Park Avenue median real estate price is $816,133, which is more expensive than 75.0% of the neighborhoods in New Jersey and 85.2% of the neighborhoods in the U.S.
The average rental price in Park Avenue is currently $4,548, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 83.8% of the neighborhoods in New Jersey.
Park Avenue is a suburban neighborhood (based on population density) located in Rutherford, New Jersey.
Park Avenue real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the Park Avenue 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 8.3% in Park Avenue. NeighborhoodScout analysis shows that this rate is lower than 43.9% of the neighborhoods in the nation, approximately near the middle range for vacancies.
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.
If you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Park Avenue neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 98.4% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Park Avenue neighborhood.
In addition, if you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 4.2% of America's neighborhoods are wealthier than the Park Avenue neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe.
Would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the Park Avenue neighborhood is a fantastic option for bicycle commuters, as 4.1% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 97.4% of the neighborhoods in America.
Also, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 13.7% of the Park Avenue neighborhood's commuters ride the train to and from work each day, which is more than we found in 96.6% of America's neighborhoods.
Executives, managers and professionals make up 74.9% of the workforce in the Park Avenue neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 97.3% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
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 Park Avenue neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 55.0% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 95.3% of the neighborhoods in the United States.
Did you know that the Park Avenue neighborhood has more South American and Dominican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 13.2% of this neighborhood's residents have South American ancestry and 5.4% have Dominican ancestry.
Park Avenue is also pretty special linguistically. Significantly, 0.7% of its residents five years old and above primarily speak Japanese at home. While this may seem like a small percentage, it is higher than 96.1% of the neighborhoods in America.
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 Park Avenue neighborhood in Rutherford are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 95.8% of the neighborhoods in America. In addition, 5.9% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 60.8% of America'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 Park Avenue neighborhood, 74.9% of the working population is employed in executive, management, and professional 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 10.6% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (8.4%), and 6.2% in clerical, assistant, and tech support occupations.
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 Park Avenue neighborhood is English, spoken by 61.1% of households. Other important languages spoken here include Spanish and Langs. of India.
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 Park Avenue neighborhood in Rutherford, NJ, residents most commonly identify their ethnicity or ancestry as Italian (18.1%). There are also a number of people of Irish ancestry (17.5%), and residents who report South American roots (13.2%), and some of the residents are also of Asian ancestry (11.7%), along with some German ancestry residents (9.3%), among others. In addition, 27.0% 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 Park Avenue neighborhood spend between 45 minutes and one hour commuting one-way to work (32.2% of working residents), longer and tougher than most commutes in America.
Here most residents (45.8%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (13.7%) and 8.5% 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.