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Real Estate Prices & Overview

Passaic Park East median real estate price is $559,125, which is more expensive than 48.4% of the neighborhoods in New Jersey and 71.3% of the neighborhoods in the U.S.

The average rental price in Passaic Park East is currently $2,634, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 77.5% of New Jersey neighborhoods.

Passaic Park East is a densely urban neighborhood (based on population density) located in Passaic, New Jersey.

Passaic Park East 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 occupied by a mixture of owners and renters. Many of the residences in the Passaic Park East 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 Passaic Park East are 3.4%, which is lower than one will find in 77.3% of American neighborhoods. Demand for real estate in Passaic Park East 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 Passaic, the Passaic Park East neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

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 Passaic Park East neighborhood is one of the most walkable neighborhoods in America.

Modes of Transportation

Our research shows that more people carpool to work here in the Passaic Park East (22.1%) than in 95.0% of the neighborhoods in America.

Diversity

Did you know that the Passaic Park East neighborhood has more Dominican and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 16.3% of this neighborhood's residents have Dominican ancestry and 9.2% have South American ancestry.

Passaic Park East is also pretty special linguistically. Significantly, 5.0% 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 97.2% of the neighborhoods in America.

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 Passaic Park East neighborhood in Passaic are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 64.0% of the neighborhoods in America. In addition, 4.4% 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 66.7% 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 Passaic Park East neighborhood, 39.6% 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 22.8% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (21.2%), and 16.4% 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 Passaic Park East neighborhood is English, spoken by 49.8% of households. Other important languages spoken here include Spanish, Langs. of India and Tagalog (the first language of the Philippine region).

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 Passaic Park East neighborhood in Passaic, NJ, residents most commonly identify their ethnicity or ancestry as Dominican (16.3%). There are also a number of people of Puerto Rican ancestry (11.7%), and residents who report Polish roots (9.4%), and some of the residents are also of South American ancestry (9.2%), along with some Asian ancestry residents (8.6%), among others. In addition, 30.3% 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 Passaic Park East neighborhood spend between 15 and 30 minutes commuting one-way to work (32.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (54.5%) 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 (22.1%) and 5.6% 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.


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