Borough Trends & Insights - NYCEDC

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Borough Trends & Insights - NYCEDC

BOROUGH TRENDS & INSIGHTSAnalyzing New York City's Local EconomiesTHE BRONX UPDATE | JULY 2013HighlightsP.2 Office rental rate rises threefold from 2000 to 2011P.3 Median Bronx householdincome at $32,058P.3 Bronx unemployment rate at12.7%P.6 Bronx Crime rate falls 26.7%from 2000 to 2011P.6 Residents with a HS diplomarises to 69.4% in 2011Center for Economic Transformation


THE BRONX, covering a total of 42 square miles north of Manhattan and Queens, reached a population ofnearly 1.4 million residents in 2011. It experienced the second highest population growth of all five boroughs,at nearly 15.6 percent between 1990 and 2011, which was second only to Staten Island. The economy islocally-oriented with jobs concentrated in the Retail Trade, Wholesale Trade and Services Sectors.Population and Diversity• The majority of Bronx residents are Hispanic or Latino (53.8 percent),with a significant representation of Black or African American(29.9 percent) and White residents (11.1 percent). The boroughexperienced the second highest population increase, behind only StatenIsland, among the Hispanic or Latino population with a growth rate of13.9 percent from 2000 to 2011.• Spanish is the predominant language in the borough. The Bronx hasthe highest share of Spanish speaking residents Citywide and 46.3 percentof residents speak this language at home. English is the next mostcommon language with 42.6 percent of Bronx residents speaking thislanguage at home, the lowest share of all five boroughs.• 33.8 percent of the Bronx’s population is foreign born, an increase of22.1 percent since 2000. Out of its 471,100 foreign born residents,the majority (75.1 percent) are from Latin America.Bronx Population by Race, 2011Bronx Language Spoken at Home, 2011Asian3.4%Native Hawaiianand Other PacificIslander>0.1%Some otherrace0.6%Two or moreraces1.1%60.0%50.0%40.0%BronxNYCAmericanIndianand AlaskaNative0.3% Black or African Hispanic orAmericanLatino29.9%53.8%30.0%20.0%10.0%White11.1%0.0%EnglishSpanishOther Indo-EuropeanAsian andPacificIslanderOtherLanguagesSource: U.S. Census Bureau, American Community SurveySource: U.S. Census Bureau, American Community SurveyJuly 2013 | 1


Commuting continuedBronx Top 5 Stations Annual Ridership by Growth, 2000-2010Station 2000 2010 Change2000–2010Elder Av (6) 1,479,821 2,597,698 76%Woodlawn (4) 1,315,819 2,286,530 74%Freeman St (2, 5) 699,778 1,188,448 70%Bronx Park East (2, 5) 469,942 793,410 69%St Lawrence Av (6) 970,354 1,540,797 59%Source: Metropolitan Transportation AuthorityNote: Does not include student ridershipBronx Bottom 5 Stations Annual Ridership by Growth, 2000-2010Station 2000 2010 Change2000–2010Morrison-SoundView Avs (6) 1,551,868 662,982 -57%Whitlock Av (6) 309,933 140,646 -55%Kingsbridge Rd (B, D) 2,116,359 2,110,209 0%174-175 Sts (B, D) 1,351,219 1,362,444 1%Parkchester (6) 3,562,634 3,669,651 3%Source: Metropolitan Transportation AuthorityNote: Does not include student ridership.Culture and Recreation• The Bronx is home to a number of cultural and recreational landmarksthat attract visitors from across the City as well as the nation. Theseattractions range from historic sites and parks to a Major LeagueBaseball (MLB) stadium.• There are a number of public parks in the Bronx. Two of the largest inthe City are Pelham Bay Park and Van Cortlandt Park. At more thanthree times the size of Central Park, Pelham Bay Park is actually thelargest public park in New York City. A portion of the park, Rodman’sNeck, is a permanent training facility and firing range established bythe New York Police Department. Also located in Pelham Bay Park isthe Bartow-Pell Mansion, which was built between 1836 and 1842 andis a National Historic Landmark. Van Cortlandt Park is the fourth largestpark in the City and home to the oldest public golf course in the US.• The Bronx Zoo is one of the world's largest metropolitan zoos,comprising 265 acres of park land. There is a great variety of wildlife,with some 650 species including lions, tigers, zebras, giraffes, gorillas,elephants, leopards, an anaconda and many others, which may be seenvia indoor and outdoor exhibits.• The New York Botanical Garden covering 250 acres of the Bronx isone of the leading horticultural museums and plant laboratories inthe United States. The facility is home to 50 plant collections fromtropical flowers to forest trees and one the country’s largest plantresearch organizations.• The Bronx is also home to the New York Yankees, part of the AmericanLeague East Division of MLB. The Yankees have won several WorldSeries championships with the most recent being in 2009. That sameyear, the Yankees moved to a new stadium next door to theprevious Yankees stadium, their home from 1923 to 2008. In 2011,the Yankees had the second highest per-game attendance of all teamsin the MLB.July 2013 | 5


About NYCEDCThe New York City Economic Development Corporation is the City’s primary enginefor economic development charged with leveraging the City’s assets to drivegrowth, create jobs and improve quality of life. NYCEDC is an organizationdedicated to New York City and its people. We use our expertise to develop,advise, manage and invest to strengthen businesses and help neighborhoods thrive.We make the City stronger.About NYCEDC Economic Research & AnalysisThe Economic Research and Analysis group from NYCEDC’s Center for EconomicTransformation conducts economic analysis of New York City projects, performsindustry and economic research on topics affecting the City and tracks economictrends for the Mayor, policy-makers and the public as a whole. As part of its goalof providing up-to-date economic data, research and analysis to New Yorkers, itpublishes a monthly New York City Economic Snapshot as well as the Trends &Insights series of publications covering such topics as Tech Venture CapitalInvestment, Borough & Local Economies, and Industry Economic Sectors. It alsosponsors the Thinking Ahead series of events that brings together thoughtleaders and stakeholders to discuss and debate key issues shaping New York City'seconomic future.Economic Research & Analysis GroupMichael Moynihan, PhD, Chief Economist & Senior Vice PresidentEileen Jones, Assistant Vice PresidentEileen Tumalad, Assistant Vice PresidentAndrea Moore, Project ManagerJeffrey Bryant, Project ManagerFor more information, visit nycedc.com/NYCeconomicsContact us at NYCeconomics@nycedc.comJuly 2013 Borough Trends & Insights, authored by Jeffrey Bryant and Eileen TumaladCenter for Economic Transformation

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