What do we mean by a neighborhood?
Ä¢¹½ÊÓƵ® 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. Ä¢¹½ÊÓƵ 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.
Convent Station / Fairleigh Dickinson University Florham median real estate price is $1,331,300, which is more expensive than 94.5% of the neighborhoods in New Jersey and 94.7% of the neighborhoods in the U.S.
The average rental price in Convent Station / Fairleigh Dickinson University Florham is currently $2,515, based on Ä¢¹½ÊÓƵ's exclusive analysis. Rents here are currently lower in price than 78.8% of New Jersey neighborhoods.
Convent Station / Fairleigh Dickinson University Florham is a suburban neighborhood (based on population density) located in Florham Park, New Jersey.
Convent Station / Fairleigh Dickinson University Florham real estate is primarily made up of small (studio to two bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Convent Station / Fairleigh Dickinson University Florham neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.
Vacant apartments or homes are a major fact of life in Convent Station / Fairleigh Dickinson University Florham. The current real estate vacancy rate here is 16.4%. This is higher than the rate of vacancies in 82.1% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.
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 Florham Park, the Convent Station / Fairleigh Dickinson University Florham neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
An extraordinary 45.6% of the residents of the Convent Station / Fairleigh Dickinson University Florham neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.
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 4.6% of America's neighborhoods are wealthier than the Convent Station / Fairleigh Dickinson University Florham 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, if you're planning where to retire, the Convent Station / Fairleigh Dickinson University Florham neighborhood in Florham Park is a great option to consider. According to Ä¢¹½ÊÓƵ's exclusive retirement dream area analysis, it's peaceful and quiet, has above average safety ratings compared to other neighborhoods in NJ, offers a wide range of housing options, and has already attracted an enviable mix of college educated seniors. This neighborhood ranks as better for retirement living than 87.4% of the neighborhoods in New Jersey. If you are considering retiring to New Jersey, this is a good neighborhood to look at. In addition to being an excellent choice for active retirees, this neighborhood is also a very good choice for college students.
Modes of Transportation
In the Convent Station / Fairleigh Dickinson University Florham neighborhood, walking to work is a real option for many. In fact, Ä¢¹½ÊÓƵ's exclusive research reveals walking to and from work is the chosen way to commute for 13.3% of residents here. This is a higher proportion of walking commuters than we found in 96.6% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, in the Convent Station / Fairleigh Dickinson University Florham neighborhood, many people's commute means walking from the bedroom to the home office. Ä¢¹½ÊÓƵ's analysis found that 30.9% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 95.3% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
Diversity
Did you know that the Convent Station / Fairleigh Dickinson University Florham neighborhood has more Dominican and Cuban ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.1% of this neighborhood's residents have Dominican ancestry and 3.1% have Cuban ancestry.
Convent Station / Fairleigh Dickinson University Florham is also pretty special linguistically. Significantly, 9.1% of its residents five years old and above primarily speak Chinese at home. While this may seem like a small percentage, it is higher than 97.6% 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 Convent Station / Fairleigh Dickinson University Florham neighborhood in Florham Park are wealthy, making it among the 15% highest income neighborhoods in America. Ä¢¹½ÊÓƵ's exclusive analysis reveals that this neighborhood has a higher income than 95.4% of the neighborhoods in America. In addition, 1.3% 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 77.4% 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 Convent Station / Fairleigh Dickinson University Florham neighborhood, 56.4% 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 22.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (14.9%), and 6.6% 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 Convent Station / Fairleigh Dickinson University Florham neighborhood is English, spoken by 81.4% of households. Other important languages spoken here include Chinese, Spanish and Langs. of India.
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 Convent Station / Fairleigh Dickinson University Florham neighborhood in Florham Park, NJ, residents most commonly identify their ethnicity or ancestry as Italian (16.9%). There are also a number of people of Asian ancestry (11.9%), and residents who report German roots (9.4%), and some of the residents are also of Irish ancestry (9.3%), along with some English ancestry residents (4.4%), among others. In addition, 10.6% 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 Convent Station / Fairleigh Dickinson University Florham neighborhood spend under 15 minutes commuting one-way to work (44.0% of working residents), one of the shortest commutes across America.
Here most residents (43.3%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (13.3%) and 9.6% 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.
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.
