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Real Estate Prices & Overview

South Ironbound median real estate price is $534,686, which is more expensive than 39.5% of the neighborhoods in New Jersey and 68.8% of the neighborhoods in the U.S.

The average rental price in South Ironbound is currently $2,990, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 67.6% of New Jersey neighborhoods.

South Ironbound is a densely urban neighborhood (based on population density) located in Newark, New Jersey.

South Ironbound 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 South Ironbound 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.

Real estate vacancies in South Ironbound are 3.5%, which is lower than one will find in 74.8% of American neighborhoods. Demand for real estate in South Ironbound is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

Notable & Unique Neighborhood Characteristics

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 South Ironbound neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Modes of Transportation

In the South Ironbound neighborhood, carpooling is still a popular way to get to and from work. NeighborhoodScout's analysis reveals that 39.8% of commuters carpool here, which is more than in 99.7% of all U.S. neighborhoods.

Occupations

More people work in manufacturing and as laborers here in the South Ironbound neighborhood than in 98.1% of the neighborhoods in America. Despite the loss of manufacturing jobs across the nation, this neighborhood remains a place where, compared to other parts of the country, you will find many laborers and manufacturers.

Real Estate

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 South Ironbound 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, 44.4% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 97.9% of America's neighborhoods.

In addition, renter-occupied real estate is dominant in the South Ironbound neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 85.2%, which is higher than 95.4% 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.

People

With a nice mix of college students, safety from crime, and decent walkability, the South Ironbound neighborhood rates highly as a college student friendly place to live, and one that college students and their parents may want to consider. NeighborhoodScout's analysis shows that it rates more highly for a good place for college students to live than 85.3% of the neighborhoods in NJ. This often also means that the area has certain amenities and services geared towards college students, from undergraduates to graduate students.

Diversity

Did you know that the South Ironbound neighborhood has more Brazilian and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 22.0% of this neighborhood's residents have Brazilian ancestry and 27.4% have South American ancestry.

South Ironbound is also pretty special linguistically. Significantly, 19.3% 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 99.9% of the neighborhoods in America.

Migration / Stability

The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. What is interesting to note, is that the South Ironbound neighborhood has a greater percentage of residents born in another country (56.5%) than are found in 98.7% of all U.S. neighborhoods.

The Neighbors

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 South Ironbound neighborhood in Newark are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 40.6% of the neighborhoods in America. With 28.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 80.5% of U.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 South Ironbound neighborhood, 46.5% 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 29.7% of the residents employed. Other residents here are employed in executive, management, and professional occupations (15.1%), and 6.9% in clerical, assistant, and tech support 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 South Ironbound neighborhood is Spanish, spoken by 47.2% of households. Other important languages spoken here include Portuguese, English and African languages.

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 South Ironbound neighborhood in Newark, NJ, residents most commonly identify their ethnicity or ancestry as South American (27.4%). There are also a number of people of Brazilian ancestry (22.0%), and residents who report Portuguese roots (6.9%), and some of the residents are also of Puerto Rican ancestry (3.2%), along with some Mexican ancestry residents (2.8%), among others. In addition, 56.5% of the residents of this neighborhood were born in another country.

Getting to Work

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 South Ironbound neighborhood spend between 30 and 45 minutes commuting one-way to work (43.0% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (47.9%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (39.8%) and 5.4% of residents also ride the bus 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.

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