Riverside West median real estate price is $482,412, which is more expensive than 30.9% of the neighborhoods in New Jersey and 53.5% of the neighborhoods in the U.S.
The average rental price in Riverside West is currently $2,391, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 85.0% 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.
Real estate vacancies in Riverside West are 3.7%, which is lower than one will find in 73.4% of American neighborhoods. Demand for real estate in Riverside West 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.
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.
More people work in manufacturing and as laborers here in the Riverside West neighborhood than in 99.8% 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.
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 Riverside West 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 66.6% of the real estate here is made up of such dwellings, which is higher than 99.6% of all U.S. neighborhoods.
In addition, 91.7% of the real estate in the Riverside West neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Furthermore, 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 Riverside West neighborhood is among the top 5% of American neighborhoods in terms of walkability.
Also of note, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 60.2% of the residential real estate in the Riverside West neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 96.7% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
Our research shows that more people carpool to work here in the Riverside West (30.7%) than in 98.9% of the neighborhoods in America.
NeighborhoodScout's exclusive research revealed that 95.1% of the adult residents in the Riverside West neighborhood do not have a 4-year college degree, which is a lower rate of college graduated adults than found in 97.6% of the neighborhoods in America.
In addition, one of the unique characteristics of the Riverside West neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 96.6% of the neighborhoods in America. The Riverside West neighborhood also has a greater percentage of children living in poverty (56.0%) than found in 96.0% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.
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 Riverside West neighborhood has a highly unusual pattern of car ownership. 23.2% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 96.0% of U.S. neighborhoods.
Did you know that the Riverside West neighborhood has more Dominican and Jamaican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 33.4% of this neighborhood's residents have Dominican ancestry and 13.0% have Jamaican ancestry.
Riverside West is also pretty special linguistically. Significantly, 60.6% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 95.9% 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 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 96.6% of U.S. neighborhoods. With 56.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 96.0% 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 Riverside West neighborhood, 58.3% 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 24.5% of the residents employed. Other residents here are employed in executive, management, and professional occupations (9.8%), and 7.1% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Riverside West neighborhood is Spanish, spoken by 60.6% of households. Some people also speak English (39.4%).
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 (33.4%). There are also a number of people of Puerto Rican ancestry (14.5%), and residents who report Jamaican roots (13.0%), and some of the residents are also of South American ancestry (6.3%), along with some Mexican ancestry residents (1.9%), among others. In addition, 42.1% 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 (43.7% of working residents), one of the shortest commutes across America.
Here most residents (54.3%) 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 (30.7%) and 6.1% of residents also hop out the door and walk to work 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.
