BOROUGH TRENDS & INSIGHTS
Analyzing New York City's Local Economies
THE BRONX UPDATE | JULY 2013
Highlights
P.2 Office rental rate rises three
fold from 2000 to 2011
P.3 Median Bronx household
income at $32,058
P.3 Bronx unemployment rate at
12.7%
P.6 Bronx Crime rate falls 26.7%
from 2000 to 2011
P.6 Residents with a HS diploma
rises to 69.4% in 2011
Center for Economic Transformation
THE BRONX, covering a total of 42 square miles north of Manhattan and Queens, reached a population of
nearly 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 is
locally-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 borough
experienced the second highest population increase, behind only Staten
Island, among the Hispanic or Latino population with a growth rate of
13.9 percent from 2000 to 2011.
of residents speak this language at home. English is the next most
common language with 42.6 percent of Bronx residents speaking this
language at home, the lowest share of all five boroughs.
• 33.8 percent of the Bronx’s population is foreign born, an increase of
22.1 percent since 2000. Out of its 471,100 foreign born residents,
the majority (75.1 percent) are from Latin America.
• Spanish is the predominant language in the borough. The Bronx has
the highest share of Spanish speaking residents Citywide and 46.3 percent
Bronx Language Spoken at Home, 2011
Bronx Population by Race, 2011
Native Hawaiian
and Other Pacific
Islander
>0.1%
Bronx
Some other
race
0.6%
Two or more
races
1.1%
Asian
3.4%
NYC
60.0%
50.0%
40.0%
American
Indian
and Alaska
Native
0.3%
30.0%
Black or African
American
29.9%
Hispanic or
Latino
53.8%
20.0%
10.0%
White
11.1%
0.0%
English
Source: U.S. Census Bureau, American Community Survey
Spanish
Other IndoEuropean
Asian and
Pacific
Islander
Other
Languages
Source: U.S. Census Bureau, American Community Survey
July 2013 | 1
Housing and Construction
• In 2011, the Bronx median home value was $372,100, which was below
the Citywide median ($490,900). The median home value reached historic
highs during the 2007 housing boom, but has decreased gradually in
subsequent years. Specifically, the median home value has decreased by
13.1 percent, after adjusting for inflation, from 2007 to 2011.
• There are 473,656 occupied housing units in the Bronx, the fewest
outside of Staten Island. It has the lowest ownership rate of any of the
boroughs at 20.7 percent.
Median Home Value, 2000–2011
Bronx
NYC
US
$700,000
$600,000
$500,000
$400,000
• In 2011, over 3 million square feet of additional residential and
nonresidential building stock was constructed in the Bronx, which was
valued at $955 million. The number of nonresidential projects increased
by nearly 69.5 percent from 2001 to 2011. However, the number of
residential and nonbuilding (infrastructure) projects decreased by
65.9 percent and 25.5 percent, respectively over the same time period.
• Commercial space in the Bronx has also been growing. Since 2000,
office space (Class A, B, and C) increased by 14.1 percent to nearly
8.7 million square feet of Rentable Building Area (RBA) in 2011. The
vacancy rate in 2011 was 13.4 percent, the highest of any borough.
However, despite the abundance of vacant square footage, office rental
rates have nearly tripled from $10.23 per square foot in 2000 to $28.26
per square foot in 2011 (176.2 percent increase), which is the largest
percentage increase for all boroughs over that time period by a wide
margin. The next largest rise in office rental rates was in Brooklyn,
which experienced a 34.2 percent increase.
$300,000
Bronx Housing Occupancy, 2011
$200,000
$100,000
Conventional1
$0
Coop
Condominium
Mitchell Lama Coop
2000
Renter
2011
2007
Source: U.S. Census Bureau, American Community Survey; Bureau of Labor Statistics,
Consumer Price Index (MSA)
Note: Adjusted for inflation to 2011 dollars.
52,138
Renters,
79.3%
375,491
Office Rental Rates 2000–2001
$50.00
$45.00
$40.00
$35.00
$30.00
$25.00
$20.00
$15.00
$10.00
$5.00
$0.00
Brooklyn
Queens
8,385
Bronx
Manhattan
Staten Island
18,970
18,672
Source: U.S. Census Bureau, American Community Survey; New York City
Housing Vacancy Survey (NYCHVS)
Office Vacancy, Vacancy Rate and Average Rental Rate by
Type, Bronx, 2000–2001
2000
2011
2000
DIRECT
Source: CoStar
Note: Not adjusted for inflation.
