Preakness South median real estate price is $879,138, which is more expensive than 83.0% of the neighborhoods in New Jersey and 87.6% of the neighborhoods in the U.S.
The average rental price in Preakness South is currently $1,907, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 95.6% of New Jersey neighborhoods.
Preakness South is a suburban neighborhood (based on population density) located in Wayne, New Jersey.
Preakness South real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two 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 Preakness South neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
In Preakness South, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Preakness South is very tight compared to the demand for property here.
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 Wayne, the Preakness South neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
With a real estate vacancy rate of only 0.0%, the Preakness South neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.
In a nation where 1 out of every 4 children lives in poverty, the Preakness South neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, if you're nearing retirement age, or in retirement, the Preakness South is an excellent choice for you to consider for top-quality retirement living. This neighborhood is rated by NeighborhoodScout as among the top 9.7% of retiree-friendly neighborhoods in New Jersey, combining peace and quiet, safety from crime, and offering diverse housing options from which retirees can choose. Maybe it's because of these amenities that a large proportion of the residents here are college educated seniors, mixed with other age groups. For these and other reasons, NeighborhoodScout identifies this neighborhood as a top-notch place to consider if you are thinking of or planning to retire in New Jersey.
Did you know that the Preakness South neighborhood has more Croatian and Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.7% of this neighborhood's residents have Croatian ancestry and 9.2% have Arab ancestry.
Preakness South is also pretty special linguistically. Significantly, 4.2% of its residents five years old and above primarily speak Arabic at home. While this may seem like a small percentage, it is higher than 97.9% of the neighborhoods in America.
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 Preakness South neighborhood in Wayne are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 72.0% 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.
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 Preakness South neighborhood, 54.8% 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 19.8% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (15.9%), and 9.5% in clerical, assistant, and tech support occupations.
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 Preakness South neighborhood is English, spoken by 75.3% of households. Other important languages spoken here include Spanish, Langs. of India, Arabic and Italian.
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 Preakness South neighborhood in Wayne, NJ, residents most commonly identify their ethnicity or ancestry as Italian (26.1%). There are also a number of people of Irish ancestry (13.0%), and residents who report Asian roots (11.0%), and some of the residents are also of Arab ancestry (9.2%), along with some German ancestry residents (7.3%), among others. In addition, 17.4% of the residents of this neighborhood were born in another country.
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 Preakness South neighborhood spend between 15 and 30 minutes commuting one-way to work (36.3% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (73.7%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (5.8%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.