River Bank Park median real estate price is $687,611, which is more expensive than 63.5% of the neighborhoods in New Jersey and 79.1% of the neighborhoods in the U.S.
The average rental price in River Bank Park is currently $3,015, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 66.6% of New Jersey neighborhoods.
River Bank Park is an urban neighborhood (based on population density) located in Newark, New Jersey.
River Bank Park 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 River Bank Park neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
River Bank Park has a 11.0% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 68.3% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
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 River Bank Park neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Our research shows that more people carpool to work here in the River Bank Park (37.8%) than in 99.6% of the neighborhoods in America.
Also, would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the River Bank Park neighborhood is a fantastic option for bicycle commuters, as 8.8% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 99.5% of the neighborhoods in America.
Finally, in the River Bank Park neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 10.3% of residents here. This is a higher proportion of walking commuters than we found in 95.0% of American neighborhoods. Get ready to put on your walking shoes if you move here!
NeighborhoodScout's exclusive research identifies the River Bank Park neighborhood as having one of the highest concentrations of people employed in manufacturing or as laborers of any neighborhood in America. In fact, despite the loss of manufacturing jobs nationally, this neighborhood has 51.2% of its working residents employed in such fields, which is a higher proportion than 99.2% of American neighborhoods.
Corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the River Bank Park neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 45.6% of the real estate here is made up of such dwellings, which is higher than 98.0% of all U.S. neighborhoods.
In addition, 84.6% of the real estate in the River Bank Park neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
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 River Bank Park neighborhood has a highly unusual pattern of car ownership. 33.2% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.5% of U.S. neighborhoods.
Single parenting is hard. But you don't have to tell the River Bank Park neighborhood about it; they already know. 19.0% of this neighborhood's households are run by single mothers, which is a higher concentration than NeighborhoodScout found in 96.4% of American neighborhoods. Further NeighborhoodScout research showed strong statistical correlations among high rates of children living in single parent households, and neighborhood crime, particularly violent crime, neighborhood poverty, and, importantly, the percentage of low weight births and rates of infant mortality.
Did you know that the River Bank Park neighborhood has more Brazilian and Portuguese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 24.5% of this neighborhood's residents have Brazilian ancestry and 6.4% have Portuguese ancestry.
River Bank Park is also pretty special linguistically. Significantly, 24.8% of its residents five years old and above primarily speak Portuguese at home. While this may seem like a small percentage, it is higher than 100.0% of the neighborhoods in America.
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. What is interesting to note, is that the River Bank Park neighborhood has a greater percentage of residents born in another country (62.8%) than are found in 99.3% 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 River Bank Park neighborhood in Newark are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 83.9% of U.S. neighborhoods. With 17.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 65.1% 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 River Bank Park neighborhood, 51.2% of the working population is employed in manufacturing and laborer 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 24.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (12.7%), and 11.8% in executive, management, and professional 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 River Bank Park neighborhood is Spanish, spoken by 50.4% of households. Other important languages spoken here include Portuguese, English and French.
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 River Bank Park neighborhood in Newark, NJ, residents most commonly identify their ethnicity or ancestry as Brazilian (24.5%). There are also a number of people of South American ancestry (18.5%), and residents who report Puerto Rican roots (9.6%), and some of the residents are also of Dominican ancestry (9.5%), along with some Portuguese ancestry residents (6.4%), among others. In addition, 62.8% 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 River Bank Park neighborhood spend between 15 and 30 minutes commuting one-way to work (38.9% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (37.8%) carpool with coworkers, friends, or neighbors to get to work. In addition, quite a number also drive alone in a private automobile to get to work (29.0%) and 10.3% of residents also hop out the door and walk to work for their daily commute. 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.
