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Midtown MN05

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Neighborhood Indicators

Demographics

Indicator 2000 2006 2010 2019 2020 2021
Population
Born in New York State 38.1% 35.1% 35.7%
Disabled population 4.7% 6.4%
Foreign-born population 25.3% 24.0% 27.0% 27.0%
Population 122,241 131,439 134,471 167,290
Population aged 65+ 11.4% 11.3% 11.9% 16.4%
Households
Households with children under 18 years old 8.4% 8.7% 9.2% 8.7%
Single-person households 63.4% 58.0% 57.6%
Race and Ethnicity
Percent Asian 9.8% 13.7% 13.9% 15.8%
Percent Black 6.6% 6.0% 6.3% 4.6%
Percent Hispanic 16.8% 14.6% 12.6% 17.4%
Percent white 63.5% 64.0% 63.6% 58.6%
Racial diversity index 0.55 0.55 0.56 0.60
Income and Poverty
Income diversity ratio 7.2 8.2 6.3
Median household income (2021$) $90,830 $96,300 $94,470 $126,360
Median household income, homeowners (2021$) $152,330 $139,650 $171,950
Median household income, renters (2021$) $83,680 $85,120 $111,530
Poverty rate 14.4% 13.6% 11.7% 11.1%
Poverty rate, population aged 65+ 15.3% 15.4% 24.2%
Poverty rate, population under 18 years old 19.4% 14.7% 9.4%
Labor Market
Labor force participation rate 76.2% 74.6% 73.1%
Population aged 25+ without a high school diploma 8.4% 7.7% 6.9%
Unemployment rate 7.33% 5.49% 8.29% 2.64%

Housing Market and Conditions

Indicator 2000 2006 2010 2019 2020 2021
Housing Stock
Homeownership rate 20.2% 20.1% 24.9% 22.8%
Housing units 90,715 91,373 111,154
Rental vacancy rate 3.9% 6.8%
Serious housing code violations (per 1,000 privately owned rental units) 6.8 7.1 11.0 8.8 17.2
Severe crowding rate (% of renter households) 2.6% 3.6%
Total housing code violations (per 1,000 privately owned rental units) 42.9 37.3 53.8 36.3 84.3
Finance - Distress
Notices of foreclosure rate (per 1,000 1-4 family and condo properties) 0.9 1.6 17.3 1.6 0.8 6.1
Notices of foreclosure, all residential properties 5 13 172 19 9 75
Notices of foreclosure, initial, 1-4 family and condo properties 4 10 99 6 4 73
Notices of foreclosure, repeat, 1-4 family and condo properties 1 3 69 12 5 1
Pre-foreclosure notice rate (per 1,000 1-4 family and condo properties) 7.5 3.7 3.4
Pre-foreclosure notices, 1-4 family and condo properties 84 42 41
Properties entering REO, 1-4 family 0 0 0
Finance - Lending
FHA/VA-backed home purchase loans (% of home purchase loans) 0.0% 0.2% 0.1% 0.2%
Higher-cost home purchase loans (% of home purchase loans) 3.0% 0.6% 1.2% 0.2%
Higher-cost refinance loans (% of refinance loans) 8.4% 0.3% 0.7% 0.3%
Home purchase loan rate (per 1,000 properties) 54.9 20.4 16.5 11.3
Home purchase loans in LMI tracts (% of home purchase loans) 1.4% 1.8% 1.2% 1.5%
Home purchase loans to LMI borrowers (% of home purchase loans) 0.5% 2.3% 1.7% 3.9%
Refinance loan rate (per 1,000 properties) 11.6 25.9 13.6 21.9
Sales - Volume
Sales volume, 1 family building 0 1 0 0 0 0
Sales volume, 2-4 family building 0 3 0 0 0 0
Sales volume, 5+ family building 7 15 11 7 4 6
Sales volume, condominium 337 1,006 629 511 347 729
Sales volume, all property types 344 1,025 640 518 351 735
Sales - Median Prices
Median sales price per unit, 1 family building (2021$) $4,033,570
Median sales price per unit, 2-4 family building (2021$) $2,417,100
Median sales price per unit, 5+ family building (2021$) $829,590 $585,510 $1,048,690 $1,132,390 $881,280
Median sales price per unit, condominium (2021$) $1,314,890 $1,575,530 $2,227,760 $1,963,010 $1,850,000
Sales - Housing Price Index
Index of housing price appreciation, 1 family building 100.0
Index of housing price appreciation, 2-4 family building 100.0 65.9
Index of housing price appreciation, 5+ family building 100.0 328.9 231.2 586.4 413.9 273.5
Index of housing price appreciation, condominium 100.0 210.2 206.2 268.6 248.8 250.6
Index of housing price appreciation, all property types 100.0 212.1 207.1 272.7 251.0 253.0
Subsidized Housing
Total number of subsidized properties (properties) 47
HUD Financing or Insurance (properties) 0
HUD Financing or Insurance (units) 0
HUD Project-based Rental Assistance Program (properties) 1
HUD Project-based Rental Assistance Program (units) 278
Low Income Housing Tax Credit (properties) 16
Low Income Housing Tax Credit (units) 5,452
Public Housing (properties) 0
Public Housing (units) 0
Mitchell-Lama (properties) 0
Mitchell-Lama (units) 0
421-a Tax Exemption (properties) 22
421-a Tax Exemption (units) 5,665
420-c Tax Exemption (properties) 3
420-c Tax Exemption (units) 1,162
NYC Housing Production Programs and Zoning Incentives or Requirements (properties) 22
Eligible to expire from housing programs between 2022 and 2027 (properties) 2
Eligible to expire from housing programs between 2022 and 2027 (units) 703
Eligible to expire from housing programs between 2028 and 2037 (properties) 10
Eligible to expire from housing programs between 2028 and 2037 (units) 3,590
Eligible to expire from housing programs in 2038 and later (properties) 3
Eligible to expire from housing programs in 2038 and later (units) 978

