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Real Estate Prices & Overview

Downtown Passaic median real estate price is $524,807, which is more expensive than 52.7% of the neighborhoods in New Jersey and 71.5% of the neighborhoods in the U.S.

The average rental price in Downtown Passaic is currently $2,420, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 81.0% of New Jersey neighborhoods.

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

Downtown Passaic 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 Downtown Passaic 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 1970 and 1999.

Home and apartment vacancy rates are 7.1% in Downtown Passaic. NeighborhoodScout analysis shows that this rate is lower than 53.3% of the neighborhoods in the nation, approximately near the middle range for vacancies.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

Real Estate

The Downtown Passaic neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 48,577 persons per square mile in the neighborhood, it is more packed with people than 98.4% of the nation's neighborhoods. 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 Downtown Passaic neighborhood is one of the most walkable neighborhoods in America.

In addition, 93.2% of the real estate in the Downtown Passaic neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood 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 Downtown Passaic neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 69.9% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 98.5% of the neighborhoods in the United States.

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 Downtown Passaic neighborhood has more single mother households than 99.4% 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.

In addition, the Downtown Passaic neighborhood is unique for having just 4.0% of adults here having earned a bachelor's degree. This is a lower rate of college graduates than NeighborhoodScout found in 97.9% of America's neighborhoods.

Occupations

NeighborhoodScout's exclusive research identifies the Downtown Passaic neighborhood as having one of the highest concentrations of people employed in manufacturing or as laborers of any neighborhood in America. In fact, despite the loss of manufacturing jobs nationally, this neighborhood has 43.7% of its working residents employed in such fields, which is a higher proportion than 96.4% of American neighborhoods.

Modes of Transportation

In the Downtown Passaic neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 12.4% of residents here. This is a higher proportion of walking commuters than we found in 96.1% of American neighborhoods. Get ready to put on your walking shoes if you move here!

Diversity

Did you know that the Downtown Passaic neighborhood has more Dominican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 40.5% of this neighborhood's residents have Dominican ancestry.

Downtown Passaic is also pretty special linguistically. Significantly, 90.2% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 99.6% 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 Downtown Passaic neighborhood. What is interesting to note, is that the Downtown Passaic neighborhood has a greater percentage of residents born in another country (50.3%) than are found in 97.7% 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 Downtown Passaic neighborhood in Passaic are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 68.5% of U.S. neighborhoods. With 43.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 91.0% 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 Downtown Passaic neighborhood, 43.7% of the working population is employed in manufacturing and laborer 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 22.0% of the residents employed. Other residents here are employed in executive, management, and professional occupations (18.2%), and 16.0% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Downtown Passaic neighborhood is Spanish, spoken by 90.2% of households. Some people also speak English (9.8%).

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 Downtown Passaic neighborhood in Passaic, NJ, residents most commonly identify their ethnicity or ancestry as Dominican (40.5%). There are also a number of people of Mexican ancestry (39.9%), and residents who report Puerto Rican roots (6.6%), and some of the residents are also of South American ancestry (4.6%). In addition, 50.3% 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 Downtown Passaic neighborhood spend under 15 minutes commuting one-way to work (41.4% of working residents), one of the shortest commutes across America.

Here most residents (60.7%) 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 (13.9%) and 12.4% 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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