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Real Estate Prices & Overview

Old Great Falls Historic District median real estate price is $402,135, which is less expensive than 79.6% of New Jersey neighborhoods and 45.7% of all U.S. neighborhoods.

The average rental price in Old Great Falls Historic District is currently $2,203, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 88.9% of New Jersey neighborhoods.

Old Great Falls Historic District is a densely urban neighborhood (based on population density) located in Paterson, New Jersey.

Old Great Falls Historic District 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 small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Old Great Falls Historic District 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 2000 and the present.

Real estate vacancies in Old Great Falls Historic District are 4.7%, which is lower than one will find in 67.4% of American neighborhoods. Demand for real estate in Old Great Falls Historic District 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

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.

People

Whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the Old Great Falls Historic District neighborhood has more single mother households than 98.9% of the neighborhoods in the U.S. Often high concentrations of single mother homes can be a strong indicator of family and social issues such as poverty, high rates of school dropouts, crime, and other societal problems.

Real Estate

Renter-occupied real estate is dominant in the Old Great Falls Historic District neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 97.9%, which is higher than 98.7% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.

In addition, 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 Old Great Falls Historic District 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 Old Great Falls Historic District neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 63.0% 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

More people in Old Great Falls Historic District choose to walk to work each day (21.7%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.

Also, our research shows that more people carpool to work here in the Old Great Falls Historic District (22.5%) than in 95.2% of the neighborhoods in America.

Car Ownership

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 NeighborhoodScout's analysis revealed that households in the Old Great Falls Historic District neighborhood have a highly unusual car ownership. 31.7% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.3% of U.S. neighborhoods.

Diversity

Did you know that the Old Great Falls Historic District neighborhood has more South American and Dominican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 30.3% of this neighborhood's residents have South American ancestry and 8.0% have Dominican ancestry.

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 Old Great Falls Historic District 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 83.1% of U.S. neighborhoods. With 45.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 92.2% of U.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 Old Great Falls Historic District neighborhood, 31.5% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 30.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (20.3%), and 17.4% in executive, management, and professional occupations.

Languages

The most common language spoken in the Old Great Falls Historic District neighborhood is Spanish, spoken by 52.8% of households. Some people also speak English (42.2%).

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 Old Great Falls Historic District neighborhood in Paterson, NJ, residents most commonly identify their ethnicity or ancestry as South American (30.3%). There are also a number of people of Mexican ancestry (14.4%), and residents who report Dominican roots (8.0%), and some of the residents are also of Sub-Saharan African ancestry (5.7%), along with some African ancestry residents (5.7%), among others. In addition, 40.6% 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 Old Great Falls Historic District neighborhood spend under 15 minutes commuting one-way to work (47.5% of working residents), one of the shortest commutes across America.

Here most residents (45.9%) 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 (22.5%) and 21.7% of residents also hop out the door and walk to work 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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