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Real Estate Prices & Overview

Kensington Wood / Erskine median real estate price is $683,179, which is more expensive than 63.7% of the neighborhoods in New Jersey and 78.4% of the neighborhoods in the U.S.

The average rental price in Kensington Wood / Erskine is currently $4,325, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 85.2% of the neighborhoods in New Jersey.

Kensington Wood / Erskine is a rural neighborhood (based on population density) located in Ringwood, New Jersey.

Kensington Wood / Erskine real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the Kensington Wood / Erskine neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

In Kensington Wood / Erskine, 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 Kensington Wood / Erskine 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

Real estate in the Kensington Wood / Erskine neighborhood is almost exclusively owner-occupied. NeighborhoodScout's analysis reveals that this neighborhood has a higher rate of owner-occupied housing than is found in 98.5% of U.S. neighborhoods. If you are seeking to rent, this neighborhood may not have many options, but high rates of ownership often indicate stability in a neighborhood. This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Kensington Wood / Erskine neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.

In addition, the Kensington Wood / Erskine neighborhood has earned the amazing distinction of having one of the highest rates of detached, single-family homes of any neighborhood in the U.S. With 97.5% of the residential real estate here made up of free-standing single-family homes, there is a greater proportion of single-family homes here than in 95.4% of all neighborhoods in America.

People

In a nation where 1 out of every 4 children lives in poverty, the Kensington Wood / Erskine neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, according to NeighborhoodScout's exclusive analysis, Kensington Wood / Erskine is among the best neighborhoods for families in New Jersey. In fact, this neighborhood is more family-friendly than 97.1% of neighborhoods in the entire state of New Jersey. Its combination of top public schools, low crime rates, and owner-occupied single family homes gives this area the look and feel of a "Leave It to Beaver" episode. Many other families also live here, making it easy to socialize and develop a strong sense of community. In addition, the high number of college-educated parents influences the academic success of the local schools. Overall, you will find all of the amenities a family needs to thrive in the Kensington Wood / Erskine neighborhood. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for urban sophisticates and active retirees.

Diversity

Did you know that the Kensington Wood / Erskine neighborhood has more Dutch and Brazilian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 8.7% of this neighborhood's residents have Dutch ancestry and 1.7% have Brazilian ancestry.

Kensington Wood / Erskine is also pretty special linguistically. Significantly, 0.7% of its residents five years old and above primarily speak Native American languages at home. While this may seem like a small percentage, it is higher than 96.0% of the neighborhoods in America.

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 Kensington Wood / Erskine neighborhood in Ringwood 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 91.7% of the neighborhoods in America. In addition, 0.0% 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 100.0% of America'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 Kensington Wood / Erskine neighborhood, 51.9% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 20.0% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (17.5%), and 10.6% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Kensington Wood / Erskine neighborhood is English, spoken by 90.2% of households. Some people also speak Spanish (3.3%).

Ethnicity / Ancestry

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 Kensington Wood / Erskine neighborhood in Ringwood, NJ, residents most commonly identify their ethnicity or ancestry as German (21.8%). There are also a number of people of Irish ancestry (21.7%), and residents who report Italian roots (17.3%), and some of the residents are also of English ancestry (14.4%), along with some Dutch ancestry residents (8.7%), among others.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Kensington Wood / Erskine neighborhood spend between 30 and 45 minutes commuting one-way to work (28.8% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (82.1%) drive alone in a private automobile to get to work. 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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