Newark St / Park Ave median real estate price is $1,057,855, which is more expensive than 89.6% of the neighborhoods in New Jersey and 91.4% of the neighborhoods in the U.S.
The average rental price in Newark St / Park Ave is currently $5,016, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 94.4% of the neighborhoods in New Jersey.
Newark St / Park Ave is a densely urban neighborhood (based on population density) located in Hoboken, New Jersey.
Newark St / Park Ave real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Newark St / Park Ave neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built before 1940.
Home and apartment vacancy rates are 6.6% in Newark St / Park Ave. NeighborhoodScout analysis shows that this rate is lower than 55.0% of the neighborhoods in the nation, approximately near the middle range for vacancies.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Newark St / Park Ave neighborhood has a highly unusual pattern of car ownership. 53.3% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.9% of U.S. neighborhoods.
In the Newark St / Park Ave neighborhood, 37.5% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 98.8% of the neighborhoods in America.
Also, a unique way of commuting is simply not to. And in the Newark St / Park Ave neighborhood, analysis shows that 36.1% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 98.0% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
The Newark St / Park Ave neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 56,756 persons per square mile in the neighborhood, it is more packed with people than 98.7% of the nation's neighborhoods. Being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the Newark St / Park Ave neighborhood is one of the most walkable neighborhoods in America.
In addition, the Newark St / Park Ave neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 93.4% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
Furthermore, the real estate in the Newark St / Park Ave neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 82.4% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 97.1% of American neighborhoods.
Think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the Newark St / Park Ave neighborhood: a neighborhood in which more "urban sophisticates" live than 98.6% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for young, single professionals.
In addition, if you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 3.7% of America's neighborhoods are wealthier than the Newark St / Park Ave neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe.
Also, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 75.4% of the adults living in the Newark St / Park Ave neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 96.1% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
Executives, managers and professionals make up 71.3% of the workforce in the Newark St / Park Ave neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 95.7% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Did you know that the Newark St / Park Ave neighborhood has more Yugoslav and Romanian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.1% of this neighborhood's residents have Yugoslav ancestry and 1.4% have Romanian ancestry.
Newark St / Park Ave is also pretty special linguistically. Significantly, 1.3% of its residents five years old and above primarily speak Greek at home. While this may seem like a small percentage, it is higher than 97.9% of the neighborhoods in America.
The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the Newark St / Park Ave neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 96.9% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the Newark St / Park Ave neighborhood in Hoboken are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 96.3% of the neighborhoods in America. With 10.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 52.2% of U.S. neighborhoods.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the Newark St / Park Ave neighborhood, 71.3% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 16.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (7.4%), and 5.3% in manufacturing and laborer occupations.
Languages
The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Newark St / Park Ave neighborhood is English, spoken by 60.1% of households. Other important languages spoken here include Spanish, Chinese, Langs. of India and Korean.
Ethnicity / Ancestry
Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.
In the Newark St / Park Ave neighborhood in Hoboken, NJ, residents most commonly identify their ethnicity or ancestry as Italian (17.5%). There are also a number of people of Irish ancestry (13.8%), and residents who report Asian roots (10.9%), and some of the residents are also of Polish ancestry (4.0%), along with some Dominican ancestry residents (3.9%), among others. In addition, 26.9% of the residents of this neighborhood were born in another country.
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Newark St / Park Ave neighborhood spend between 30 and 45 minutes commuting one-way to work (32.0% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (37.5%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (11.6%) and 9.0% of residents also hop out the door and walk to work for their daily commute. This neighborhood is distinguished by the high number of residents who take the train to work each day, which can be a very good way to get to work at a lower cost and with less pollution.
