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Real Estate Prices & Overview

Broadway Ave / Madison Ave median real estate price is $348,689, which is less expensive than 80.5% of New Jersey neighborhoods and 57.4% of all U.S. neighborhoods.

The average rental price in Broadway Ave / Madison Ave is currently $2,750, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 75.8% of New Jersey neighborhoods.

Broadway Ave / Madison Ave is a densely urban neighborhood (based on population density) located in Paterson, New Jersey.

Broadway Ave / Madison Ave 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 Broadway Ave / Madison Ave neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

Home and apartment vacancy rates are 8.7% in Broadway Ave / Madison Ave. NeighborhoodScout analysis shows that this rate is lower than 42.1% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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 Paterson, the Broadway Ave / Madison Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

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 Broadway Ave / Madison Ave 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, 44.1% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 97.8% of America's neighborhoods.

In addition, the Broadway Ave / Madison Ave neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 32,623 persons per square mile in the neighborhood, it is more packed with people than 97.3% of the nation's neighborhoods. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The Broadway Ave / Madison Ave neighborhood is among the top 5% of American neighborhoods in terms of walkability.

Modes of Transportation

Our research shows that more people carpool to work here in the Broadway Ave / Madison Ave (25.3%) than in 96.9% of the neighborhoods in America.

Diversity

Did you know that the Broadway Ave / Madison Ave neighborhood has more Dominican and Jamaican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 52.5% of this neighborhood's residents have Dominican ancestry and 5.1% have Jamaican ancestry.

Broadway Ave / Madison Ave is also pretty special linguistically. Significantly, 71.8% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 97.7% of all U.S. neighborhoods.

Migration / Stability

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 Broadway Ave / Madison Ave neighborhood. What is interesting to note, is that the Broadway Ave / Madison Ave neighborhood has a greater percentage of residents born in another country (55.8%) than are found in 98.6% of all U.S. neighborhoods.

The Neighbors

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 Broadway Ave / Madison Ave neighborhood in Paterson are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 75.4% of U.S. neighborhoods. With 23.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 75.0% 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 Broadway Ave / Madison Ave neighborhood, 33.1% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 32.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (21.0%), and 10.8% in executive, management, and professional occupations.

Languages

The most common language spoken in the Broadway Ave / Madison Ave neighborhood is Spanish, spoken by 71.8% of households. Some people also speak English (24.4%).

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 Broadway Ave / Madison Ave neighborhood in Paterson, NJ, residents most commonly identify their ethnicity or ancestry as Dominican (52.5%). There are also a number of people of South American ancestry (8.0%), and residents who report Sub-Saharan African roots (7.1%), and some of the residents are also of African ancestry (5.3%), along with some Jamaican ancestry residents (5.1%), among others. In addition, 55.8% of the residents of this neighborhood were born in another country.

Getting to Work

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 Broadway Ave / Madison Ave neighborhood spend between 15 and 30 minutes commuting one-way to work (44.5% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (53.3%) 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 (25.3%) and 9.3% 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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