River Bank Park median real estate price is $737,297, which is more expensive than 77.7% of the neighborhoods in New Jersey and 83.7% of the neighborhoods in the U.S.
The average rental price in River Bank Park is currently $2,177, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 88.5% of New Jersey neighborhoods.
River Bank Park is an urban neighborhood (based on population density) located in Newark, New Jersey.
River Bank Park 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 small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the River Bank Park neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
River Bank Park has a 12.3% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 70.5% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are 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 Newark, the River Bank Park neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Modes of Transportation
Our research shows that more people carpool to work here in the River Bank Park (32.1%) than in 99.2% of the neighborhoods in America.
Also, more people ride the bus in this neighborhood each day to get to work than 96.9% of U.S. neighborhoods.
Finally, more people in River Bank Park choose to walk to work each day (11.0%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Occupations
More people work in manufacturing and as laborers here in the River Bank Park neighborhood than in 99.1% of the neighborhoods in America. Despite the loss of manufacturing jobs across the nation, this neighborhood remains a place where, compared to other parts of the country, you will find many laborers and manufacturers.
People
Single parenting is hard. But you don't have to tell the River Bank Park neighborhood about it; they already know. 23.2% of this neighborhood's households are run by single mothers, which is a higher concentration than NeighborhoodScout found in 98.4% of American neighborhoods. Further NeighborhoodScout research showed strong statistical correlations among high rates of children living in single parent households, and neighborhood crime, particularly violent crime, neighborhood poverty, and, importantly, the percentage of low weight births and rates of infant mortality.
In addition, one of the unique characteristics of the River Bank Park neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 95.3% of the neighborhoods in America.
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 River Bank Park neighborhood have a highly unusual car ownership. 37.9% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.9% of U.S. neighborhoods.
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 River Bank Park 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, 45.0% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 97.8% of America's neighborhoods.
In addition, 83.9% of the real estate in the River Bank Park neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Diversity
Did you know that the River Bank Park neighborhood has more Brazilian and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 12.9% of this neighborhood's residents have Brazilian ancestry and 23.4% have South American ancestry.
River Bank Park is also pretty special linguistically. Significantly, 24.8% 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 100.0% of the neighborhoods in America.
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 River Bank Park neighborhood. What is interesting to note, is that the River Bank Park neighborhood has a greater percentage of residents born in another country (50.7%) than are found in 97.8% 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 River Bank Park 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 95.3% of U.S. neighborhoods. With 42.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 90.7% 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 River Bank Park neighborhood, 51.2% 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 28.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (14.0%), and 6.3% 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 River Bank Park neighborhood is Spanish, spoken by 66.8% of households. Other important languages spoken here include Portuguese and English.
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 River Bank Park neighborhood in Newark, NJ, residents most commonly identify their ethnicity or ancestry as South American (23.4%). There are also a number of people of Brazilian ancestry (12.9%), and residents who report Dominican roots (12.3%), and some of the residents are also of Puerto Rican ancestry (8.6%), along with some Portuguese ancestry residents (4.7%), among others. In addition, 50.7% of the residents of this neighborhood were born in another country.
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 River Bank Park neighborhood spend between 15 and 30 minutes commuting one-way to work (35.5% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (33.8%) 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 (32.1%) and 14.0% 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.
