NEW YORK CONDO BUZZ
 
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The New York Bronx Real Estate at a Glance
The Bronx New York property market has the distinction of being the most affordable real estate in the city. On the whole, NY Bronx real estate is reflective of the individual and household income of residents who live in this borough, and even to this day, the Bronx New York real estate community is one of the poorest areas not only in NYC, but also the United States. There are however some brighter, more affluent neighborhoods such as Country Club and Riverdale where you will find plenty of more expensive Bronx home and New York condo developments. Because of the resident socio-economic profile, the New York Bronx apartment rental market is a hot commodity for investors, as the majority of Bronx residents choose to be tenants.
 
 
Some Background Info About The Bronx Demographics and Its Influence on the New York Real Estate Market
As of the year 2000, the median household income in Bronx New York City was only $27,000, representing one of the poorest areas in the entire country. Nearly thirty per cent of the entire Bronx population lives under the poverty line and things have not changed much over the last decade unfortunately. Because of this, the New York Bronx real estate market place consists mainly of Bronx apartment rentals and condominium developments for rent. The majority of Bronx New York residents are renters or tenants, with only less than a quarter owning their own home or property. With such a low household median income, the New York Bronx rental market is one of the largest real estate rental market places in the entire United States, with over one million renters seeking accommodation and affordable housing. Many of the new Bronx apartment developments are for rental apartment buildings geared towards renters and very few New York projects offer market units. There has been a slight shift in focus from New York developers as of late, as the borough tries to target middle class residents into the area, but this transition from renting to owning will take decades, if it happens. The ethnicities of the New York Bronx residents are mainly Hispanics (which make up almost 50% of the population) and Blacks/African-Americans (almost 32% of the total Bronx populace). Lesser ethnic groups include Whites, Asians, Native Americans and Pacific Islanders. In addition, the New York Bronx real estate market also has the largest concentration of both Dominicans and Puerto Ricans in the United States.
 
The Bronx New York property market has always been centered around apartment rental buildings and condos for rent as the median income in this NYC borough does not sustain new development or owner occupied residences.

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The Bronx Real Estate Neighborhooods and Property Investment Potential
The most notable Bronx New York real estate districts include: Riverdale, Belmont (Arthur Avenue’s Little Italy) as well as South Bronx, where you can find affordable property deals and older homes for sale. The other districts in the Bronx property market include East Bronx (includes Co-Op City, Westchester Square and Harding Park), City Island/Hart Island, West Bronx New York (Riverdale, Van Cortlandt Park), and North West Bronx (Norwood, Kingsbridge, Marble Hill) all of which present some affordable New York real estate options for homebuyers and investors. In terms of Bronx real estate accessibility, homebuyers will be happy to find out that the borough is connected to Queens via two bridges, and to both Manhattan and Queens by way of the Robert F. Kennedy Bridge. There are also multiple bridges and tunnels that link the Bronx borough to Manhattan. Therefore, the New York Bronx accessibility to the rest of the area is actually very good, making the Bronx real estate market a great place for investment. Of course, when investing in Bronx property, you should also be looking for homes and apartments along one of the six lines of the New York City Subway including the IRTs (White Plan Roads Line, Pelham Line, Jerome Avenue Line, Dyre Avenue Line and Broadway-Seventh Avenue Line) and IND (Concourse Line). These districts will have the best New York Bronx real estate investment potential and will attract the best tenants and renters as well.
 
The Eclectic Bronx New York Condo BUZZ Previews
With a substantial population of almost 1.4 million residents, the Bronx New York condo market is one of the most sought after rental markets in NYC. Home to some of the poorer communities, the districts in the Bronx New York property market are not as well known to the general public as those in Manhattan and Brooklyn. However, the Bronx New York real estate market is home to the world’s largest co-op housing complexes called the Bronx Co-Op City. Most of the Bronx NYC real estate market is actually part of mainland United States (except for Marble Hill) and is also the birthplace to hip hop and rap. The New York Condo BUZZ features some of the newest and most exciting Bronx condo developments that are transforming this New York real estate market place step by step. With affordable Bronx condos coming onto the market, the borough hopes to attract more middle class residents and to revitalized its storied past. The New York Condo BUZZ provides details about such Bronx NYC condo projects now under way or completed and ready for move-in.
 
 
 
 
 
 
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