Exchange Place median real estate price is $1,309,426, 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 Exchange Place is currently $6,728, based on Ä¢¹½ÊÓƵ's exclusive analysis. The average rental cost in this neighborhood is higher than 99.0% of the neighborhoods in New Jersey.
Exchange Place is a densely urban neighborhood (based on population density) located in Jersey City, New Jersey.
Exchange Place real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Exchange Place neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
Exchange Place has a 9.6% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 61.2% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by Ä¢¹½ÊÓƵ's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
Wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to Ä¢¹½ÊÓƵ's research, the Exchange Place neighborhood is wealthier than 98.9% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood. As one would expect in a considerably wealthy neighborhood such as this, Exchange Place also has one of the lowest ratings of child poverty in the nation.
In addition, the rate of college educated adults in the Exchange Place neighborhood is a unique characteristic of the neighborhood. 90.1% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 35.0% of the adults with a bachelor's degree. The rate here is higher than Ä¢¹½ÊÓƵ found in 99.7% of all U.S. neighborhoods.
Also, exchange Place has the amazing distinction of housing more same sex couples living together than 98.0% of neighborhoods in the U.S. If you are seeking such a neighborhood, Ä¢¹½ÊÓƵ's analysis shows that this is one place that you should consider.
Finally, if you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Exchange Place neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 95.9% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Exchange Place neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for young, single professionals.
In the Exchange Place neighborhood, 5.6% of people ride a ferry to work each day. This is a very high percentage compared to most places. In fact, Ä¢¹½ÊÓƵ's analysis reveals that this is a higher level of ferry ridership than in 99.9% of the neighborhoods in America.
Also, if you like to ride the train to work, this neighborhood may be for you. Ä¢¹½ÊÓƵ's research revealed that 42.5% of the Exchange Place neighborhood's commuters ride the train to and from work each day, which is more than we found in 99.1% of America's neighborhoods.
Finally, in the Exchange Place neighborhood, many people's commute means walking from the bedroom to the home office. Ä¢¹½ÊÓƵ's analysis found that 35.2% 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 97.6% 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.
The real estate in the Exchange Place neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 97.5% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.5% of American neighborhoods.
In addition, the Exchange Place neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 60,034 persons per square mile in the neighborhood, it is more packed with people than 98.8% of the nation's neighborhoods.
Furthermore, the Exchange Place neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 92.6% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
Executives, managers and professionals make up 78.8% of the workforce in the Exchange Place neighborhood which, according to Ä¢¹½ÊÓƵ's exclusive analysis, is a higher proportion of such high-level people than is found in 98.6% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But Ä¢¹½ÊÓƵ's analysis revealed that households in the Exchange Place neighborhood have a highly unusual car ownership. 36.7% of the households in this neighborhood don't own a car at all. This is more carless households than Ä¢¹½ÊÓƵ found in 97.8% of U.S. neighborhoods.
Did you know that the Exchange Place neighborhood has more Asian and British ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 47.1% of this neighborhood's residents have Asian ancestry and 3.2% have British ancestry.
Exchange Place is also pretty special linguistically. Significantly, 8.5% of its residents five years old and above primarily speak Langs. of India at home. While this may seem like a small percentage, it is higher than 98.9% of the neighborhoods in America.
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? Ä¢¹½ÊÓƵ'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 Exchange Place neighborhood has a greater percentage of residents born in another country (51.2%) than are found in 97.8% of all U.S. neighborhoods.
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. Ä¢¹½ÊÓƵ's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the Exchange Place neighborhood in Jersey City 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 98.9% 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.
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 Exchange Place neighborhood, 78.8% 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 14.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (5.8%), and 3.8% in government jobs, whether they are in local, state, or federal positions.
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 Exchange Place neighborhood is English, spoken by 52.4% of households. Other important languages spoken here include Chinese 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 Exchange Place neighborhood in Jersey City, NJ, residents most commonly identify their ethnicity or ancestry as Asian (47.1%). There are also a number of people of Irish ancestry (10.1%), and residents who report English roots (6.6%), and some of the residents are also of Italian ancestry (5.8%), along with some German ancestry residents (3.6%), among others. In addition, 51.2% of the residents of this neighborhood were born in another country.
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 Exchange Place neighborhood spend between 45 minutes and one hour commuting one-way to work (37.4% of working residents), longer and tougher than most commutes in America.
Here most residents (42.5%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (8.3%) and 5.6% of residents also ride a ferry for their daily commute. This neighborhood is distinguished by the high number of residents who take the train to work each day, which can be a very good way to get to work at a lower cost and with less pollution.
