The Commons at Bay Street median real estate price is $863,483, which is more expensive than 80.1% of the neighborhoods in New Jersey and 87.0% of the neighborhoods in the U.S.
The average rental price in The Commons at Bay Street is currently $3,864, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 69.8% of the neighborhoods in New Jersey.
The Commons at Bay Street is a densely urban neighborhood (based on population density) located in Montclair, New Jersey.
The Commons at Bay Street 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 The Commons at Bay Street neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 2000 and the present.
In The Commons at Bay Street, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in The Commons at Bay Street 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.
This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the The Commons at Bay Street neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.
In addition, the The Commons at Bay Street 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 84.6% 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.
If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 19.6% of the The Commons at Bay Street neighborhood's commuters ride the train to and from work each day, which is more than we found in 97.5% of America's neighborhoods.
One of the most interesting things about the The Commons at Bay Street neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 49.8% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 95.2% of the neighborhoods in America.
Did you know that the The Commons at Bay Street neighborhood has more South American and Scots-Irish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.0% of this neighborhood's residents have South American ancestry and 2.9% have Scots-Irish ancestry.
The Commons at Bay Street is also pretty special linguistically. Significantly, 1.9% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 98.5% of the neighborhoods in America.
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 The Commons at Bay Street neighborhood in Montclair are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 69.2% of the neighborhoods in America. With 29.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 81.4% of U.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 The Commons at Bay Street neighborhood, 68.7% 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 17.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (10.6%), and 2.9% in manufacturing and laborer 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 The Commons at Bay Street neighborhood is English, spoken by 85.0% of households. Other important languages spoken here include Spanish and Polish.
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 The Commons at Bay Street neighborhood in Montclair, NJ, residents most commonly identify their ethnicity or ancestry as Irish (15.3%). There are also a number of people of Italian ancestry (9.5%), and residents who report German roots (7.4%), and some of the residents are also of English ancestry (7.3%), along with some South American ancestry residents (7.0%), among others. In addition, 16.5% of the residents of this neighborhood were born in another country.
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 The Commons at Bay Street neighborhood spend between 15 and 30 minutes commuting one-way to work (32.0% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (44.5%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (19.6%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.