Downtown Passaic median real estate price is $598,204, which is more expensive than 51.3% of the neighborhoods in New Jersey and 73.6% of the neighborhoods in the U.S.
The average rental price in Downtown Passaic is currently $2,405, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 82.6% of New Jersey neighborhoods.
Downtown Passaic is a densely urban neighborhood (based on population density) located in Passaic, New Jersey.
Downtown Passaic 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 Downtown Passaic 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 1970 and 1999.
In Downtown Passaic, the current vacancy rate is 2.7%, which is a lower rate of vacancies than 80.8% of all neighborhoods in the U.S. This means that the housing supply in Downtown Passaic is very tight compared to the demand for property here.
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.
The Downtown Passaic neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 48,577 persons per square mile in the neighborhood, it is more packed with people than 98.4% of the nation's neighborhoods. 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 Downtown Passaic neighborhood is one of the most walkable neighborhoods in America.
In addition, 93.0% of the real estate in the Downtown Passaic neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Furthermore, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 72.8% of the residential real estate in the Downtown Passaic neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 99.0% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
Whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the Downtown Passaic neighborhood has more single mother households than 99.6% of the neighborhoods in the U.S. Often high concentrations of single mother homes can be a strong indicator of family and social issues such as poverty, high rates of school dropouts, crime, and other societal problems.
In addition, the Downtown Passaic neighborhood is unique for having just 4.6% of adults here having earned a bachelor's degree. This is a lower rate of college graduates than NeighborhoodScout found in 97.6% of America's neighborhoods.
Our research revealed that more commuters here take the bus to work (17.1% ride the bus) than 98.2% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.
More people work in manufacturing and as laborers here in the Downtown Passaic neighborhood than in 97.4% 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.
American households most often have a car, and regularly they have two or three. But households in the Downtown Passaic neighborhood buck this trend. 19.9% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 95.1% of U.S. neighborhoods.
Did you know that the Downtown Passaic neighborhood has more Dominican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 36.8% of this neighborhood's residents have Dominican ancestry.
Downtown Passaic is also pretty special linguistically. Significantly, 89.7% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 99.6% of all U.S. neighborhoods.
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 Downtown Passaic neighborhood has a greater percentage of residents born in another country (50.3%) than are found in 97.6% 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 Downtown Passaic neighborhood in Passaic are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 70.0% of U.S. neighborhoods. With 40.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 89.7% 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 Downtown Passaic neighborhood, 45.1% 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 18.4% of the residents employed. Other residents here are employed in executive, management, and professional occupations (18.4%), and 18.2% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Downtown Passaic neighborhood is Spanish, spoken by 89.7% of households. Some people also speak English (10.3%).
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 Downtown Passaic neighborhood in Passaic, NJ, residents most commonly identify their ethnicity or ancestry as Mexican (44.6%). There are also a number of people of Dominican ancestry (36.8%), and residents who report Puerto Rican roots (6.2%), and some of the residents are also of South American ancestry (3.5%). In addition, 50.3% 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 Downtown Passaic neighborhood spend under 15 minutes commuting one-way to work (38.9% of working residents), one of the shortest commutes across America.
Here most residents (51.1%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (17.1%) and 12.9% 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.
