What do we mean by a neighborhood?
NeighborhoodScout® uses the official government designation for neighborhoods - the census tract.
Census tracts are small, relatively permanent subdivisions of a county that are defined by the U.S. Census Bureau in conjunction with local authorities all across the country to define real neighborhoods that are bounded to contain areas with homogeneous population characteristics (including economic status, lifestyle, and living conditions). Census tracts usually have 4,000 persons, but can range between 1,500 and 8,000 persons. This is the most fine-grained area for which detailed information is made available from the government, to protect the individual privacy of each of us. Because census tracts are based on population, they vary in size depending on the density of settlement. In urban areas, they are small, and in rural areas they can cover an entire small town or even a few small towns in very rural areas.
Since census tracts are subdivisions of a county, we did a spatial overlay of the census tracts onto city and town boundaries using a geographic information system to properly assign each census tract to its appropriate city or town. Then we named each census tract to the local colloquially recognized neighborhood name for that spot (e.g., Boston, MA (Dorchester). If there was not a name available, we named the census tract by the largest street intersection in the census tract (e.g., Worcester, MA (Lincoln St/Plantation St)
Why we don't use Zip Codes as neighborhoods
Zip codes were developed by the Postal Service for the purpose of delivering mail, but were never intended to define coherent neighborhoods. In addition, Zip Codes can have as many as 10 distinctly different census tracts contained within them. When distinct census tracts are blended together in a single Zip Code, the data reflects their average conditions and often gives a false sense of the area. The result is that potentially great matching neighborhoods can be missed, and erroneous matches can also be produced and delivered to you.
Using census tracts makes great matches possible, and helps people find the areas that are best for them and their families. Because we are committed to providing the highest possible quality and finding the neighborhoods that best meet your criteria, we use census tracts. And, as always, we show you the actual street map of the neighborhood so you know exactly where your best matching neighborhood is located.
What is a Condition Alert?
A condition alert is a condition in the neighborhood that triggers an alert. NeighborhoodScout contains condition alerts to highlight conditions that are extreme, whether good or bad. This helps answer crucial questions about the state of the neighborhood being evaluated, such as:
What are the risks of violent crime here?
Is the risk of home break-ins or other property crimes increasing?
Does real estate here hold its value?
Are the trends in local vacancies or unemployment concerning?
...and dozens more.
Information at a glance that you need to know to invest, appraise or finance a property.
Liberty St / Paterson Ave median real estate price is $348,822, which is less expensive than 83.1% of New Jersey neighborhoods and 53.8% of all U.S. neighborhoods.
The average rental price in Liberty St / Paterson Ave is currently $2,809, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 70.2% of New Jersey neighborhoods.
Liberty St / Paterson Ave is a densely urban neighborhood (based on population density) located in Paterson, New Jersey.
Liberty St / Paterson Ave real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) small apartment buildings and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Liberty St / Paterson Ave 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 Liberty St / Paterson Ave, the current vacancy rate is 1.9%, which is a lower rate of vacancies than 87.4% of all neighborhoods in the U.S. This means that the housing supply in Liberty St / Paterson Ave 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
Corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the Liberty St / Paterson Ave neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 66.1% of the real estate here is made up of such dwellings, which is higher than 99.6% of all U.S. neighborhoods.
In addition, the Liberty St / Paterson Ave neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 42,101 persons per square mile in the neighborhood, it is more packed with people than 98.0% of the nation's neighborhoods. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The Liberty St / Paterson Ave neighborhood is among the top 5% of American neighborhoods in terms of walkability.
Furthermore, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Liberty St / Paterson Ave neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 63.8% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 97.4% of the neighborhoods in the United States.
Modes of Transportation
Our research revealed that more commuters here take the bus to work (16.6% ride the bus) than 97.8% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.
People
One of the really interesting characteristics about the Liberty St / Paterson Ave 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 4.0% of college-friendly places to live in the state of New Jersey.
Diversity
Did you know that the Liberty St / Paterson Ave neighborhood has more South American and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 16.8% of this neighborhood's residents have South American ancestry and 13.7% have Puerto Rican ancestry.
Migration / Stability
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. What is interesting to note, is that the Liberty St / Paterson Ave neighborhood has a greater percentage of residents born in another country (42.8%) than are found in 95.3% 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 Liberty St / Paterson Ave 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 74.3% of U.S. neighborhoods. With 50.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 94.2% 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 Liberty St / Paterson Ave neighborhood, 32.4% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 27.3% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (23.7%), and 16.6% in clerical, assistant, and tech support 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 Liberty St / Paterson Ave neighborhood is Spanish, spoken by 36.9% of households. Other important languages spoken here include English 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 Liberty St / Paterson Ave neighborhood in Paterson, NJ, residents most commonly identify their ethnicity or ancestry as Asian (36.0%). There are also a number of people of South American ancestry (16.8%), and residents who report Puerto Rican roots (13.7%), and some of the residents are also of Mexican ancestry (6.2%), along with some Dominican ancestry residents (5.2%), among others. In addition, 42.8% 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 Liberty St / Paterson Ave neighborhood spend between 15 and 30 minutes commuting one-way to work (44.6% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (69.9%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (16.6%) and 9.4% 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.
SCOUT’s patented match algorithm identifies the most similar neighborhoods to a subject location, and quantifies the similarity to the subject location. This allows analysts to identify the most similar neighborhoods in a local market area for appraisals, investments, and research.
The algorithm uses 273 neighborhood conditions, identifies the dominant dimensions underlying the conditions and calculates the similarity. This captures the true culture and character of locations, economic conditions, and trends.
The closer to 100% means the locations are nearly identical. 80% is a very good, but not excellent match, and so forth.
