Menlo Park Terrace West median real estate price is $557,760, which is more expensive than 48.4% of the neighborhoods in New Jersey and 71.5% of the neighborhoods in the U.S.
The average rental price in Menlo Park Terrace West is currently $3,489, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 63.7% of the neighborhoods in New Jersey.
Menlo Park Terrace West is an urban neighborhood (based on population density) located in Edison, New Jersey.
Menlo Park Terrace West 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 Menlo Park Terrace West neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
In Menlo Park Terrace West, the current vacancy rate is 1.5%, which is a lower rate of vacancies than 89.4% of all neighborhoods in the U.S. This means that the housing supply in Menlo Park Terrace West is very tight compared to the demand for property here.
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 Edison, the Menlo Park Terrace West neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
The Menlo Park Terrace West 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 97.7% 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.
In addition, renter-occupied real estate is dominant in the Menlo Park Terrace West neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 97.2%, which is higher than 98.5% 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.
Furthermore, one of the really unique and interesting things about the look and setting of the Menlo Park Terrace West neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 75.6% 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 96.0% of all neighborhoods in America.
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 50.6% 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 99.2% 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.
In the Menlo Park Terrace West neighborhood, 12.7% 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 95.9% of the neighborhoods in America.
The Menlo Park Terrace West neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 95.5% of the neighborhoods in America. In fact, 70.2% 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.
Did you know that the Menlo Park Terrace West neighborhood has more Asian and Ukrainian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 62.9% of this neighborhood's residents have Asian ancestry and 1.8% have Ukrainian ancestry.
Menlo Park Terrace West is also pretty special linguistically. Significantly, 58.7% of its residents five years old and above primarily speak Langs. of India at home. This is a higher percentage than 100.0% of all U.S. neighborhoods.
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 Menlo Park Terrace West neighborhood. What is interesting to note, is that the Menlo Park Terrace West neighborhood has a greater percentage of residents born in another country (59.7%) than are found in 99.2% of all U.S. neighborhoods.
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 Menlo Park Terrace West neighborhood in Edison are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 78.1% of the neighborhoods in America. In addition, 4.3% 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 67.0% of America'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 Menlo Park Terrace West neighborhood, 70.2% 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 16.1% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (10.1%), and 3.6% in sales and service jobs, from major sales accounts, to working in fast food restaurants.
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 Menlo Park Terrace West neighborhood is Langs. of India, spoken by 58.7% of households. Other important languages spoken here include English, Spanish, Polish and Korean.
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 Menlo Park Terrace West neighborhood in Edison, NJ, residents most commonly identify their ethnicity or ancestry as Asian (62.9%). There are also a number of people of Italian ancestry (3.1%), and residents who report Sub-Saharan African roots (2.2%), and some of the residents are also of Native American ancestry (2.1%), along with some South American ancestry residents (2.0%), among others. In addition, 59.7% 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 Menlo Park Terrace West neighborhood spend between 45 minutes and one hour commuting one-way to work (37.3% of working residents), longer and tougher than most commutes in America.
Here most residents (71.4%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (12.7%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.