Everything You Should Know Before Moving to Canal Street, NY
Considering a move to Canal Street, NY? This vibrant neighborhood of about 32,000 residents offers dynamic city living with a median home value around $1.1 million and typical rents near $3,100. You'll find excellent access to public transit (over 50% usage), diverse cultures, and top-notch schools, with over half the adults holding bachelor’s degrees or higher. Expect short commutes, a lively atmosphere, and a walkable, urban lifestyle—plus a mild climate and plenty of sunny days to enjoy everything the city has to offer.
Demographics - Canal Street, NY
Demographics - Canal Street, NY
Canal Street, NY is home to approximately 32,000 residents, with a diverse population that includes significant White, Asian, and other ethnic groups. The median age is 36.2 years, and nearly 30% of residents speak a language other than English at home, reflecting the area's multicultural character. With a population density of 18,000 per square mile, the neighborhood offers a vibrant urban experience.
Population:
32,000
Density:
18,000 per sq mi
Median Age:
36.2
Gender Ratio:
96 males per 100 females
Non-English Speakers Percentage:
29.5%
Ethnic Composition
White:
38.0%
Black:
7.0%
Asian:
31.5%
Others:
23.5%
Cost Of Living
What is the average cost of living in Canal Street, NY?
Living in Canal Street comes with a high cost of living, marked by a median home value of $1,120,000 and median rents around $3,100 per month. The overall cost of living index is 187.3, notably higher than the national average, with housing and groceries as major contributors. Residents should also consider New York's state tax rates, which can reach up to 10.9%.
Median House Value:
$1,120,000
Gross Rent:
$3,100
Monthly Electricity Charges:
$120
Auto Insurance:
$2,050
House Owner Cost With Mortgage:
$4,300
House Owner Cost Without Mortgage:
$1,150
State Taxes:
Low:
4%
|
High:
10.9%
Cost Of Living Index:
187.3
Grocery:
145.2
Housing:
260.7
Utilities:
128.4
Transportation:
131.6
Health Care:
121.3
Miscellaneous:
115.5
Crime
Is Canal Street, NY a safe place to live?
Canal Street experiences moderate crime rates, with about 295 violent crimes and 1,810 property crimes per 100,000 residents annually. The chance of being a victim of a violent crime here is roughly 1 in 339, while property crime risk stands at 1 in 55. This urban neighborhood is generally safe but benefits from typical city vigilance.
Violent Crimes Per 100k:
295
Property Crimes Per 100k:
1,810
Crime Index:
2,105
Chance Of Violent Crime:
1 in 339
Chance Of Property Crime:
1 in 55
Weather
What is the weather like in Canal Street, NY year-round?
The area enjoys four distinct seasons, with mild winters averaging lows of 28°F and warm summers reaching up to 86°F. Canal Street gets about 50 inches of rainfall each year and sees sunshine approximately 58% of the time. The generally pleasant weather supports an active, walkable lifestyle.
Winter
Min:
28°F
Max:
42°F
Spring
Min:
47°F
Max:
69°F
Summer
Min:
68°F
Max:
86°F
Fall
Min:
51°F
Max:
71°F
Average Rainfall Inches:
49.9 inches
Sunny Days Percentage:
58%
Neighbors
Residents of Canal Street have a median household income of $94,100 and a family income of $103,500, with about 54% using public transportation for their daily commute. The community is well-educated, with over half of adults holding a bachelor’s degree or higher, and the average commute time is just over 31 minutes. Despite a poverty rate of 13.2%, the area offers strong economic and cultural diversity.
Median Income:
$54,500
Household Income:
$94,100
Family Income:
$103,500
Per Capita Income:
$48,800
Income Male:
$56,400
Income Female:
$50,300
Poverty Rate:
13.2%
Non English Speakers:
29.5%
Rent:
$3,100
Unemployment Rate:
4.8%
Public Transport Usage:
54.0%
Commute Time:
31.2 minutes
Education
High School or Higher:
91.7%
Bachelors or More:
53.1%
Education
How are the schools in Canal Street, NY?
Canal Street offers access to quality education, with public schools like PS 130 and PS 124 maintaining favorable student-teacher ratios and serving hundreds of local students. Families also benefit from nearby private options and prestigious higher education institutions such as New York University just a mile away. The area's strong educational resources contribute to its appeal for students and professionals alike.
Public Schools
Name:
PS 130 Hernando De Soto
Street:
143 Baxter St
Phone:
212-226-8076
Students:
517
Student Teacher Ratio:
14.1
Name:
PS 124 Yung Wing
Street:
40 Division St
Phone:
212-966-7237
Students:
750
Student Teacher Ratio:
13.4
Private Schools
Name:
Transfiguration School
Street:
29 Mott St
Phone:
212-962-5157
Students:
300
Colleges
Name:
New York University
City:
New York
State:
NY
Distance:
1 mile
Students:
54,000
Name:
Pace University
City:
New York
State:
NY
Distance:
1.2 miles
Students:
13,600
Healthcare
Healthcare in Canal Street is robust, with major hospitals like NYC Health + Hospitals/Bellevue and NewYork-Presbyterian Lower Manhattan Hospital close by, both offering emergency services. The area enjoys high health insurance coverage at 91.2% and a strong physician presence, supporting residents’ well-being. These resources make quality healthcare readily accessible for local families.
Major Hospitals
Name:
NYC Health + Hospitals/Bellevue
Address:
462 First Avenue, New York, NY 10016
Phone:
(212) 562-5555
Type:
General & Surgical
Emergency Services:
Yes
Name:
NewYork-Presbyterian Lower Manhattan Hospital
Address:
170 William St, New York, NY 10038
Phone:
(212) 312-5000
Type:
General & Surgical
Emergency Services:
Yes
Physicians Per 1000:
4.3
Health Insurance Coverage:
91.2%
Health Care Index:
81.2
Housing Market
What is the housing market like in Canal Street, NY?
The housing market in Canal Street is competitive, featuring a median home price of $1,120,000 and average rent for a two-bedroom at $3,100. Homeownership is less common, with only 23.5% of housing owner-occupied, reflecting a primarily renter-based community. Low foreclosure and vacancy rates suggest stable demand and ongoing appreciation in property values.
Median Home Price:
$1,120,000
Average Rent For 2 Bedroom:
$3,100
Owner Occupied Rate:
23.5%
Rental Vacancy Rate:
4.8%
Home Appreciation Rate (1yr):
5.2%
New Construction Rate:
2.0%
Foreclosure Rate:
0.3%
DMV Information
Residents are served by the New York State Department of Motor Vehicles at 11 Greenwich St, making it convenient for all vehicle registration and licensing needs. The DMV offers comprehensive resources both in-person and online, streamlining essential services for Canal Street locals. For information or appointments, visit the state DMV website or call the local office.
State:
New York
Department:
New York State Department of Motor Vehicles
Address:
11 Greenwich St, New York, NY 10004
Phone:
1-212-645-5550
Website:
Disclaimer: The information provided on this page is based on publicly available sources including AccuWeather, U.S. Census Bureau, local government data, and third-party partners such as Neustar. While we strive to ensure accuracy, all data is provided “as is” and should be independently verified before making any decisions. Movers.com makes no guarantees regarding the completeness or reliability of the information.