Newstead median real estate price is $1,258,932, which is more expensive than 94.8% of the neighborhoods in New Jersey and 94.6% of the neighborhoods in the U.S.
Average rental prices in the Newstead neighborhood are currently unreported, based on NeighborhoodScout's exclusive analysis.
Newstead is a suburban neighborhood (based on population density) located in South Orange, New Jersey.
Newstead real estate is primarily made up of large (four, five or more bedroom) to medium sized (three or four bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Newstead 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.
In Newstead, the current vacancy rate is 2.5%, which is a lower rate of vacancies than 83.3% of all neighborhoods in the U.S. This means that the housing supply in Newstead is very tight compared to the demand for property here.
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.
People
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 Newstead neighborhood: a neighborhood in which more "urban sophisticates" live than 99.9% 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. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives, families with school-aged children and college students.
In addition, wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Newstead neighborhood is wealthier than 99.5% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood.
Also, priests and therapists would like to think they know the secrets to a truly successful marriage, but according to NeighborhoodScout's research, the folks of the Newstead neighborhood may actually hold the key. 76.3% of its residents are married, which is a higher percentage than is found in 99.3% of the neighborhoods in America.
Finally, the rate of college educated adults in the Newstead neighborhood is a unique characteristic of the neighborhood. 86.1% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 34.3% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 99.2% of all U.S. neighborhoods.
Real Estate
Owner-occupied real estate dominates the Newstead neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 99.8% of neighborhoods in America.
In addition, one way that the Newstead neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 98.3% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.
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 Newstead neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 54.4% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 95.0% of the neighborhoods in the United States.
Occupations
The Newstead neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.4% of the neighborhoods in America. In fact, 82.2% 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.
Modes of Transportation
In the Newstead neighborhood, 27.3% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 97.9% of the neighborhoods in America.
Also, in the Newstead neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 28.8% 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 96.2% 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.
Diversity
Did you know that the Newstead neighborhood has more Eastern European and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.1% of this neighborhood's residents have Eastern European ancestry and 7.2% have Russian ancestry.
Newstead is also pretty special linguistically. Significantly, 3.0% of its residents five years old and above primarily speak French at home. While this may seem like a small percentage, it is higher than 95.2% 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 Newstead neighborhood in South Orange 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 99.5% of the neighborhoods in America. In addition, 1.5% 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 77.0% 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 Newstead neighborhood, 82.2% 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 11.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (4.0%), and 3.8% in government jobs, whether they are in local, state, or federal positions.
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 Newstead neighborhood is English, spoken by 86.1% of households. Other important languages spoken here include Spanish and French.
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 Newstead neighborhood in South Orange, NJ, residents most commonly identify their ethnicity or ancestry as German (13.5%). There are also a number of people of Irish ancestry (11.4%), and residents who report Italian roots (8.8%), and some of the residents are also of Russian ancestry (7.2%), along with some Polish ancestry residents (6.0%), among others. In addition, 12.4% 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 Newstead neighborhood spend between 45 minutes and one hour commuting one-way to work (41.0% of working residents), longer and tougher than most commutes in America.
Here most residents (39.0%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (27.3%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
