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Real Estate Prices & Overview

Passaic Park West median real estate price is $995,432, which is more expensive than 87.1% of the neighborhoods in New Jersey and 89.9% of the neighborhoods in the U.S.

The average rental price in Passaic Park West is currently $4,119, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 81.2% of the neighborhoods in New Jersey.

Passaic Park West is an urban neighborhood (based on population density) located in Passaic, New Jersey.

Passaic Park West real estate is primarily made up of large (four, five or more bedroom) to medium sized (three or four bedroom) single-family homes and small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the Passaic Park West neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.

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

Real Estate

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 Passaic Park West 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, one way that the Passaic Park West neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 96.3% 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.

People

One of the really interesting characteristics about the Passaic Park West neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 0.6% of college-friendly places to live in the state of New Jersey. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for urban sophisticates and highly educated executives.

Occupations

The Passaic Park West neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 95.8% of the neighborhoods in America. In fact, 70.6% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.

Diversity

Did you know that the Passaic Park West neighborhood has more Eastern European and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 9.1% of this neighborhood's residents have Eastern European ancestry and 10.4% have Russian ancestry.

The Neighbors

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 Passaic Park West neighborhood in Passaic 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 94.6% of the neighborhoods in America. In addition, 7.0% 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 58.6% of America's neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Passaic Park West neighborhood, 70.6% 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 16.6% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (6.8%), and 6.0% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Passaic Park West neighborhood is English, spoken by 85.3% of households. Some people also speak Spanish (2.1%).

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Passaic Park West neighborhood in Passaic, NJ, residents most commonly identify their ethnicity or ancestry as Polish (16.5%). There are also a number of people of Russian ancestry (10.4%), and residents who report Eastern European roots (9.1%), and some of the residents are also of German ancestry (6.9%), along with some Italian ancestry residents (4.4%), 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 Passaic Park West neighborhood spend between 15 and 30 minutes commuting one-way to work (34.5% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (59.0%) 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 (13.6%) and 9.0% of residents also take the train 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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