Land Use and Development

Indicator 2000 2006 2010 2019 2020 2021
Density
Population density (1,000 persons per square mile) 42.6 43.6 54.3
Development
Units authorized by new residential building permits 1,174 0 14 99 538
Units issued new certificates of occupancy 594 655 372 591 66

Neighborhood Services and Conditions

Indicator 2000 2006 2010 2019 2020 2021
Commute
Car-free commute (% of commuters) 86.7% 87.7% 88.2% 89.3%
Mean travel time to work (minutes) 24.8 24.2 24.9 27.5
Crime and Incarceration
Serious crime rate (per 1,000 residents) 160.2 105.7 92.7 67.0 83.1
Serious crime rate, property (per 1,000 residents) 143.1 95.2 82.1 55.4 64.4
Serious crime rate, violent (per 1,000 residents) 17.1 10.6 10.6 11.6 18.7
Schools
Students performing at grade level in English language arts, 4th grade 83.3%
Students performing at grade level in math, 4th grade 80.3%

Renters

Indicator 2000 2006 2010 2019 2020 2021
Median Rent
Median rent, 2- and 3-bedrooms (2021$) $1,910 $2,210
Median rent, all (2021$) $1,590 $1,900 $1,970 $2,110
Median rent, recent movers (2021$) $2,810 $2,890
Median rent, studios and 1-bedrooms (2021$) $2,010 $2,240
Change in collected rent (2019-2020) -11.9%
Affordability
Rental units affordable at 30% AMI (% of recently available units) 4.1% 6.5%
Rental units affordable at 80% AMI (% of recently available units) 15.4% 23.3%
Rental units affordable at 120% AMI (% of recently available units) 31.5% 43.5%
Rent Burden
Moderately rent-burdened households 21.6% 22.6% 21.8%
Moderately rent-burdened households, low income 24.4% 28.4%
Moderately rent-burdened households, moderate income 33.4% 38.0%
Severely rent-burdened households 18.4% 19.9% 19.5%
Severely rent-burdened households, low income 46.3% 45.6%
Severely rent-burdened households, moderate income 17.8% 18.5%
Rental Subsidy
Housing choice vouchers (% of occupied, privately owned rental units) 2.2% 1.9% 1.8%
Public housing (% of rental units) 0.0%
DEMOGRAPHICS

In 2019, there were an estimated 167,290 people in Midtown, of which 15.8% of the population identified as Asian, 4.6% identified as Black, 17.4% identified as Hispanic, and 58.6% identified as white.

