River Bank Park median real estate price is $797,695, which is more expensive than 75.7% of the neighborhoods in New Jersey and 84.1% of the neighborhoods in the U.S.
The average rental price in River Bank Park is currently $2,288, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 87.9% of New Jersey neighborhoods.
River Bank Park is an urban neighborhood (based on population density) located in Newark, New Jersey.
River Bank Park real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the River Bank Park neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
River Bank Park has a 12.3% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 70.5% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
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 River Bank Park neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Modes of Transportation
In the River Bank Park neighborhood, carpooling is still a popular way to get to and from work. NeighborhoodScout's analysis reveals that 32.1% of commuters carpool here, which is more than in 99.2% of all U.S. neighborhoods.
Also, more people ride the bus in this neighborhood each day to get to work than 96.9% of U.S. neighborhoods.
Finally, in the River Bank 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 11.0% of residents here. This is a higher proportion of walking commuters than we found in 95.4% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Occupations
NeighborhoodScout's exclusive research identifies the River Bank Park neighborhood as having one of the highest concentrations of people employed in manufacturing or as laborers of any neighborhood in America. In fact, despite the loss of manufacturing jobs nationally, this neighborhood has 51.2% of its working residents employed in such fields, which is a higher proportion than 99.1% of American neighborhoods.
People
Single parenting is hard. But you don't have to tell the River Bank Park neighborhood about it; they already know. 23.2% of this neighborhood's households are run by single mothers, which is a higher concentration than NeighborhoodScout found in 98.4% of American neighborhoods. Further NeighborhoodScout research showed strong statistical correlations among high rates of children living in single parent households, and neighborhood crime, particularly violent crime, neighborhood poverty, and, importantly, the percentage of low weight births and rates of infant mortality.
In addition, one of the unique characteristics of the River Bank Park neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 95.3% of the neighborhoods in America.
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 River Bank Park neighborhood have a highly unusual car ownership. 37.9% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.9% of U.S. neighborhoods.
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 River Bank Park 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 45.0% of the real estate here is made up of such dwellings, which is higher than 97.8% of all U.S. neighborhoods.
In addition, 83.9% of the real estate in the River Bank Park neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Diversity
Did you know that the River Bank Park neighborhood has more Brazilian and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 12.9% of this neighborhood's residents have Brazilian ancestry and 23.4% have South American ancestry.
River Bank Park is also pretty special linguistically. Significantly, 24.8% of its residents five years old and above primarily speak Portuguese at home. While this may seem like a small percentage, it is higher than 100.0% of the neighborhoods in America.
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 River Bank Park neighborhood has a greater percentage of residents born in another country (50.7%) than are found in 97.8% 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 River Bank 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 95.3% of U.S. neighborhoods. With 42.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 90.7% 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 River Bank Park neighborhood, 51.2% 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 clerical, assistant, and tech support occupations (14.0%), and 6.3% in executive, management, and professional 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 River Bank Park neighborhood is Spanish, spoken by 66.8% of households. Other important languages spoken here include Portuguese and English.
Ethnicity / Ancestry
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the River Bank Park neighborhood in Newark, NJ, residents most commonly identify their ethnicity or ancestry as South American (23.4%). There are also a number of people of Brazilian ancestry (12.9%), and residents who report Dominican roots (12.3%), and some of the residents are also of Puerto Rican ancestry (8.6%), along with some Portuguese ancestry residents (4.7%), among others. In addition, 50.7% 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 River Bank Park neighborhood spend between 15 and 30 minutes commuting one-way to work (35.5% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (33.8%) 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 (32.1%) and 14.0% 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.
