Median real estate price in the City Center of Margate City is $1,461,564, which is more expensive than 97.0% of the neighborhoods in New Jersey and 96.3% of the neighborhoods in the U.S.
The average rental price in Margate City City Center is currently $2,894, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 67.6% of New Jersey neighborhoods.
Margate City City Center is a suburban neighborhood (based on population density) located in Margate City, New Jersey. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Real estate in the City Center of Margate City, NJ is primarily made up of large (four, five or more bedroom) to medium sized (three or four bedroom) single-family homes and small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the City Center neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 and the present.
Vacant apartments or homes are a major fact of life in Margate City City Center. The current real estate vacancy rate here is 57.5%. This is higher than the rate of vacancies in 99.3% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (51.5%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.
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 Margate City, the City Center neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Do you like a coastal setting? If so, this neighborhood may be to your liking. The Margate City City Center neighborhood is on the ocean, a bay, or inlet. Often such coastal places have amenities and recreational activities on the waterfront that are attractive to residents and visitors alike. In addition to being coastal, Margate City City Center is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.
In addition, despite all of the residential real estate here in the Margate City City Center neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 57.5%, which is higher than 99.3% of all U.S. neighborhoods.
Furthermore, the Margate City City Center neighborhood has earned the amazing distinction of having one of the highest rates of detached, single-family homes of any neighborhood in the U.S. With 99.9% of the residential real estate here made up of free-standing single-family homes, there is a greater proportion of single-family homes here than in 98.8% of all neighborhoods in America.
Also of note, one way that the Margate City City Center neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 98.3% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.
If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 1.5% of America's neighborhoods are wealthier than the Margate City City Center neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. As one would expect in a considerably wealthy neighborhood such as this, Margate City City Center also has one of the lowest ratings of child poverty in the nation.
In addition, a majority of the adults in the Margate City City Center neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for New Jersey by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 100.0% of the neighborhoods in New Jersey. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for urban sophisticates and active retirees.
Also, if knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Margate City City Center neighborhood, where 39.8% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.7% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 96.9% of the neighborhoods in America.
If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 3.5% of residents in the Margate City City Center neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 96.7% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.
Did you know that the Margate City City Center neighborhood has more Eastern European and Hungarian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.8% of this neighborhood's residents have Eastern European ancestry and 5.6% have Hungarian ancestry.
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 City Center neighborhood in Margate City are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 98.5% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America'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 Margate City City Center neighborhood, 67.2% 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 24.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (4.6%), and 3.3% in manufacturing and laborer occupations.
Languages
The most common language spoken in the Margate City City Center neighborhood is English, spoken by 93.8% of households.
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 City Center neighborhood in Margate City, NJ, residents most commonly identify their ethnicity or ancestry as Italian (17.9%). There are also a number of people of Irish ancestry (17.0%), and residents who report German roots (9.0%), and some of the residents are also of Polish ancestry (7.2%), along with some Eastern European ancestry residents (5.8%), among others.
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 Margate City City Center neighborhood spend between 45 minutes and one hour commuting one-way to work (40.7% of working residents), longer and tougher than most commutes in America.
Here most residents (64.8%) 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 (5.6%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
