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Real Estate Prices & Overview

Borough Center / Ridgedale Park median real estate price is $795,198, which is more expensive than 72.6% of the neighborhoods in New Jersey and 82.6% of the neighborhoods in the U.S.

The average rental price in Borough Center / Ridgedale Park is currently $3,932, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 77.0% of the neighborhoods in New Jersey.

Borough Center / Ridgedale Park is a suburban neighborhood (based on population density) located in Madison, New Jersey.

Borough Center / Ridgedale Park real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Borough Center / Ridgedale Park neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

Real estate vacancies in Borough Center / Ridgedale Park are 4.3%, which is lower than one will find in 71.5% of American neighborhoods. Demand for real estate in Borough Center / Ridgedale 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

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.

People

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

Diversity

Did you know that the Borough Center / Ridgedale Park neighborhood has more Lithuanian and Italian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.8% of this neighborhood's residents have Lithuanian ancestry and 24.3% have Italian ancestry.

Borough Center / Ridgedale Park is also pretty special linguistically. Significantly, 3.2% of its residents five years old and above primarily speak German/Yiddish at home. While this may seem like a small percentage, it is higher than 98.2% 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 Borough Center / Ridgedale Park neighborhood in Madison 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 86.7% 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.

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 Borough Center / Ridgedale Park neighborhood, 57.4% 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 24.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (10.8%), and 7.3% in manufacturing and laborer occupations.

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 Borough Center / Ridgedale Park neighborhood is English, spoken by 79.5% of households. Other important languages spoken here include Spanish, German/Yiddish and Chinese.

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 Borough Center / Ridgedale Park neighborhood in Madison, NJ, residents most commonly identify their ethnicity or ancestry as Italian (24.3%). There are also a number of people of Irish ancestry (24.1%), and residents who report German roots (12.9%), and some of the residents are also of Polish ancestry (12.5%), along with some Cuban ancestry residents (6.4%), among others. In addition, 13.8% 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 Borough Center / Ridgedale Park neighborhood spend between 15 and 30 minutes commuting one-way to work (40.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (60.7%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (7.1%) and 5.3% 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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