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.
Montgomery St / Prince St median real estate price is $473,719, which is more expensive than 36.6% of the neighborhoods in New Jersey and 60.0% of the neighborhoods in the U.S.
The average rental price in Montgomery St / Prince St is currently $1,824, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 96.6% of New Jersey neighborhoods.
Montgomery St / Prince St is a densely urban neighborhood (based on population density) located in Newark, New Jersey.
Montgomery St / Prince St real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and townhomes. Most of the residential real estate is renter occupied. Many of the residences in the Montgomery St / Prince St neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 and the present.
In Montgomery St / Prince St, the current vacancy rate is 1.4%, which is a lower rate of vacancies than 90.0% of all neighborhoods in the U.S. This means that the housing supply in Montgomery St / Prince St is very tight compared to the demand for property here.
Notable & Unique Neighborhood Characteristics
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
People
The Montgomery St / Prince St neighborhood stands out for having an average per capita income lower than 97.2% of the neighborhoods in the United States. Also of note, 68.6% of the children in this area live in poverty; an extraordinarily high percentage compared to other neighborhoods in the nation. In a nation where approximately one in four children grows up in poverty, this neighborhood stands out for the depth of the problem manifested here.
In addition, whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the Montgomery St / Prince St neighborhood has more single mother households than 98.3% 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.
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 Montgomery St / Prince St neighborhood have a highly unusual car ownership. 39.8% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.1% of U.S. neighborhoods.
Modes of Transportation
Our research revealed that more commuters here take the bus to work (13.2% ride the bus) than 96.6% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.
Real Estate
Renter-occupied real estate is dominant in the Montgomery St / Prince St neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 88.3%, which is higher than 96.3% 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.
In addition, if you like crowded places, then you will probably enjoy the the Montgomery St / Prince St neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 95.0% of neighborhoods in the U.S., with 20,593 people per square mile living here.
Occupations
The government often provides some of the more stable jobs in the economy. From local, to state, to federal government workers, the government can also be a major employer. What NeighborhoodScout's analysis revealed, is that the Montgomery St / Prince St neighborhood in particular stands out when compared nationally for the proportion of its working residents who are employed by the government. At 12.6% of its workforce, this neighborhood has a greater concentration of government workers than 95.0% of U.S. neighborhoods.
Diversity
Did you know that the Montgomery St / Prince St neighborhood has more Haitian and Dominican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 9.9% of this neighborhood's residents have Haitian ancestry and 10.1% have Dominican ancestry.
Montgomery St / Prince St is also pretty special linguistically. Significantly, 4.0% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 98.1% 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 Montgomery St / Prince St 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 97.2% of U.S. neighborhoods. With 68.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 98.3% of U.S. neighborhoods.
The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.
In the Montgomery St / Prince St neighborhood, 31.4% 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 26.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (26.2%), and 15.8% in manufacturing and laborer 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 Montgomery St / Prince St neighborhood is English, spoken by 81.0% of households. Other important languages spoken here include Spanish and African languages.
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 Montgomery St / Prince St neighborhood in Newark, NJ, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (13.4%). There are also a number of people of Dominican ancestry (10.1%), and residents who report Haitian roots (9.9%), and some of the residents are also of Mexican ancestry (6.2%), along with some African ancestry residents (4.0%), among others. In addition, 11.2% 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 Montgomery St / Prince St neighborhood spend between 15 and 30 minutes commuting one-way to work (28.9% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (51.0%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (13.2%) and 12.7% 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.
