Riverside West median real estate price is $548,789, which is more expensive than 36.7% of the neighborhoods in New Jersey and 61.6% of the neighborhoods in the U.S.
The average rental price in Riverside West is currently $2,331, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 88.5% of New Jersey neighborhoods.
Riverside West is a densely urban neighborhood (based on population density) located in Paterson, New Jersey.
Riverside West real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the Riverside West neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.
Home and apartment vacancy rates are 6.3% in Riverside West. NeighborhoodScout analysis shows that this rate is lower than 56.5% of the neighborhoods in the nation, approximately near the middle range for vacancies.
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 Riverside West neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
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 Riverside West 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, 65.5% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 99.5% of America's neighborhoods.
In addition, being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the Riverside West neighborhood is one of the most walkable neighborhoods in America.
Furthermore, renter-occupied real estate is dominant in the Riverside West neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 89.6%, which is higher than 96.7% 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.
Also of note, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Riverside West neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 66.3% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 98.0% of the neighborhoods in the United States.
More people work in manufacturing and as laborers here in the Riverside West neighborhood than in 98.5% 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.
In the Riverside West neighborhood, carpooling is still a popular way to get to and from work. NeighborhoodScout's analysis reveals that 27.4% of commuters carpool here, which is more than in 98.0% of all U.S. neighborhoods.
Whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the Riverside West neighborhood has more single mother households than 96.4% of the neighborhoods in the U.S. Often high concentrations of single mother homes can be a strong indicator of family and social issues such as poverty, high rates of school dropouts, crime, and other societal problems.
In addition, the Riverside West neighborhood is unique for having just 6.7% of adults here having earned a bachelor's degree. This is a lower rate of college graduates than NeighborhoodScout found in 95.9% of America's neighborhoods.
Did you know that the Riverside West neighborhood has more Dominican and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 27.5% of this neighborhood's residents have Dominican ancestry and 15.0% have Puerto Rican ancestry.
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 Riverside West neighborhood in Paterson are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 93.3% of U.S. neighborhoods. With 52.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 94.9% 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 Riverside West neighborhood, 48.4% 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 29.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (12.2%), and 9.9% in executive, management, and professional occupations.
Languages
The most common language spoken in the Riverside West neighborhood is Spanish, spoken by 53.8% of households. Some people also speak English (46.2%).
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 Riverside West neighborhood in Paterson, NJ, residents most commonly identify their ethnicity or ancestry as Dominican (27.5%). There are also a number of people of Puerto Rican ancestry (15.0%), and residents who report Jamaican roots (7.1%), and some of the residents are also of Sub-Saharan African ancestry (6.3%), along with some African ancestry residents (6.3%), among others. In addition, 32.7% 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 Riverside West neighborhood spend under 15 minutes commuting one-way to work (38.8% of working residents), one of the shortest commutes across America.
Here most residents (60.3%) 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 (27.4%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
