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Real Estate Prices & Overview

Mt Pleasant - Lower Broadway median real estate price is $498,447, which is more expensive than 47.6% of the neighborhoods in New Jersey and 68.7% of the neighborhoods in the U.S.

The average rental price in Mt Pleasant - Lower Broadway is currently $2,225, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 86.8% of New Jersey neighborhoods.

Mt Pleasant - Lower Broadway is a densely urban neighborhood (based on population density) located in Newark, New Jersey.

Mt Pleasant - Lower Broadway 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 Mt Pleasant - Lower Broadway neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built before 1940.

Home and apartment vacancy rates are 8.2% in Mt Pleasant - Lower Broadway. NeighborhoodScout analysis shows that this rate is lower than 47.2% of the neighborhoods in the nation, approximately near the middle range for vacancies.

Notable & Unique Neighborhood Characteristics

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 Newark, the Mt Pleasant - Lower Broadway neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

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 Mt Pleasant - Lower Broadway 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, 65.2% 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, if you like crowded places, then you will probably enjoy the the Mt Pleasant - Lower Broadway neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 95.4% of neighborhoods in the U.S., with 21,870 people per square mile living here. 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 Mt Pleasant - Lower Broadway neighborhood is one of the most walkable neighborhoods in America.

People

Mt Pleasant - Lower Broadway has the amazing distinction of housing more same sex couples living together than 97.7% of neighborhoods in the U.S. If you are seeking such a neighborhood, NeighborhoodScout's analysis shows that this is one place that you should consider.

In addition, the Mt Pleasant - Lower Broadway neighborhood stands out within New Jersey for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 9.6% of college-friendly places to live in NJ.

Car Ownership

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 Mt Pleasant - Lower Broadway neighborhood has a highly unusual pattern of car ownership. 23.0% 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.

Diversity

Did you know that the Mt Pleasant - Lower Broadway neighborhood has more Dominican and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 20.4% of this neighborhood's residents have Dominican ancestry and 22.7% have Puerto Rican ancestry.

Mt Pleasant - Lower Broadway is also pretty special linguistically. Significantly, 3.1% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 97.1% of the neighborhoods in America.

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 Mt Pleasant - Lower Broadway neighborhood in Newark are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 41.5% of the neighborhoods in America. With 26.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 77.0% 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 Mt Pleasant - Lower Broadway neighborhood, 38.5% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 27.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (18.7%), and 15.0% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

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 Mt Pleasant - Lower Broadway neighborhood is Spanish, spoken by 63.4% of households. Other important languages spoken here include English and African languages.

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 Mt Pleasant - Lower Broadway neighborhood in Newark, NJ, residents most commonly identify their ethnicity or ancestry as Puerto Rican (22.7%). There are also a number of people of Dominican ancestry (20.4%), and residents who report South American roots (10.8%), and some of the residents are also of Sub-Saharan African ancestry (4.0%), along with some Brazilian ancestry residents (1.7%), among others. In addition, 35.3% of the residents of this neighborhood were born in another country.

Getting to Work

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 Mt Pleasant - Lower Broadway neighborhood spend between 15 and 30 minutes commuting one-way to work (46.0% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (64.3%) 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 (18.0%) and 8.9% of residents also take the train 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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