What do we mean by a neighborhood?
NeighborhoodScout® uses the official government designation for neighborhoods - the census tract.
Census tracts are small, relatively permanent subdivisions of a county that are defined by the U.S. Census Bureau in conjunction with local authorities all across the country to define real neighborhoods that are bounded to contain areas with homogeneous population characteristics (including economic status, lifestyle, and living conditions). Census tracts usually have 4,000 persons, but can range between 1,500 and 8,000 persons. This is the most fine-grained area for which detailed information is made available from the government, to protect the individual privacy of each of us. Because census tracts are based on population, they vary in size depending on the density of settlement. In urban areas, they are small, and in rural areas they can cover an entire small town or even a few small towns in very rural areas.
Since census tracts are subdivisions of a county, we did a spatial overlay of the census tracts onto city and town boundaries using a geographic information system to properly assign each census tract to its appropriate city or town. Then we named each census tract to the local colloquially recognized neighborhood name for that spot (e.g., Boston, MA (Dorchester). If there was not a name available, we named the census tract by the largest street intersection in the census tract (e.g., Worcester, MA (Lincoln St/Plantation St)
Why we don't use Zip Codes as neighborhoods
Zip codes were developed by the Postal Service for the purpose of delivering mail, but were never intended to define coherent neighborhoods. In addition, Zip Codes can have as many as 10 distinctly different census tracts contained within them. When distinct census tracts are blended together in a single Zip Code, the data reflects their average conditions and often gives a false sense of the area. The result is that potentially great matching neighborhoods can be missed, and erroneous matches can also be produced and delivered to you.
Using census tracts makes great matches possible, and helps people find the areas that are best for them and their families. Because we are committed to providing the highest possible quality and finding the neighborhoods that best meet your criteria, we use census tracts. And, as always, we show you the actual street map of the neighborhood so you know exactly where your best matching neighborhood is located.
What is a Condition Alert?
A condition alert is a condition in the neighborhood that triggers an alert. NeighborhoodScout contains condition alerts to highlight conditions that are extreme, whether good or bad. This helps answer crucial questions about the state of the neighborhood being evaluated, such as:
What are the risks of violent crime here?
Is the risk of home break-ins or other property crimes increasing?
Does real estate here hold its value?
Are the trends in local vacancies or unemployment concerning?
...and dozens more.
Information at a glance that you need to know to invest, appraise or finance a property.
Broad St / 3rd Ave median real estate price is $500,926, which is more expensive than 35.4% of the neighborhoods in New Jersey and 65.6% of the neighborhoods in the U.S.
The average rental price in Broad St / 3rd Ave is currently $2,203, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 88.9% 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 1940 and 1969.
Home and apartment vacancy rates are 8.3% in Broad St / 3rd Ave. NeighborhoodScout analysis shows that this rate is lower than 45.2% of the neighborhoods in the nation, approximately near the middle range for vacancies.
Notable & Unique Neighborhood Characteristics
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.
Modes of Transportation
More people ride the bus in this neighborhood each day to get to work than 99.6% of U.S. neighborhoods.
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. 47.1% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.5% of U.S. neighborhoods.
People
One of the unique characteristics of the Broad St / 3rd Ave neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 97.5% of the neighborhoods in America.
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 40.4% of the real estate here is made up of such dwellings, which is higher than 97.2% 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.
Occupations
There are more people living in the Broad St / 3rd Ave neighborhood employed as sales and service workers (61.7%) than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.
Diversity
Did you know that the Broad St / 3rd Ave neighborhood has more Dominican and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 23.9% of this neighborhood's residents have Dominican ancestry and 15.5% have Puerto Rican 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.
The Neighbors
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 97.5% of U.S. neighborhoods. With 52.2% 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, 38.3% 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 manufacturing and laborer occupations, with 25.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (23.8%), and 12.3% in executive, management, and professional occupations.
Languages
The most common language spoken in the Broad St / 3rd Ave neighborhood is Spanish, spoken by 53.8% of households. Some people also speak English (45.4%).
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 Broad St / 3rd Ave neighborhood in Newark, NJ, residents most commonly identify their ethnicity or ancestry as Dominican (23.9%). There are also a number of people of Puerto Rican ancestry (15.5%), and residents who report South American roots (8.7%), and some of the residents are also of Sub-Saharan African ancestry (5.8%), along with some Haitian ancestry residents (2.7%), among others. In addition, 30.0% of the residents of this neighborhood were born in another country.
Getting to Work
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 15 and 30 minutes commuting one-way to work (45.5% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (38.7%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (28.2%) and 10.2% of residents also carpool with coworkers, friends, or neighbors 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.
SCOUT’s patented match algorithm identifies the most similar neighborhoods to a subject location, and quantifies the similarity to the subject location. This allows analysts to identify the most similar neighborhoods in a local market area for appraisals, investments, and research.
The algorithm uses 273 neighborhood conditions, identifies the dominant dimensions underlying the conditions and calculates the similarity. This captures the true culture and character of locations, economic conditions, and trends.
The closer to 100% means the locations are nearly identical. 80% is a very good, but not excellent match, and so forth.