Office Vacancy Rates 2000–2001
16.0%
Homeowners,
20.7%
98,165
Brooklyn
Bronx
Manhattan
Queens
Staten Island
SUBLET
14.0%
12.0%
10.0%
8.0%
TOTAL
6.0%
4.0%
2.0%
0.0%
2000
Source: CoStar
Note: Not adjusted for inflation.
2011
Class A
2011 Change
2000
Vacancy
45,000
Vacancy
Rate
3.2%
27.2%
739.5%
2.6%
13.4%
422.1%
Rental
Rate
$4.00
$29.32
633.1%
$10.23
$28.26
176.2%
0
0
0.0%
0
0
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
-
-
-
-
-
-
Vacancy
Vacancy
Rate
Rental
Rate
Vacancy
Vacancy
Rate
Rental
Rate
45,000
510,269 1033.9% 195,363
Class ABC
2011
Change
510,269 1033.9% 195,363
1,164,063 495.8%
1,164,063 495.8%
3.2%
27.2%
739.5%
2.6%
13.4%
422.1%
$4.00
$29.32
633.1%
$10.23
$28.26
176.2%
Source: CoStar
Note: Not adjusted for inflation.
The Conventional classification refers to privately owned houses or buildings which are not part of a cooperative or condominium building or
development. This category includes owner-occupied single-family houses, living quarters in partially commercial buildings, and all other types of
owner-occupied units which are not in cooperatives and condominiums.
1
July 2013 | 2
Economy and Employment
• In 2011, total private sector employment in the Bronx was 212,600. Partly
as a function of its smaller population, this was the lowest of all
boroughs except Staten Island. However, between 2000 and 2011, private
employment increased at a faster rate than the City as a whole, at
12.4 percent compared to 2.4 percent. The Finance and Insurance sector
experienced the largest percentage growth (46.4 percent), followed by
the Accommodation and Food Services sector (39.4 percent), and
Professional and Business sector (30.0 percent). However, the rise in total
private sector employment in the Bronx was fueled by the growth in the
Health Care and Social Assistance sector, which gained over 15,000 jobs
from 2000 to 2011.
• Consistent with the City’s economy, the Bronx’s economy has a high
concentration of jobs in the Services and Trade sectors. In 2011, these
two sectors represented 77.7 percent of the borough’s total private
employment, compared to 68.2 percent Citywide. Within the Services
sector, the Health Care and Social Assistance sector had the highest
level of employment in the Bronx, comprising 39.0 percent of total
private sector employment.
• Between 2000 and 2011, average private sector wages increased from
$42,700 to $43,000 (0.7 percent), the largest growth of all boroughs
outside of Manhattan, after adjusting for inflation. The Educational
Services sector experienced the largest increase in average wages
between 2000 and 2011 (45.9 percent), after adjusting for inflation.
The Arts, Entertainment, and Recreation sector also experienced
significant real wage increases of 6.1 percent.
• In 2011, households in the Bronx had a median income of $32,058
and per capita income was $16,879.
• The Bronx resident unemployment rate was 12.7 percent on average
in 2012, the highest of all boroughs, remaining above the citywide rate
of 9.2 percent.
Bronx Payroll Employment, Average Wages and Establishments, 2000-2011
Sector
FIRE
Finance and Insurance
Real Estate and Rental and Leasing
SERVICES
Information
Professional & Business
Educational Services
Health Care and Social Assistance
Arts, Entertainment, and Recreation
Accommodation and Food Services
Other Services (except Public Admin.)
TRADE
Retail
Wholesale
MANUFACTURING
CONSTRUCTION
TOTAL PRIVATE
GOVERNMENT
TOTAL (PRIVATE & GOVERNMENT)
Employment
2011
Change
2000–2011
Average Wages
2011
Change
2000–2011
Establishments
2011
Change
2000–2011
13,500
4,100
9,400
128,300
3,200
3,900
14,100
82,900
3,000
13,100
8,100
36,800
27,100
9,700
6,500
8,900
212,600
22,000
234,600
2.3%
46.4%
-9.6%
19.9%
-23.8%
30.0%
19.5%
22.3%
7.1%
39.4%
2.5%
12.9%
21.5%
-5.8%
-40.9%
-17.6%
12.4%
-7.9%
10.1%
$39,200
$43,800
$37,200
$44,500
$59,700
$44,100
$56,300
$45,900
$97,000
$17,800
$27,400
$34,600
$26,500
$57,300
$41,000
$65,000
$43,000
$67,800
$45,400
2.6%
-5.2%
3.0%
4.5%
-4.8%
-8.5%
45.9%
2.2%
6.0%
-1.7%
-4.2%
-8.0%
-7.0%
0.0%
-3.8%
1.9%
0.7%
14.3%
1.8%
2,600
500
2,100
6,500
100
700
250
2,000
120
1,500
1,900
4,100
3,500
600
400
1,030
16,400
100
16,500
-10.3%
25.0%
-16.0%
22.6%
-9.1%
40.0%
31.6%
25.0%
9.1%
36.4%
5.6%
7.9%
12.9%
-14.3%
-20.0%
3.0%
13.1%
233.3%
13.8%
Source: New York State Department of Labor, Quarterly Census of Employment and Wages; Bureau of Labor Statistics, Consumer Price Index (MSA)
Note: Adjusted for inflation to 2011 dollars. Rows may not sum to total due to rounding.
