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Real Estate Prices & Overview

Median real estate price in the Borough Center of Palisades Park is $914,557, which is more expensive than 84.7% of the neighborhoods in New Jersey and 88.4% of the neighborhoods in the U.S.

The average rental price in Palisades Park Borough Center is currently $3,906, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 76.3% of the neighborhoods in New Jersey.

Palisades Park Borough Center is a densely urban neighborhood (based on population density) located in Palisades Park, New Jersey.

Real estate in the Borough Center of Palisades Park, NJ is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) small apartment buildings and townhomes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Borough Center neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Real estate vacancies in Palisades Park Borough Center are 5.2%, which is lower than one will find in 65.2% of American neighborhoods. Demand for real estate in Palisades Park Borough Center 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.

Modes of Transportation

Our research revealed that more commuters here take the bus to work (25.4% ride the bus) than 99.3% 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.

People

One of the really interesting characteristics about the Palisades Park Borough Center neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 2.9% of college-friendly places to live in the state of New Jersey.

Real Estate

If you love row houses and attached homes, you will probably really like the Palisades Park Borough Center neighborhood. The ambiance, the charm, of row houses is something special. And in sheer abundance of row houses, this neighborhood truly stands out. The real estate here has a higher proportion of row houses and attached homes than nearly any neighborhood in America. In fact, 26.8% of the residential real estate here is classified as row houses and attached homes.

In addition, if you like crowded places, then you will probably enjoy the the Palisades Park Borough Center neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 95.5% of neighborhoods in the U.S., with 22,311 people per square mile living here.

Diversity

Did you know that the Palisades Park Borough Center neighborhood has more Asian and Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 63.4% of this neighborhood's residents have Asian ancestry and 1.3% have Armenian ancestry.

Palisades Park Borough Center is also pretty special linguistically. Significantly, 43.6% of its residents five years old and above primarily speak Korean at home. This is a higher percentage than 100.0% of all U.S. neighborhoods.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Palisades Park Borough Center neighborhood. What is interesting to note, is that the Palisades Park Borough Center neighborhood has a greater percentage of residents born in another country (57.8%) than are found in 99.0% 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 Borough Center neighborhood in Palisades Park are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 81.8% of the neighborhoods in America. With 17.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 64.8% of U.S. neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Palisades Park Borough Center neighborhood, 42.4% 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 23.3% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (18.2%), and 16.1% 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 Palisades Park Borough Center neighborhood is Korean, spoken by 43.6% of households. Other important languages spoken here include English, Spanish and Chinese.

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 Borough Center neighborhood in Palisades Park, NJ, residents most commonly identify their ethnicity or ancestry as Asian (63.4%). There are also a number of people of South American ancestry (3.3%), and residents who report Italian roots (2.5%), and some of the residents are also of Dominican ancestry (2.4%), along with some Polish ancestry residents (2.0%), among others. In addition, 57.8% of the residents of this neighborhood were born in another country.

Getting to Work

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 Palisades Park Borough Center neighborhood spend between 15 and 30 minutes commuting one-way to work (40.0% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (55.2%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (25.4%) and 6.6% of residents also carpool with coworkers, friends, or neighbors 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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