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Real Estate Prices & Overview

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

Three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The Liberty St / Paterson Ave neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 66.1% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 99.6% of America'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. Being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the Liberty St / Paterson Ave neighborhood is one of the most walkable neighborhoods in America.

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

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 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 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 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

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 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.


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