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.
North Broadway West median real estate price is $417,221, which is less expensive than 73.8% of New Jersey neighborhoods and 48.8% of all U.S. neighborhoods.
The average rental price in North Broadway West is currently $2,524, based on Ä¢¹½ÊÓƵ's exclusive analysis. Rents here are currently lower in price than 78.6% of New Jersey neighborhoods.
North Broadway West is a densely urban neighborhood (based on population density) located in Newark, New Jersey.
North Broadway West real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the North Broadway 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.
Real estate vacancies in North Broadway West are 4.0%, which is lower than one will find in 72.5% of American neighborhoods. Demand for real estate in North Broadway West is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.
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 Newark, the North Broadway West neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
Single parenting is hard. But you don't have to tell the North Broadway West neighborhood about it; they already know. 21.9% of this neighborhood's households are run by single mothers, which is a higher concentration than Ä¢¹½ÊÓƵ found in 97.9% of American neighborhoods. Further Ä¢¹½ÊÓƵ research showed strong statistical correlations among high rates of children living in single parent households, and neighborhood crime, particularly violent crime, neighborhood poverty, and, importantly, the percentage of low weight births and rates of infant mortality.
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 North Broadway West 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, 43.5% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 97.7% of America's neighborhoods.
In addition, if you like crowded places, then you will probably enjoy the the North Broadway West neighborhood. According to Ä¢¹½ÊÓƵ's exclusive data analysis, this neighborhood is more densely populated than 96.0% of neighborhoods in the U.S., with 24,738 people per square mile living here. 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 North Broadway West neighborhood is among the top 5% of American neighborhoods in terms of walkability.
Car Ownership
We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But Ä¢¹½ÊÓƵ's exclusive analysis shows that the North Broadway West neighborhood has a highly unusual pattern of car ownership. 20.4% of the households in this neighborhood don't own a car at all. This is more carless households than Ä¢¹½ÊÓƵ found in 95.3% of U.S. neighborhoods.
Modes of Transportation
Our research revealed that more commuters here take the bus to work (10.3% ride the bus) than 95.2% 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.
Diversity
Did you know that the North Broadway West neighborhood has more Dominican and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 19.3% of this neighborhood's residents have Dominican ancestry and 20.1% have Puerto Rican ancestry.
North Broadway West is also pretty special linguistically. Significantly, 57.3% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 95.2% 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 North Broadway West neighborhood in Newark are lower-middle income, making it a below average income neighborhood. Ä¢¹½ÊÓƵ's research shows that this neighborhood has an income lower than 78.4% of U.S. neighborhoods. With 45.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 92.0% of U.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 North Broadway West neighborhood, 39.6% of the working population is employed in manufacturing and laborer 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 31.5% of the residents employed. Other residents here are employed in executive, management, and professional occupations (21.6%), and 7.3% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the North Broadway West neighborhood is Spanish, spoken by 57.3% of households. Some people also speak English (33.9%).
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 North Broadway West neighborhood in Newark, NJ, residents most commonly identify their ethnicity or ancestry as Puerto Rican (20.1%). There are also a number of people of Dominican ancestry (19.3%), and residents who report South American roots (10.5%), and some of the residents are also of Sub-Saharan African ancestry (7.1%), along with some Mexican ancestry residents (6.2%), among others. In addition, 41.2% 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 North Broadway West neighborhood spend between 15 and 30 minutes commuting one-way to work (36.0% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (51.7%) 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 (20.9%) and 10.3% of residents also ride the bus 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.
