Broad St / 3rd Ave median real estate price is $309,667, which is less expensive than 87.8% of New Jersey neighborhoods and 61.8% of all U.S. neighborhoods.
The average rental price in Broad St / 3rd Ave is currently $2,365, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 86.8% of New Jersey neighborhoods.
Broad St / 3rd Ave is a densely urban neighborhood (based on population density) located in Newark, New Jersey.
Broad St / 3rd Ave real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the Broad St / 3rd Ave neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
Home and apartment vacancy rates are 8.4% in Broad St / 3rd Ave. NeighborhoodScout analysis shows that this rate is lower than 45.8% of the neighborhoods in the nation, approximately near the middle range for vacancies.
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 Newark, the Broad St / 3rd Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Occupations
From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the Broad St / 3rd Ave neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 98.9% of all American neighborhoods.
Modes of Transportation
More people ride the bus in this neighborhood each day to get to work than 98.8% of U.S. neighborhoods.
Also, more people in Broad St / 3rd Ave choose to walk to work each day (10.9%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
People
The Broad St / 3rd Ave neighborhood stands out for having an average per capita income lower than 98.6% of the neighborhoods in the United States.
In addition, single parenting is hard. But you don't have to tell the Broad St / 3rd Ave neighborhood about it; they already know. 17.9% of this neighborhood's households are run by single mothers, which is a higher concentration than NeighborhoodScout found in 95.6% of American neighborhoods. Further NeighborhoodScout research showed strong statistical correlations among high rates of children living in single parent households, and neighborhood crime, particularly violent crime, neighborhood poverty, and, importantly, the percentage of low weight births and rates of infant mortality.
Car Ownership
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Broad St / 3rd Ave neighborhood have a highly unusual car ownership. 34.9% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.7% of U.S. neighborhoods.
Real Estate
Corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the Broad St / 3rd Ave neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 39.0% of the real estate here is made up of such dwellings, which is higher than 96.9% of all U.S. neighborhoods.
In addition, if you like crowded places, then you will probably enjoy the the Broad St / 3rd Ave neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 95.9% of neighborhoods in the U.S., with 24,394 people per square mile living here.
Diversity
Did you know that the Broad St / 3rd Ave neighborhood has more Puerto Rican and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 20.8% of this neighborhood's residents have Puerto Rican ancestry and 14.6% have South American ancestry.
Broad St / 3rd Ave is also pretty special linguistically. Significantly, 1.2% of its residents five years old and above primarily speak Portuguese at home. While this may seem like a small percentage, it is higher than 95.6% 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 Broad St / 3rd Ave neighborhood in Newark are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 98.6% of U.S. neighborhoods. With 52.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 94.9% 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 Broad St / 3rd Ave neighborhood, 46.7% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 19.9% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (17.0%), and 16.5% in executive, management, and professional occupations.
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 Broad St / 3rd Ave neighborhood is Spanish, spoken by 53.2% of households. Other important languages spoken here include English and French.
Ethnicity / Ancestry
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 Broad St / 3rd Ave neighborhood in Newark, NJ, residents most commonly identify their ethnicity or ancestry as Puerto Rican (20.8%). There are also a number of people of South American ancestry (14.6%), and residents who report Dominican roots (12.0%), and some of the residents are also of Sub-Saharan African ancestry (4.2%), along with some Haitian ancestry residents (3.6%), among others. In addition, 25.3% 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 Broad St / 3rd Ave neighborhood spend between 30 and 45 minutes commuting one-way to work (36.2% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (51.3%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (21.0%) and 10.9% 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.
