Park Avenue median real estate price is $770,999, which is more expensive than 71.6% of the neighborhoods in New Jersey and 82.5% of the neighborhoods in the U.S.
The average rental price in Park Avenue is currently $3,960, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 79.6% of the neighborhoods in New Jersey.
Park Avenue is a suburban neighborhood (based on population density) located in Rutherford, New Jersey.
Park Avenue real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the Park Avenue 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 1940 and 1969.
Real estate vacancies in Park Avenue are 5.5%, which is lower than one will find in 61.8% of American neighborhoods. Demand for real estate in Park Avenue 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.
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.
Think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the Park Avenue neighborhood: a neighborhood in which more "urban sophisticates" live than 97.9% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city.
Would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the Park Avenue neighborhood is a fantastic option for bicycle commuters, as 3.8% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 97.1% of the neighborhoods in America.
Also, more people ride the bus in this neighborhood each day to get to work than 95.3% of U.S. neighborhoods.
The Park Avenue neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 95.4% of the neighborhoods in America. In fact, 70.8% 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.
Did you know that the Park Avenue neighborhood has more South American and Italian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 12.6% of this neighborhood's residents have South American ancestry and 18.4% have Italian ancestry.
Park Avenue is also pretty special linguistically. Significantly, 3.5% 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 95.5% 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 Park Avenue neighborhood in Rutherford 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 94.7% of the neighborhoods in America. In addition, 2.0% 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 74.8% of America'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 Park Avenue neighborhood, 70.8% 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 11.5% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (9.2%), and 8.5% 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 Park Avenue neighborhood is English, spoken by 63.2% of households. Other important languages spoken here include Spanish, Langs. of India and Tagalog (the first language of the Philippine region).
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 Park Avenue neighborhood in Rutherford, NJ, residents most commonly identify their ethnicity or ancestry as Italian (18.4%). There are also a number of people of Irish ancestry (14.8%), and residents who report South American roots (12.6%), and some of the residents are also of Asian ancestry (12.1%), along with some German ancestry residents (8.5%), among others. In addition, 28.3% 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 Park Avenue neighborhood spend between 45 minutes and one hour commuting one-way to work (32.8% of working residents), longer and tougher than most commutes in America.
Here most residents (53.7%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (10.4%) and 8.5% of residents also take the train 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.