Broadway Ave / Madison Ave median real estate price is $442,593, which is less expensive than 63.1% of New Jersey neighborhoods and 38.4% of all U.S. neighborhoods.
The average rental price in Broadway Ave / Madison Ave is currently $2,536, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 76.2% of New Jersey neighborhoods.
Broadway Ave / Madison Ave is a densely urban neighborhood (based on population density) located in Paterson, New Jersey.
Broadway Ave / Madison Ave 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 Broadway Ave / Madison Ave neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
Home and apartment vacancy rates are 8.5% in Broadway Ave / Madison Ave. NeighborhoodScout analysis shows that this rate is lower than 45.6% of the neighborhoods in the nation, approximately near the middle range for vacancies.
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 Paterson, the Broadway Ave / Madison Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
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 Broadway Ave / Madison Ave 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 50.5% of the real estate here is made up of such dwellings, which is higher than 98.4% of all U.S. neighborhoods.
In addition, the Broadway Ave / Madison Ave neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 32,623 persons per square mile in the neighborhood, it is more packed with people than 97.3% of the nation's neighborhoods.
Furthermore, renter-occupied real estate is dominant in the Broadway Ave / Madison Ave neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 90.0%, which is higher than 96.8% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.
People
Single parenting is hard. But you don't have to tell the Broadway Ave / Madison Ave neighborhood about it; they already know. 21.4% of this neighborhood's households are run by single mothers, which is a higher concentration than NeighborhoodScout found in 97.7% 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.
Modes of Transportation
Our research revealed that more commuters here take the bus to work (14.6% ride the bus) than 97.2% 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.
Also, in the Broadway Ave / Madison Ave neighborhood, carpooling is still a popular way to get to and from work. NeighborhoodScout's analysis reveals that 22.7% of commuters carpool here, which is more than in 95.5% of all U.S. neighborhoods.
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 Broadway Ave / Madison Ave neighborhood have a highly unusual car ownership. 21.2% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 95.6% of U.S. neighborhoods.
Diversity
Did you know that the Broadway Ave / Madison Ave neighborhood has more Dominican and African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 48.1% of this neighborhood's residents have Dominican ancestry and 14.7% have African ancestry.
Migration / Stability
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 Broadway Ave / Madison Ave neighborhood. More residents of the Broadway Ave / Madison Ave neighborhood live here today that also were living in this same neighborhood five years ago than is found in 96.3% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while. What is interesting to note, is that the Broadway Ave / Madison Ave neighborhood has a greater percentage of residents born in another country (49.1%) than are found in 97.4% 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 Broadway Ave / Madison Ave neighborhood in Paterson are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 85.9% of U.S. neighborhoods. With 43.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 91.1% 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 Broadway Ave / Madison Ave neighborhood, 34.4% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 25.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (21.5%), and 16.3% in executive, management, and professional occupations.
Languages
The most common language spoken in the Broadway Ave / Madison Ave neighborhood is Spanish, spoken by 55.4% of households. Some people also speak English (39.7%).
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 Broadway Ave / Madison Ave neighborhood in Paterson, NJ, residents most commonly identify their ethnicity or ancestry as Dominican (48.1%). There are also a number of people of Sub-Saharan African ancestry (17.9%), and residents who report African roots (14.7%), and some of the residents are also of Jamaican ancestry (9.3%), along with some Mexican ancestry residents (4.9%), among others. In addition, 49.1% 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 Broadway Ave / Madison Ave neighborhood spend between 15 and 30 minutes commuting one-way to work (47.5% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (47.6%) 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 (22.7%) and 14.6% 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.