12-Month Moving Average Resident Employment and Unemployment Rate, 2002–2013
14.5
490,000
12.5
480,000
Bronx Resident Employment
10.5
470,000
Bronx Unemployment Rate
8.5
460,000
NYC Unemployment Rate
6.5
450,000
4.5
440,000
2.5
430,000
Source: New York State Department of Labor, Current Employment Statistics
July 2013 | 3
Commuting
• Bronx subway ridership is the lowest of all five boroughs with
approximately 403,000 riders entering Bronx subway stations during
the average weekday and nearly 238,000 during the average weekend
in 2010. Bronx ridership accounted for 8.7 percent of total city subway
ridership in 2010.
• Ridership growth rates at the Bronx subway stations vary dramatically,
ranging from an increase of 75.5 percent at the Elder Avenue station
Bronx Weekday and Weekend Subway Ridership,
1990–2010
Weekday
to a decrease of 57.3 percent at the Morrison-Sound View Avenues
station between 2000 and 2010. The busiest station in the Bronx was
161 St-Yankee Stadium with nearly 7.9 million subway riders in 2010.
• Between 2000 and 2011, Bronx residents experienced a decrease in
commuting time. The mean travel time to work decreased from
43 minutes to 41.7 minutes respectively. The majority of Bronx residents
took public transportation to work (58 percent) in 2011.
Workers 16 and Over Transportation to Work,
Bronx, 2011
Weekend
450,000
Public Transportation
58.0%
400,000
Drove Alone
350,000
300,000
Walked
250,000
200,000
Carpooled
22.6%
8.4%
5.0%
150,000
100,000
50,000
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
0
Source: Metropolitan Transportation Authority
Worked at home
3.6%
Taxicab, motorcycle,
or other means
2.1%
Bicycle
0.3%
Source: US Census Bureau, American Community Survey
July 2013 | 4
Commuting continued
Bronx Top 5 Stations Annual Ridership by Growth, 2000-2010
Bronx Bottom 5 Stations Annual Ridership by Growth, 2000-2010
Station
Station
2000
2010
Change
2000–2010
Elder 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 Authority
Note: Does not include student ridership
2000
2010
Change
2000–2010
Morrison-Sound
View 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 Authority
Note: Does not include student ridership.
Culture and Recreation
• The Bronx is home to a number of cultural and recreational landmarks
that attract visitors from across the City as well as the nation. These
attractions range from historic sites and parks to a Major League
Baseball (MLB) stadium.
• There are a number of public parks in the Bronx. Two of the largest in
the City are Pelham Bay Park and Van Cortlandt Park. At more than
three times the size of Central Park, Pelham Bay Park is actually the
largest public park in New York City. A portion of the park, Rodman’s
Neck, is a permanent training facility and firing range established by
the New York Police Department. Also located in Pelham Bay Park is
the Bartow-Pell Mansion, which was built between 1836 and 1842 and
is a National Historic Landmark. Van Cortlandt Park is the fourth largest
park 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 seen
via indoor and outdoor exhibits.
• The New York Botanical Garden covering 250 acres of the Bronx is
one of the leading horticultural museums and plant laboratories in
the United States. The facility is home to 50 plant collections from
tropical flowers to forest trees and one the country’s largest plant
research organizations.
• The Bronx is also home to the New York Yankees, part of the American
League East Division of MLB. The Yankees have won several World
Series championships with the most recent being in 2009. That same
year, the Yankees moved to a new stadium next door to the
previous Yankees stadium, their home from 1923 to 2008. In 2011,
the Yankees had the second highest per-game attendance of all teams
in the MLB.
July 2013 | 5
Crime, Education and Health
• Between 2001 and 2011, crime decreased 26.7 percent in the Bronx.
