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Real Estate Prices & Overview

Wayne Ave / Union Ave median real estate price is $429,762, which is less expensive than 76.8% of New Jersey neighborhoods and 43.1% of all U.S. neighborhoods.

The average rental price in Wayne Ave / Union Ave is currently $3,339, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 51.2% of New Jersey neighborhoods.

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

Wayne Ave / Union Ave real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) small apartment buildings and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Wayne Ave / Union Ave neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

In Wayne Ave / Union Ave, the current vacancy rate is 2.0%, which is a lower rate of vacancies than 84.9% of all neighborhoods in the U.S. This means that the housing supply in Wayne Ave / Union Ave is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

Real Estate

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 Wayne Ave / Union Ave 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 65.5% of the real estate here is made up of such dwellings, which is higher than 99.5% of all U.S. neighborhoods.

In addition, the Wayne Ave / Union Ave neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 39,295 persons per square mile in the neighborhood, it is more packed with people than 97.9% of the nation's neighborhoods. 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 Wayne Ave / Union Ave neighborhood is one of the most walkable neighborhoods in America.

People

NeighborhoodScout's exclusive research revealed that 94.8% of the adult residents in the Wayne Ave / Union Ave neighborhood do not have a 4-year college degree, which is a lower rate of college graduated adults than found in 97.4% of the neighborhoods in America.

Car Ownership

American households most often have a car, and regularly they have two or three. But households in the Wayne Ave / Union Ave neighborhood buck this trend. 26.4% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 96.5% of U.S. neighborhoods.

Modes of Transportation

In the Wayne Ave / Union Ave neighborhood, carpooling is still a popular way to get to and from work. NeighborhoodScout's analysis reveals that 23.7% of commuters carpool here, which is more than in 95.9% of all U.S. neighborhoods.

Diversity

Did you know that the Wayne Ave / Union Ave neighborhood has more Dominican and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 21.3% of this neighborhood's residents have Dominican ancestry and 15.3% have Puerto Rican ancestry.

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 Wayne Ave / Union Ave neighborhood has a greater percentage of residents born in another country (49.7%) than are found in 97.4% 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 Wayne Ave / Union 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 65.6% of U.S. neighborhoods. With 15.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 63.3% of U.S. neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Wayne Ave / Union Ave neighborhood, 34.3% 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 25.6% of the residents employed. Other residents here are employed in executive, management, and professional occupations (20.5%), and 18.1% 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 Wayne Ave / Union Ave neighborhood is Spanish, spoken by 41.8% of households. Other important languages spoken here include English and Langs. of India.

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 Wayne Ave / Union Ave neighborhood in Paterson, NJ, residents most commonly identify their ethnicity or ancestry as Asian (32.2%). There are also a number of people of Dominican ancestry (21.3%), and residents who report Puerto Rican roots (15.3%), and some of the residents are also of South American ancestry (8.7%), along with some Italian ancestry residents (3.2%), among others. In addition, 49.7% 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 Wayne Ave / Union Ave neighborhood spend between 15 and 30 minutes commuting one-way to work (46.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (62.1%) 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 (23.7%) and 6.5% 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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