Oak Island Junction median real estate price is $597,030, which is more expensive than 50.6% of the neighborhoods in New Jersey and 74.0% of the neighborhoods in the U.S.
The average rental price in Oak Island Junction is currently $3,935, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 71.9% of the neighborhoods in New Jersey.
Oak Island Junction is a remote neighborhood (based on population density) located in Newark, New Jersey. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Oak Island Junction real estate is primarily made up of small (studio to two bedroom) small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Oak Island Junction neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.
In Oak Island Junction, 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 Oak Island Junction is very tight compared to the demand for property here.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Newark, the Oak Island Junction neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Uncrowded roads, rural America and space to be the individual you are. If you like these characteristics, this neighborhood may fit you. With just 2 residents per square mile, Oak Island Junction is less crowded than 99.2% of all U.S. neighborhoods. Oak Island Junction is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, Oak Island Junction is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.
In addition, renter-occupied real estate is dominant in the Oak Island Junction neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 100.0%, which is higher than 99.3% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so. With a real estate vacancy rate of only 0.0%, the Oak Island Junction neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.
Furthermore, three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The Oak Island Junction neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 100.0% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 100.0% of America's neighborhoods.
Also of note, most neighborhoods are composed of a mixture of ages of homes, but the Oak Island Junction stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 100.0% of the residential real estate here was built in this one time period.
Finally, the Oak Island Junction 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 100.0% 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.
Of note is NeighborhoodScout's research finding that the Oak Island Junction neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Oak Island Junction community truly stands out from the rest in this regard.
In addition, neighborhoodScout's exclusive research revealed that 100.0% of the adult residents in the Oak Island Junction neighborhood do not have a 4-year college degree, which is a lower rate of college graduated adults than found in 100.0% of the neighborhoods in America.
Also, astoundingly, the Oak Island Junction neighborhood has one of the highest concentrations of divorcees living here than of any neighborhood, a higher concentration than NeighborhoodScout found in 100.0% of U.S. neighborhoods. This may be because people living here divorce more often than others, or that divorced people move here after they become divorced. If you are divorced, you will be in good company in this particular Newark neighborhood.
Our research shows that more people carpool to work here in the Oak Island Junction (100.0%) than in 100.0% of the neighborhoods in America.
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Oak Island Junction neighborhood have a highly unusual car ownership. 100.0% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 100.0% of U.S. neighborhoods.
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Oak Island Junction neighborhood. More residents of the Oak Island Junction neighborhood live here today that also were living in this same neighborhood five years ago than is found in 100.0% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while. What is interesting to note, is that the Oak Island Junction neighborhood has a greater percentage of residents born in another country (100.0%) than are found in 100.0% of all U.S. neighborhoods.
Did you know that the Oak Island Junction neighborhood has more Italian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 100.0% of this neighborhood's residents have Italian ancestry.
Oak Island Junction is also pretty special linguistically. Significantly, 100.0% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 100.0% of all U.S. neighborhoods.
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 Oak Island Junction neighborhood in Newark are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 100.0% of U.S. neighborhoods. In addition, 0.0% 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 100.0% of America's neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the Oak Island Junction neighborhood, 100.0% of the working population is employed in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Oak Island Junction neighborhood is Spanish, spoken by 100.0% of households.
Ethnicity / Ancestry
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the Oak Island Junction neighborhood in Newark, NJ, residents most commonly identify their ethnicity or ancestry as Italian (100.0%). In addition, 100.0% 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 Oak Island Junction neighborhood spend between 15 and 30 minutes commuting one-way to work (100.0% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (100.0%) carpool with coworkers, friends, or neighbors to get to work. Despite relying on the automobile to get to work, residents of this neighborhood share the ride more than most neighborhoods, reducing traffic, pollution, and saving money.
