Newport median real estate price is $1,208,121, which is more expensive than 94.1% of the neighborhoods in New Jersey and 94.0% of the neighborhoods in the U.S.
The average rental price in Newport is currently $6,309, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 97.5% of the neighborhoods in New Jersey.
Newport is a densely urban neighborhood (based on population density) located in Jersey City, New Jersey.
Newport 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 Newport neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.
Real estate vacancies in Newport are 5.6%, which is lower than one will find in 62.5% of American neighborhoods. Demand for real estate in Newport 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.
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 Jersey City, the Newport neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
In a nation where 1 out of every 4 children lives in poverty, the Newport neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 67.5% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 100.0% of U.S. neighborhoods, where the average American neighborhood has 13.4% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.
Also, a unique characteristic about the people in the Newport neighborhood is that a majority of them are young, single professionals. In fact, there are more young, single professionals in this one community than 97.8% of neighborhoods in the U.S. Here you'll find an active nightlife nearby with lots of opportunities to flirt and find romance. In addition to being an excellent choice for young, single professionals, this neighborhood is also a very good choice for urban sophisticates.
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 Newport neighborhood have a highly unusual car ownership. 71.3% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.6% of U.S. neighborhoods.
Modes of Transportation
In the Newport neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 39.1% 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 99.4% 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.
Also, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 46.0% of the Newport neighborhood's commuters ride the train to and from work each day, which is more than we found in 99.2% of America's neighborhoods.
Occupations
The Newport neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.4% of the neighborhoods in America. In fact, 81.8% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Real Estate
One of the really unique and interesting things about the look and setting of the Newport neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 96.9% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 99.4% of all neighborhoods in America.
In addition, the Newport 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 93.4% 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.
Furthermore, the Newport neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 37,596 persons per square mile in the neighborhood, it is more packed with people than 97.7% of the nation's neighborhoods.
Also of note, renter-occupied real estate is dominant in the Newport neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 90.5%, which is higher than 96.9% 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.
Migration / Stability
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? NeighborhoodScout'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 Newport neighborhood has a greater percentage of residents born in another country (73.3%) than are found in 99.8% of all U.S. neighborhoods.
Diversity
Did you know that the Newport neighborhood has more Asian and Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 68.6% of this neighborhood's residents have Asian ancestry and 2.2% have Greek ancestry.
Newport is also pretty special linguistically. Significantly, 22.6% 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 99.9% of the neighborhoods in America.
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 Newport neighborhood in Jersey City are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 92.3% 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 Newport neighborhood, 81.8% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 7.7% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (6.7%), and 3.8% in manufacturing and laborer 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 Newport neighborhood is English, spoken by 26.9% of households. Other important languages spoken here include Langs. of India and Chinese.
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 Newport neighborhood in Jersey City, NJ, residents most commonly identify their ethnicity or ancestry as Asian (68.6%). There are also a number of people of Italian ancestry (6.5%), and residents who report German roots (5.7%), and some of the residents are also of Sub-Saharan African ancestry (3.8%), along with some Irish ancestry residents (2.8%), among others. In addition, 73.3% 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 Newport neighborhood spend between 30 and 45 minutes commuting one-way to work (47.2% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (46.0%) take the train to get to work. In addition, quite a number also hop out the door and walk to work to get to work (8.6%) . 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.
