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Real Estate Prices & Overview

Riverside South median real estate price is $388,006, which is less expensive than 78.2% of New Jersey neighborhoods and 48.2% of all U.S. neighborhoods.

The average rental price in Riverside South is currently $2,821, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 69.1% of New Jersey neighborhoods.

Riverside South is a densely urban neighborhood (based on population density) located in Paterson, New Jersey.

Riverside South real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) small apartment buildings and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Riverside South neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Home and apartment vacancy rates are 6.4% in Riverside South. NeighborhoodScout analysis shows that this rate is lower than 57.6% 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 Paterson, the Riverside South neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The Riverside South neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 56.2% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 98.9% of America's neighborhoods.

In addition, the Riverside South neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 30,529 persons per square mile in the neighborhood, it is more packed with people than 97.0% of the nation's neighborhoods. 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 Riverside South neighborhood is one of the most walkable neighborhoods in America.

Diversity

Did you know that the Riverside South neighborhood has more Dominican and Jamaican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 35.1% of this neighborhood's residents have Dominican ancestry and 10.0% have Jamaican ancestry.

Migration / Stability

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 Riverside South neighborhood. What is interesting to note, is that the Riverside South neighborhood has a greater percentage of residents born in another country (53.6%) than are found in 98.4% of all U.S. neighborhoods.

The Neighbors

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 Riverside South neighborhood in Paterson are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 46.5% of the neighborhoods in America. With 25.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 76.7% 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 Riverside South neighborhood, 37.2% of the working population is employed in manufacturing and laborer 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 24.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (20.0%), and 18.0% 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 Riverside South neighborhood is Spanish, spoken by 50.6% 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 Riverside South neighborhood in Paterson, NJ, residents most commonly identify their ethnicity or ancestry as Dominican (35.1%). There are also a number of people of Jamaican ancestry (10.0%), and residents who report Sub-Saharan African roots (9.5%), and some of the residents are also of African ancestry (9.2%), along with some Mexican ancestry residents (8.5%), among others. In addition, 53.6% of the residents of this neighborhood were born in another country.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Riverside South neighborhood spend between 15 and 30 minutes commuting one-way to work (45.7% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (65.7%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (17.8%) and 7.6% 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.


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