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Real Estate Prices & Overview

Peoples Park median real estate price is $353,720, which is less expensive than 75.0% of New Jersey neighborhoods and 46.1% of all U.S. neighborhoods.

The average rental price in Peoples Park is currently $2,968, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 50.4% of New Jersey neighborhoods.

Peoples Park is a densely urban neighborhood (based on population density) located in Paterson, New Jersey.

Peoples Park real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Peoples Park neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

In Peoples Park, the current vacancy rate is 1.7%, which is a lower rate of vacancies than 89.1% of all neighborhoods in the U.S. This means that the housing supply in Peoples Park is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

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 Peoples Park neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The Peoples Park neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 60.9% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 99.2% of America's neighborhoods.

In addition, if you like crowded places, then you will probably enjoy the the Peoples Park neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.7% of neighborhoods in the U.S., with 28,679 people per square mile living here.

Modes of Transportation

In the Peoples Park neighborhood, carpooling is still a popular way to get to and from work. NeighborhoodScout's analysis reveals that 26.8% of commuters carpool here, which is more than in 98.0% of all U.S. neighborhoods.

People

Single parenting is hard. But you don't have to tell the Peoples Park neighborhood about it; they already know. 17.3% of this neighborhood's households are run by single mothers, which is a higher concentration than NeighborhoodScout found in 95.0% 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.

Diversity

Did you know that the Peoples Park neighborhood has more South American and Dominican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 32.3% of this neighborhood's residents have South American ancestry and 20.6% have Dominican ancestry.

Peoples Park is also pretty special linguistically. Significantly, 73.8% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 97.9% of all U.S. neighborhoods.

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 Peoples Park neighborhood. What is interesting to note, is that the Peoples Park neighborhood has a greater percentage of residents born in another country (51.2%) than are found in 97.9% of all U.S. neighborhoods.

The Neighbors

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 Peoples Park neighborhood in Paterson are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 67.9% of U.S. neighborhoods. With 42.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 90.1% of U.S. neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Peoples Park neighborhood, 40.7% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 20.5% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (20.2%), and 18.6% in executive, management, and professional occupations.

Languages

The most common language spoken in the Peoples Park neighborhood is Spanish, spoken by 73.8% of households. Some people also speak English (25.2%).

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 Peoples Park neighborhood in Paterson, NJ, residents most commonly identify their ethnicity or ancestry as South American (32.3%). There are also a number of people of Dominican ancestry (20.6%), and residents who report Mexican roots (11.3%), and some of the residents are also of Sub-Saharan African ancestry (4.9%), along with some African ancestry residents (4.9%), among others. In addition, 51.2% of the residents of this neighborhood were born in another country.

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 Peoples Park neighborhood spend between 15 and 30 minutes commuting one-way to work (37.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (60.3%) 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 (26.8%) . 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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