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Real Estate Prices & Overview

Woodland Park median real estate price is $1,404,481, which is more expensive than 98.5% of the neighborhoods in New Jersey and 97.4% of the neighborhoods in the U.S.

The average rental price in Woodland Park is currently $3,575, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 73.7% of the neighborhoods in New Jersey.

Woodland Park is a suburban neighborhood (based on population density) located in Summit, New Jersey.

Woodland Park real estate is primarily made up of large (four, five or more bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Woodland Park neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

Real estate vacancies in Woodland Park are 4.7%, which is lower than one will find in 70.2% of American neighborhoods. Demand for real estate in Woodland Park is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

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

People

The rate of college educated adults in the Woodland Park neighborhood is a unique characteristic of the neighborhood. 90.4% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 33.7% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 99.7% of all U.S. neighborhoods.

In addition, if you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 0.3% of America's neighborhoods are wealthier than the Woodland Park neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe.

Also, think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the Woodland Park neighborhood: a neighborhood in which more "urban sophisticates" live than 99.7% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for families with school-aged children and highly educated executives.

Finally, priests and therapists would like to think they know the secrets to a truly successful marriage, but according to NeighborhoodScout's research, the folks of the Woodland Park neighborhood may actually hold the key. 67.8% of its residents are married, which is a higher percentage than is found in 96.2% of the neighborhoods in America.

Real Estate

One way that the Woodland Park neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 99.2% 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.

In addition, real estate in the Woodland Park 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 95.6% 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.

Length of Commute

Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The Woodland Park neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the Woodland Park neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 13.4% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 97.9% of all neighborhoods in America.

Occupations

Executives, managers and professionals make up 74.7% of the workforce in the Woodland Park neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 97.8% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

Modes of Transportation

If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 26.8% of the Woodland Park neighborhood's commuters ride the train to and from work each day, which is more than we found in 97.7% of America's neighborhoods.

Diversity

Did you know that the Woodland Park neighborhood has more Greek and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.6% of this neighborhood's residents have Greek ancestry and 4.8% have Russian ancestry.

Woodland Park is also pretty special linguistically. Significantly, 3.3% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 97.9% 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 Woodland Park neighborhood in Summit 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 99.7% of the neighborhoods in America. In addition, 0.8% 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 79.3% 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 Woodland Park neighborhood, 74.7% 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 16.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (6.9%).

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Woodland Park neighborhood is English, spoken by 84.1% of households. Other important languages spoken here include Korean, Spanish and Langs. of India.

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 Woodland Park neighborhood in Summit, NJ, residents most commonly identify their ethnicity or ancestry as Irish (19.9%). There are also a number of people of Italian ancestry (14.5%), and residents who report Asian roots (13.1%), and some of the residents are also of English ancestry (13.0%), along with some German ancestry residents (11.7%), among others. In addition, 14.9% of the residents of this neighborhood were born in another country.

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 Woodland Park neighborhood spend between 45 minutes and one hour commuting one-way to work (35.7% of working residents), longer and tougher than most commutes in America.

Here most residents (40.0%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (26.8%) and 6.6% 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.


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