDITIONS
In 2019, 85.8% of 4th grade students attending schools in Greenwich Village/Soho performed at grade level in math, compared to 56.3% in Manhattan, and 49.4% citywide; 80.3% of Greenwich Village/Soho 4th graders performed at grade level in English language arts, compared to 59.2% in Manhattan, and 49.6% citywide. The serious crime rate was 26.7 serious crimes per 1,000 residents in 2019, compared to 11.3 serious crimes per 1,000 residents citywide.

Serious Crime Rate Per 1,000 Residents, 2019

The serious crime rate was 26.7 serious crimes per 1,000 residents in 2019, compared to 11.3 serious crimes per 1,000 residents citywide.
Sources: New York City Police Department, NYU Furman Center
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Neighborhood Indicators: MN02 Greenwich Village/Soho

Demographics

Indicator 2000 2006 2010 2018 2019 Rank (2000) Rank (18/19)
Population
Born in New York State 38.8% 34.7% 40.5% 43
Disabled population 3.1% 2.3% 55
Foreign-born population 23.3% 25.9% 23.1% 21.2% 43 49
Population 125,567 147,198 144,944 151,979
Population aged 65+ 10.5% 9.8% 11.2% 13.9% 32 28
Households
Households with children under 18 years old 11.4% 13.9% 12.7% 17.0% 53 51
Single-person households 51.4% 49.4% 47.1% 4
Race and Ethnicity
Percent Asian 14.5% 19.2% 14.6% 14.5% 11 19
Percent Black 3.1% 2.7% 2.4% 1.7% 44 50
Percent Hispanic 5.9% 4.9% 5.6% 7.4% 53 53
Percent white 73.6% 71.5% 73.2% 72.6% 6 4
Racial diversity index 0.43 0.45 0.44 0.45 42 48
Income and Poverty
Income diversity ratio 6.7 6.0 6.5 17
Median household income (2019$) $108,750 $119,570 $117,930 $150,600 2 1
Median household income, homeowners (2019$) $191,370 $178,130 $190,720 3
Median household income, renters (2019$) $99,340 $106,500 $140,090 1
Poverty rate 9.9% 11.9% 9.9% 6.6% 49 53
Poverty rate, population aged 65+ 23.4% 8.7% 14.6% 38
Poverty rate, population under 18 years old 15.3% 7.5% 0.8% 55
Labor Market
Labor force participation rate 75.5% 77.6% 76.9% 1
Population aged 25+ without a high school diploma 7.5% 5.2% 4.9% 52
Unemployment rate 5.78% 4.77% 6.08% 3.66% 46 48

Housing Market and Conditions

Indicator 2000 2006 2010 2018 2019 Rank (2000) Rank (18/19)
Housing Stock
Homeownership rate 25.9% 29.8% 25.3% 31.6% 30 28
Housing units 81,238 89,353 93,773 5
Rental vacancy rate 5.0% 5.1% 7
Serious housing code violations (per 1,000 privately owned rental units) 22.6 13.9 28.0 29.9 44
Severe crowding rate (% of renter households) 3.2% 3.8% 27
Total housing code violations (per 1,000 privately owned rental units) 95.3 79.5 136.7 115.5 44
Finance - Distress
Notices of foreclosure rate (per 1,000 1-4 family and condo properties) 1.2 1.8 2.4 1.7 57 56
Notices of foreclosure, all residential properties 4 11 21 16 59 55
Notices of foreclosure, initial, 1-4 family and condo properties 3 8 14 6 58 53
Notices of foreclosure, repeat, 1-4 family and condo properties 1 3 3 7 55 55
Pre-foreclosure notice rate (per 1,000 1-4 family and condo properties) 11.8 11.5 52
Pre-foreclosure notices, 1-4 family and condo properties 89 87 54
Properties entering REO, 1-4 family 0 0 0 50
Finance - Lending
FHA/VA-backed home purchase loans (% of home purchase loans) 0.0% 0.3% 0.0% 42
Higher-cost home purchase loans (% of home purchase loans) 0.0% 1.2%
Higher-cost refinance loans (% of refinance loans) 0.0% 0.5%
Home purchase loan rate (per 1,000 properties) 50.1 23.9 17.9 34
Home purchase loans in LMI tracts (% of home purchase loans) 3.4% 0.8% 2.5% 48
Home purchase loans to LMI borrowers (% of home purchase loans) 1.3% 0.3% 1.1% 53
Refinance loan rate (per 1,000 properties) 14.8 31.9 9.1 35
Sales - Volume
Sales volume, 1 family building 6 13 15 16 49 44
Sales volume, 2-4 family building 22 17 11 14 50 49
Sales volume, 5+ family building 26 62 23 20 17 27
Sales volume, all property types 271 521 526 400 41 38
Sales volume, condominium 217 429 477 350 9 10
Sales - Median Prices
Median sales price per unit, 1 family building (2019$) $2,399,040 $6,261,380 $7,742,390 $9,842,890 4 3
Median sales price per unit, 2-4 family building (2019$) $1,611,860 $2,107,790 $1,107,680 $3,935,170 2 2
Median sales price per unit, 5+ family building (2019$) $330,700 $359,310 $681,650 $722,320 2 3
Median sales price per unit, condominium (2019$) $1,012,100 $1,563,490 $1,976,780 $3,225,000 1 1
Sales - Housing Price Index
Index of housing price appreciation, 1 family building 100.0 169.7 218.8 329.0 1 16
Index of housing price appreciation, 2-4 family building 100.0 130.9 127.0 324.8 1 22
Index of housing price appreciation, 5+ family building 100.0 246.2 253.7 555.7 1 27
Index of housing price appreciation, all property types 100.0 205.9 205.9 317.1 1 27
Index of housing price appreciation, condominium 100.0 203.8 203.6 281.2 1 34
Subsidized Housing
Total number of subsidized properties (properties) 15 47
HUD Financing or Insurance (properties) 1 38
HUD Financing or Insurance (units) 152 30
HUD Project-based Rental Assistance Program (properties) 2 43
HUD Project-based Rental Assistance Program (units) 536 32
Low Income Housing Tax Credit (properties) 2 45
Low Income Housing Tax Credit (units) 148 49
Public Housing (properties) 0 42
Public Housing (units) 0 42
Mitchell-Lama (properties) 2 27
Mitchell-Lama (units) 174 40
421-a Tax Exemption (properties) 9 46
421-a Tax Exemption (units) 331 46
420-c Tax Exemption (properties) 0 46
420-c Tax Exemption (units) 0 46
NYC Housing Production Programs and Zoning Incentives or Requirements (properties) 8 41
Eligible to expire from housing programs between 2020 and 2025 (properties) 0 47
Eligible to expire from housing programs between 2020 and 2025 (units) 0 44
Eligible to expire from housing programs between 2026 and 2035 (properties) 5 28
Eligible to expire from housing programs between 2026 and 2035 (units) 706 31
Eligible to expire from housing programs in 2036 and later (properties) 1 51
Eligible to expire from housing programs in 2036 and later (units) 152 48

