Morsemere median real estate price is $890,973, which is more expensive than 82.5% of the neighborhoods in New Jersey and 87.2% of the neighborhoods in the U.S.
The average rental price in Morsemere is currently $3,950, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 77.4% of the neighborhoods in New Jersey.
Morsemere is a densely urban neighborhood (based on population density) located in Palisades Park, New Jersey.
Morsemere 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 occupied by a mixture of owners and renters. Many of the residences in the Morsemere neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1940 and 1969.
Real estate vacancies in Morsemere are 3.3%, which is lower than one will find in 78.5% of American neighborhoods. Demand for real estate in Morsemere is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.
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.
More people ride the bus in this neighborhood each day to get to work than 99.0% of U.S. neighborhoods.
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 Morsemere neighborhood has a highly unusual pattern of car ownership. 26.1% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 96.6% of U.S. neighborhoods.
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 Morsemere 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 32.5% of the real estate here is made up of such dwellings, which is higher than 95.4% of all U.S. neighborhoods.
Did you know that the Morsemere neighborhood has more Asian and Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 60.5% of this neighborhood's residents have Asian ancestry and 2.8% have Greek ancestry.
Morsemere is also pretty special linguistically. Significantly, 52.2% of its residents five years old and above primarily speak Korean at home. This is a higher percentage than 100.0% of all U.S. neighborhoods.
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 Morsemere neighborhood. What is interesting to note, is that the Morsemere neighborhood has a greater percentage of residents born in another country (58.4%) than are found in 99.0% of all U.S. neighborhoods.
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 Morsemere neighborhood in Palisades Park are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 67.3% of the neighborhoods in America. In addition, 9.7% 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 51.3% of America'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 Morsemere neighborhood, 37.0% 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 29.1% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (17.4%), and 16.5% 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 Morsemere neighborhood is Korean, spoken by 52.2% of households. Other important languages spoken here include English and Spanish.
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 Morsemere neighborhood in Palisades Park, NJ, residents most commonly identify their ethnicity or ancestry as Asian (60.5%). There are also a number of people of French ancestry (4.0%), and residents who report Dutch roots (4.0%), and some of the residents are also of Italian ancestry (3.9%), along with some Greek ancestry residents (2.8%), among others. In addition, 58.4% 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 Morsemere neighborhood spend between 15 and 30 minutes commuting one-way to work (28.4% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (47.4%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (22.3%) and 16.4% of residents also carpool with coworkers, friends, or neighbors 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.