Riverside Southwest median real estate price is $314,915, which is less expensive than 86.6% of New Jersey neighborhoods and 61.4% of all U.S. neighborhoods.
The average rental price in Riverside Southwest is currently $2,500, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 79.6% of New Jersey neighborhoods.
Riverside Southwest is a densely urban neighborhood (based on population density) located in Paterson, New Jersey.
Riverside Southwest real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Riverside Southwest 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 1940 and 1969.
Real estate vacancies in Riverside Southwest are 5.0%, which is lower than one will find in 65.3% of American neighborhoods. Demand for real estate in Riverside Southwest is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.
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 Southwest neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
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 Riverside Southwest 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 83.3% of the real estate here is made up of such dwellings, which is higher than 100.0% of all U.S. neighborhoods.
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 Riverside Southwest neighborhood is one of the most walkable neighborhoods in America.
Furthermore, renter-occupied real estate is dominant in the Riverside Southwest neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 86.5%, which is higher than 95.8% 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.
Whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the Riverside Southwest neighborhood has more single mother households than 99.9% of the neighborhoods in the U.S. Often high concentrations of single mother homes can be a strong indicator of family and social issues such as poverty, high rates of school dropouts, crime, and other societal problems.
In addition, the Riverside Southwest neighborhood has a greater percentage of children living in poverty (56.1%) than found in 96.1% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.
Our research shows that more people carpool to work here in the Riverside Southwest (24.1%) than in 96.4% of the neighborhoods in America.
Also, more people ride the bus in this neighborhood each day to get to work than 95.7% of U.S. neighborhoods.
Did you know that the Riverside Southwest neighborhood has more Dominican and Jamaican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 33.9% of this neighborhood's residents have Dominican ancestry and 11.6% have Jamaican ancestry.
Riverside Southwest is also pretty special linguistically. Significantly, 75.5% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 98.2% 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 Riverside Southwest neighborhood in Paterson are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 89.3% of U.S. neighborhoods. With 56.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 96.1% 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 Riverside Southwest neighborhood, 37.9% 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 32.4% of the residents employed. Other residents here are employed in executive, management, and professional occupations (18.5%), and 11.2% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Riverside Southwest neighborhood is Spanish, spoken by 75.5% of households. Some people also speak English (24.5%).
Ethnicity / Ancestry
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the Riverside Southwest neighborhood in Paterson, NJ, residents most commonly identify their ethnicity or ancestry as Dominican (33.9%). There are also a number of people of Puerto Rican ancestry (20.5%), and residents who report Jamaican roots (11.6%), and some of the residents are also of South American ancestry (10.9%), along with some Mexican ancestry residents (5.2%), among others. In addition, 40.3% of the residents of this neighborhood were born in another country.
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 Southwest neighborhood spend between 15 and 30 minutes commuting one-way to work (39.3% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (56.0%) 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 (24.1%) and 11.1% of residents also ride the bus 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.