This was the second lowest decrease in crime among the five boroughs,
ahead of Staten Island (24.2 percent).
Bronx Number of Crimes, 2001–2011
2001
• Educational attainment of Bronx residents has been rising. The
percentage of Bronx residents aged 25 and over with at least a High
School Diploma or GED increased from 62.4 percent to 69.4 percent
from 2000 to 2011 and the percentage with at least a Bachelor’s
Degree increased from 14.6 percent to 17.4 percent over the
same period.
Murder
• There were nearly 6,500 fewer Bronx residents enrolled in high school
in 2011 than there were in 2000. However, all boroughs except for
Staten Island also experienced a decrease in high school enrollment
over this period and the Bronx was the smallest among them in
percentage terms (-6.8 percent). The borough also experienced the
highest increase of those enrolled in Undergraduate College or
University (25.3 percent) from all boroughs outside of Staten Island.
Between 2000 and 2011 enrollment in a Graduate or Professional
School increased by 0.8 percent.
• Many institutions of higher education are located in the Bronx. These
include Fordham University, City University of New York, Hostos and
Bronx Community College, Hunter College, The College of Mount Saint
Vincent, Manhattan College and The State University of New York
Maritime College offering undergraduate and graduate education.
• The majority of Brooklyn residents rated their health as good or better
(74.7 percent), which was below the citywide rate (79.1 percent).
Bronx Population 3 Years and Over Enrollment by
Education Level 2011
2000
Less than High School
2011
Change
2000-2011
208,168
238,619
14.6%
High School
94,481
88,024
-6.8%
Undergraduate College
or University
70,836
88,782
25.3%
Graduate or
Professional School
15,178
2011
190
Rape
% of
City Total
Change
2001-2011
148
29%
-22%
502
272
19%
-46%
5,178
4,578
23%
-12%
Fel. Assault
5,335
4,467
24%
-16%
Burglary
5,813
3,546
19%
-39%
Gr. Larceny
4,373
4,899
13%
12%
Robbery
G.L.A.
5,522
2,089
22%
-62%
Total
26,913
19,999
19%
-26%
Source: NYPD Comp Stat
Note: G.L.A is Grand Larceny Auto
Bronx Population 25 and Over Educational Attainment,
2000–2001
2000
2011
Change
2001-2011
Less Than HS Diploma
299,686
264,454
-11.8%
HS Graduate OR GED
205,246
237,307
15.6%
Some College or
Associates Degree
176,456
209,583
18.8%
Bachelors Degree
69,854
95,855
37.2%
Graduate or
Professional Degree
46,550
53,947
15.9%
797,792
861,146
7.9%
Total
Source: U.S. Census Bureau, American Community Survey
Residents Health Status, 2010
Bronx
NYC
40.00%
15,301
Source: U.S. Census Bureau, American Community Survey
0.8%
35.00%
30.00%
25.00%
20.00%
15.00%
10.00%
5.00%
0.00%
Excellent
Very Good
Good
Fair or Poor
Source: NYC Department of Health and Mental Hygiene, Community Health Survey
July 2013 | 6
July 2013 | 7
About NYCEDC
The New York City Economic Development Corporation is the City’s primary engine
for economic development charged with leveraging the City’s assets to drive
growth, create jobs and improve quality of life. NYCEDC is an organization
dedicated 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 & Analysis
The Economic Research and Analysis group from NYCEDC’s Center for Economic
Transformation conducts economic analysis of New York City projects, performs
industry and economic research on topics affecting the City and tracks economic
trends for the Mayor, policy-makers and the public as a whole. As part of its goal
of providing up-to-date economic data, research and analysis to New Yorkers, it
publishes a monthly New York City Economic Snapshot as well as the Trends &
Insights series of publications covering such topics as Tech Venture Capital
Investment, Borough & Local Economies, and Industry Economic Sectors. It also
sponsors the Thinking Ahead series of events that brings together thought
leaders and stakeholders to discuss and debate key issues shaping New York City's
economic future.
Economic Research & Analysis Group
Michael Moynihan, PhD, Chief Economist & Senior Vice President
Eileen Jones, Assistant Vice President
Eileen Tumalad, Assistant Vice President
Andrea Moore, Project Manager
Jeffrey Bryant, Project Manager
For more information, visit nycedc.com/NYCeconomics
Contact us at [email protected]
July 2013 Borough Trends & Insights, authored by Jeffrey Bryant and Eileen Tumalad
Center for Economic Transformation