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.
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.
Unpopulated, and rural, the Oak Island Junction neighborhood is one of the least crowded neighborhoods in all of America. If you like open space, no traffic, and lots of room, this neighborhood may be just what you are looking for. According to NeighborhoodScout's leading research, this neighborhood is less densely populated than 99.2% of the neighborhoods in America. Do you like a coastal setting? If so, this neighborhood may be to your liking. The Oak Island Junction neighborhood is on the ocean, a bay, or inlet. Often such coastal places have amenities and recreational activities on the waterfront that are attractive to residents and visitors alike. 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, 100.0% of the real estate in the Oak Island Junction neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America. 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, the Oak Island Junction neighborhood is unique for having just 0.0% of adults here having earned a bachelor's degree. This is a lower rate of college graduates than NeighborhoodScout found in 100.0% of America's neighborhoods.
Also, divorcees may find friendship and understanding in this neighborhood, as 100.0% of its residents are divorced. NeighborhoodScout's exclusive analysis found that this divorce rate is higher than in 100.0% of the neighborhoods in America.
In the Oak Island Junction neighborhood, carpooling is still a popular way to get to and from work. NeighborhoodScout's analysis reveals that 100.0% of commuters carpool here, which is more than in 100.0% of all U.S. neighborhoods.
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.
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 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
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 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.
