Independence Park median real estate price is $512,150, which is more expensive than 40.2% of the neighborhoods in New Jersey and 67.2% of the neighborhoods in the U.S.
The average rental price in Independence Park is currently $3,197, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 51.2% of New Jersey neighborhoods.
Independence Park is a densely urban neighborhood (based on population density) located in Newark, New Jersey.
Independence Park 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 Independence Park neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
In Independence Park, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Independence Park is very tight compared to the demand for property here.
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
Renter-occupied real estate is dominant in the Independence Park neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 88.6%, which is higher than 96.4% 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. This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Independence Park neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.
In addition, 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 Independence Park 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, 65.3% 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.
Furthermore, if you like crowded places, then you will probably enjoy the the Independence Park neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.1% of neighborhoods in the U.S., with 25,292 people per square mile living here.
Modes of Transportation
Our research shows that more people carpool to work here in the Independence Park (40.8%) than in 99.8% of the neighborhoods in America.
Also, in the Independence Park neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 11.2% of residents here. This is a higher proportion of walking commuters than we found in 95.6% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Occupations
More people work in manufacturing and as laborers here in the Independence Park neighborhood than in 99.5% 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.
Car Ownership
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Independence Park neighborhood have a highly unusual car ownership. 29.2% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.0% of U.S. neighborhoods.
Diversity
Did you know that the Independence Park neighborhood has more Brazilian and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 21.8% of this neighborhood's residents have Brazilian ancestry and 44.3% have South American ancestry.
Independence Park is also pretty special linguistically. Significantly, 43.2% of its residents five years old and above primarily speak Portuguese at home. This is a higher percentage than 100.0% 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 Independence Park neighborhood. What is interesting to note, is that the Independence Park neighborhood has a greater percentage of residents born in another country (72.3%) than are found in 99.8% 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 Independence Park neighborhood in Newark are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 88.7% of U.S. neighborhoods. With 19.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 68.4% 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 Independence Park neighborhood, 54.5% 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 28.5% of the residents employed. Other residents here are employed in executive, management, and professional occupations (14.5%), and 2.4% 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 Independence Park neighborhood is Spanish, spoken by 58.0% of households. Other important languages spoken here include Portuguese and English.
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 Independence Park neighborhood in Newark, NJ, residents most commonly identify their ethnicity or ancestry as South American (44.3%). There are also a number of people of Brazilian ancestry (21.8%), and residents who report Spanish roots (6.6%), and some of the residents are also of Portuguese ancestry (6.4%), along with some Italian ancestry residents (3.7%), among others. In addition, 72.3% of the residents of this neighborhood were born in another country.
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Independence Park neighborhood spend between 15 and 30 minutes commuting one-way to work (42.3% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (40.8%) carpool with coworkers, friends, or neighbors to get to work. In addition, quite a number also drive alone in a private automobile to get to work (36.0%) and 11.2% of residents also hop out the door and walk to work for their daily commute. Despite relying on the automobile to get to work, residents of this neighborhood share the ride more than most neighborhoods, reducing traffic, pollution, and saving money.
