The Commons at Bay Street median real estate price is $909,056, which is more expensive than 83.3% of the neighborhoods in New Jersey and 88.1% of the neighborhoods in the U.S.
The average rental price in The Commons at Bay Street is currently $3,989, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 80.4% of the neighborhoods in New Jersey.
The Commons at Bay Street is a densely urban neighborhood (based on population density) located in Montclair, New Jersey.
The Commons at Bay Street 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 The Commons at Bay Street 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 2000 and the present.
In The Commons at Bay Street, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in The Commons at Bay Street 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.
With a real estate vacancy rate of only 0.0%, the The Commons at Bay Street neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.
In addition, 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 The Commons at Bay Street neighborhood is one of the most walkable neighborhoods in America.
In the The Commons at Bay Street neighborhood, 23.5% 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 97.7% of the neighborhoods in America.
Executives, managers and professionals make up 71.0% of the workforce in the The Commons at Bay Street neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 95.6% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Did you know that the The Commons at Bay Street neighborhood has more South American and Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.2% of this neighborhood's residents have South American ancestry and 0.6% have Armenian ancestry.
The Commons at Bay Street is also pretty special linguistically. Significantly, 1.9% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 98.5% 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 The Commons at Bay Street neighborhood in Montclair are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 74.6% of the neighborhoods in America. With 26.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 78.1% 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 The Commons at Bay Street neighborhood, 71.0% 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 15.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (10.2%), and 3.3% in manufacturing and laborer 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 The Commons at Bay Street neighborhood is English, spoken by 82.9% of households. Other important languages spoken here include Spanish and Polish.
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 The Commons at Bay Street neighborhood in Montclair, NJ, residents most commonly identify their ethnicity or ancestry as Irish (14.6%). There are also a number of people of Italian ancestry (10.4%), and residents who report English roots (7.1%), and some of the residents are also of Asian ancestry (6.7%), along with some South American ancestry residents (6.2%), among others. In addition, 14.7% 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 The Commons at Bay Street neighborhood spend between 45 minutes and one hour commuting one-way to work (32.4% of working residents), longer and tougher than most commutes in America.
Here most residents (47.1%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (23.5%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.