Graph showing the racial and ethnic composition of Midtown in both 2000 and 2015-2019.
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In 2019, the household income group with the largest share (34.9%) of households was $100,001 - $250,000. In 2000, the same household income group had the largest share as well, with a slightly lower share of 30.4%.

Graph showing the distribution of household income in Midtown in both 2000 and 2015-2019.
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Median household income in 2019 was $126,360, about 73% more than citywide median household income ($72,930). The poverty rate in Midtown was 11.1% in 2019 compared to 16.0% citywide.

The poverty rate in Midtown was 11.1% in 2019 compared to 16.0% citywide.
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The rent distribution shows the share of apartments by their size (according to the number of bedrooms), and then for each apartment size in the community district, the share of apartments according to their monthly gross rent. This distribution compares 5-year ACS figures from 2010 to 5-year ACS figures from 2019. This is a new figure made for the 2021 State of the City report.

Graph showing the distribution of rents in Midtown in both 2010 and 2015-2019.
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HOUSING

Renters

Real median gross rent in Midtown increased from $1,900 in 2006 to $2,110 in 2019. In 2019, 19.5% of renter households in Midtown were severely rent burdened (spent more than 50% of household income on rent). 23.3% of the rental units were affordable at 80% Area Median Income, 8 percentage points higher than the share in 2010. None of rental units were public housing rental units, as of 2021. The overall rental vacancy rate in Midtown was 6.8% in 2019.

Real median gross rent in Midtown increased from $1,830 in 2007 to $2,110 in 2019.
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None of the rental units in Midtown are public housing rental units in 2021.
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Homeowners

In 2019, the homeownership rate in Midtown was 22.8%, lower than the citywide share of 31.9%. The homeownership rate in the neighborhood has decreased by 2.1 percentage points since 2010. In 2020, the home purchase loan rate was 11.3 per 1,000 properties (owner-occupied 1-4 family buildings, condominiums, or cooperative apartments) and the refinance loan rate was 21.9 per 1,000 properties in the neighborhood. Out of all the first-time home purchase loans and refinance loans in Midtown, 0.2% and 0.3% were high cost loans, respectively. 75 properties had a filing of mortgage foreclosure in Midtown in 2021. There were 6.1 mortgage foreclosure actions initiated per 1,000 1-4 family properties and condominium units.

There were 6.1 mortgage foreclosure notices per 1,000 1-4 family properties and condominium units in Midtown in 2021
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Development

Department of Buildings issued new certificates of occupancy to 66 residential units in new buildings in Midtown in 2020, 525 less than the number of units certified in 2019.

Department of Buildings issued new certificates of occupancy to 66 residential units in new buildings in Midtown last year, 525 less than the number of units certified in 2019.
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Over the last decade, 4,800 units in 4+ unit buildings were built in Midtown. 93% were market rate, compared to 6% low-income. We use data from a variety of sources to count the number of income-restricted units targeted to households earning between 80% and 165% of AMI. However, due to restricted availability of granular data our calculations of income-restricted units should be read as conservative estimates. Read more about our methdology in the technical appendix of the 2021 Focus Report.

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NEIGHBORHOOD SERVICES AND CONDITIONS

The serious crime rate was 83.1 serious crimes per 1,000 residents in 2021, compared to 12.2 serious crimes per 1,000 residents citywide.

The serious crime rate was 83.1 serious crimes per 1,000 residents in 2021, compared to 12.2 serious crimes per 1,000 residents citywide.
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Data Notes: Community districts MN04 and MN05 both fall within sub-borough area 303. Data reported at the sub-borough level are identical. See CoreData User Guide for more information about indicator definitions and methods.

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 2019 heading comes from the 2015 – 2019 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.