Fairwoods / Drew University median real estate price is $1,087,374, which is more expensive than 89.6% of the neighborhoods in New Jersey and 91.5% of the neighborhoods in the U.S.
The average rental price in Fairwoods / Drew University is currently $4,159, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 83.9% of the neighborhoods in New Jersey.
Fairwoods / Drew University is a suburban neighborhood (based on population density) located in Madison, New Jersey.
Fairwoods / Drew University real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Fairwoods / Drew University neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 and the present.
In Fairwoods / Drew University, the current vacancy rate is 1.9%, which is a lower rate of vacancies than 86.5% of all neighborhoods in the U.S. This means that the housing supply in Fairwoods / Drew University is very tight compared to the demand for property here.
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
One of the really interesting characteristics about the Fairwoods / Drew University neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 1.2% of college-friendly places to live in the state of New Jersey. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for young, single professionals and urban sophisticates.
In addition, an extraordinary 30.1% of the residents of the Fairwoods / Drew University neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.
Also, 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 5.0% of America's neighborhoods are wealthier than the Fairwoods / Drew University 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.
More people in Fairwoods / Drew University choose to walk to work each day (18.6%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Also, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 9.1% of the Fairwoods / Drew University neighborhood's commuters ride the train to and from work each day, which is more than we found in 95.1% of America's neighborhoods.
Did you know that the Fairwoods / Drew University neighborhood has more Croatian and Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 0.9% of this neighborhood's residents have Croatian ancestry and 0.7% have Armenian ancestry.
Fairwoods / Drew University is also pretty special linguistically. Significantly, 0.9% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 97.4% of the neighborhoods in America.
There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.
The neighbors in the Fairwoods / Drew University neighborhood in Madison 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 95.0% of the neighborhoods in America. In addition, 3.5% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 69.2% of America's neighborhoods.
The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.
In the Fairwoods / Drew University neighborhood, 61.4% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 14.8% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (13.8%), and 10.0% in clerical, assistant, and tech support occupations.
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 Fairwoods / Drew University neighborhood is English, spoken by 87.6% of households. Other important languages spoken here include Spanish and Chinese.
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the Fairwoods / Drew University neighborhood in Madison, NJ, residents most commonly identify their ethnicity or ancestry as Irish (19.2%). There are also a number of people of Italian ancestry (14.6%), and residents who report German roots (13.9%), and some of the residents are also of English ancestry (9.8%), along with some Polish ancestry residents (5.7%), among others.
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Fairwoods / Drew University neighborhood spend under 15 minutes commuting one-way to work (42.4% of working residents), one of the shortest commutes across America.
Here most residents (49.2%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (18.6%) and 9.1% of residents also take the train for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.