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Real Estate Prices & Overview

South Ironbound median real estate price is $694,248, which is more expensive than 68.6% of the neighborhoods in New Jersey and 80.1% of the neighborhoods in the U.S.

The average rental price in South Ironbound is currently $2,888, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 65.7% of New Jersey neighborhoods.

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

South Ironbound real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the South Ironbound neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

In South Ironbound, the current vacancy rate is 2.4%, which is a lower rate of vacancies than 84.1% of all neighborhoods in the U.S. This means that the housing supply in South Ironbound is very tight compared to the demand for property here.

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 Newark, the South Ironbound 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 South Ironbound (38.4%) than in 99.7% of the neighborhoods in America.

Occupations

More people work in manufacturing and as laborers here in the South Ironbound 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.

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 South Ironbound 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, 48.5% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 98.2% of America's neighborhoods.

Car Ownership

We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the South Ironbound neighborhood has a highly unusual pattern of car ownership. 22.0% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 95.8% of U.S. neighborhoods.

People

The South Ironbound neighborhood stands out within New Jersey for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 7.6% of college-friendly places to live in NJ.

Diversity

Did you know that the South Ironbound neighborhood has more Brazilian and Portuguese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 24.4% of this neighborhood's residents have Brazilian ancestry and 10.7% have Portuguese ancestry.

South Ironbound is also pretty special linguistically. Significantly, 19.3% 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 99.9% of the neighborhoods in America.

Migration / Stability

The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. What is interesting to note, is that the South Ironbound neighborhood has a greater percentage of residents born in another country (59.1%) than are found in 99.1% 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 South Ironbound neighborhood in Newark are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 60.4% of U.S. neighborhoods. With 18.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 66.9% 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 South Ironbound neighborhood, 51.3% 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 21.1% of the residents employed. Other residents here are employed in executive, management, and professional occupations (19.9%), and 6.1% in clerical, assistant, and tech support 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 South Ironbound neighborhood is Spanish, spoken by 40.2% of households. Other important languages spoken here include Portuguese, English and African languages.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the South Ironbound neighborhood in Newark, NJ, residents most commonly identify their ethnicity or ancestry as Brazilian (24.4%). There are also a number of people of South American ancestry (21.5%), and residents who report Portuguese roots (10.7%), and some of the residents are also of Puerto Rican ancestry (5.5%), along with some Italian ancestry residents (3.6%), among others. In addition, 59.1% 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 South Ironbound neighborhood spend between 15 and 30 minutes commuting one-way to work (39.7% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (51.2%) 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 (38.4%) . 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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