Land Use and Development

Indicator 2000 2006 2010 2018 2019 Rank (2000) Rank (18/19)
Density
Population density (1,000 persons per square mile) 50.9 50.2 52.6 16
Development
Units authorized by new residential building permits 31 105 358 127 53 48
Units issued new certificates of occupancy 19 193 242 115 239 54 30

Neighborhood Services and Conditions

Indicator 2000 2006 2010 2018 2019 Rank (2000) Rank (18/19)
Commute
Car-free commute (% of commuters) 85.9% 84.5% 88.3% 90.9% 3 3
Mean travel time to work (minutes) 24.4 26.1 24.3 25.3 55 55
Crime and Incarceration
Serious crime rate (per 1,000 residents) 34.5 29.3 28.2 26.7 2
Serious crime rate, property (per 1,000 residents) 29.3 25.2 24.2 22.2 2
Serious crime rate, violent (per 1,000 residents) 5.2 4.1 4.0 4.5 26
Schools
Students performing at grade level in English language arts, 4th grade 88.5% 80.3% 5
Students performing at grade level in math, 4th grade 87.6% 85.8% 1

Renters

Indicator 2000 2006 2010 2018 2019 Rank (2000) Rank (18/19)
Median Rent
Median rent, 2- and 3-bedrooms (2019$) $2,540 $2,980 1
Median rent, all (2019$) $1,770 $2,220 $2,520 $2,690 3 1
Median rent, recent movers (2019$) $2,860 $3,000 1
Median rent, studios and 1-bedrooms (2019$) $2,320 $2,690 1
Median rent, asking $3,200 $3,660 3
Affordability
Rental units affordable at 30% AMI (% of recently available units) 1.5% 2.9% 37
Rental units affordable at 80% AMI (% of recently available units) 10.8% 15.9% 43
Rental units affordable at 120% AMI (% of recently available units) 22.3% 32.1% 47
Rent Burden
Moderately rent-burdened households 20.6% 20.3% 17.5% 54
Moderately rent-burdened households, low income 21.7% 22.5% 54
Moderately rent-burdened households, moderate income 36.5% 47.9% 3
Severely rent-burdened households 19.3% 22.0% 17.6% 46 54
Severely rent-burdened households, low income 60.2% 57.2% 3
Severely rent-burdened households, moderate income 28.0% 16.8% 3
Rental Subsidy
Housing choice vouchers (% of occupied, privately owned rental units) 1.0% 0.7% 50
Public housing (% of rental units) 0.0% 42

Data Notes: Community districts MN01 and MN02 both fall within sub-borough area 301. Data reported at the sub-borough level are identical. See Indicator Definitions, Rankings, and Methods for more information.

Indicators: The rental vacancy rate, severe crowding rate, and the severely rent-burdened households indicators use five-year American Community Survey (ACS) estimates. Data under the 2010 heading comes from the 2006 – 2010 ACS and data under the 2018 heading comes from the 2014 – 2018 ACS.

Rankings: We report rankings out of all neighborhoods for which the indicator can be calculated. Rankings are listed for community districts, though some indicators are reported at the sub-borough area level.