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Real Estate Prices & Overview

Passaic Park West median real estate price is $893,180, which is more expensive than 87.0% of the neighborhoods in New Jersey and 89.0% of the neighborhoods in the U.S.

The average rental price in Passaic Park West is currently $3,918, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 81.0% of the neighborhoods in New Jersey.

Passaic Park West is an urban neighborhood (based on population density) located in Passaic, New Jersey.

Passaic Park West real estate is primarily made up of large (four, five or more bedroom) to medium sized (three or four bedroom) single-family homes and small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the Passaic Park West 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 1940 and 1969.

In Passaic Park West, 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 Passaic Park West is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

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.

Real Estate

With a real estate vacancy rate of only 0.0%, the Passaic Park West neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.

In addition, one way that the Passaic Park West neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 96.3% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.

People

One of the really interesting characteristics about the Passaic Park West neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 0.6% of college-friendly places to live in the state of New Jersey. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for urban sophisticates and highly educated executives.

Occupations

The Passaic Park West neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 95.8% of the neighborhoods in America. In fact, 70.6% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.

Diversity

Did you know that the Passaic Park West neighborhood has more Eastern European and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 9.1% of this neighborhood's residents have Eastern European ancestry and 10.4% have Russian ancestry.

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 Passaic Park West neighborhood in Passaic are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 94.6% of the neighborhoods in America. In addition, 7.0% 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 58.6% of America'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 Passaic Park West neighborhood, 70.6% 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 16.6% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (6.8%), and 6.0% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Passaic Park West neighborhood is English, spoken by 85.3% of households. Some people also speak Spanish (2.1%).

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 Passaic Park West neighborhood in Passaic, NJ, residents most commonly identify their ethnicity or ancestry as Polish (16.5%). There are also a number of people of Russian ancestry (10.4%), and residents who report Eastern European roots (9.1%), and some of the residents are also of German ancestry (6.9%), along with some Italian ancestry residents (4.4%), among others.

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 Passaic Park West neighborhood spend between 15 and 30 minutes commuting one-way to work (34.5% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (59.0%) 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 (13.6%) and 9.0% 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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