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Real Estate Prices & Overview

Springfield - Belmont median real estate price is $385,140, which is less expensive than 80.2% of New Jersey neighborhoods and 46.7% of all U.S. neighborhoods.

The average rental price in Springfield - Belmont is currently $2,825, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 68.9% of New Jersey neighborhoods.

Springfield - Belmont is a densely urban neighborhood (based on population density) located in Newark, New Jersey.

Springfield - Belmont 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 Springfield - Belmont 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 Springfield - Belmont, the current vacancy rate is 2.4%, which is a lower rate of vacancies than 84.0% of all neighborhoods in the U.S. This means that the housing supply in Springfield - Belmont 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 Springfield - Belmont neighborhood stands out for having an average per capita income lower than 99.5% of the neighborhoods in the United States.

In addition, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 60.6%. This is a higher percent living alone than we found in 98.9% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.

Real Estate

95.9% of the real estate in the Springfield - Belmont neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

In addition, many people dream of living along a street lined with row houses or other attached homes. Such places do often have an abundance of charm. If you are one of these people, the Springfield - Belmont neighborhood could be your paradise. With 37.0% of the homes and real estate here classified as rowhouses or other attached homes, this neighborhood brims with opportunity to find the right place for you. Only 2.2% of U.S. neighborhoods have more row houses than this neighborhood, making it one of the most interesting things about this special neighborhood.

Modes of Transportation

Our research revealed that more commuters here take the bus to work (15.4% ride the bus) than 97.4% 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.

Also, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 13.1% of the Springfield - Belmont neighborhood's commuters ride the train to and from work each day, which is more than we found in 96.0% of America's neighborhoods.

Length of Commute

Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The Springfield - Belmont neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the Springfield - Belmont neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 10.0% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 95.4% of all neighborhoods in America.

Diversity

Did you know that the Springfield - Belmont neighborhood has more Sub-Saharan African and African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 23.6% of this neighborhood's residents have Sub-Saharan African ancestry and 13.6% have African ancestry.

Springfield - Belmont is also pretty special linguistically. Significantly, 3.9% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 98.4% of the neighborhoods in America.

Migration / Stability

Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. More residents of the Springfield - Belmont neighborhood live here today that also were living in this same neighborhood five years ago than is found in 95.9% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while.

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 Springfield - Belmont 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 99.5% of U.S. neighborhoods. With 52.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 94.7% of U.S. neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Springfield - Belmont neighborhood, 32.4% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 24.8% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (22.3%), and 20.5% 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 Springfield - Belmont neighborhood is English, spoken by 74.8% of households. Other important languages spoken here include Spanish, Korean and African languages.

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 Springfield - Belmont neighborhood in Newark, NJ, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (23.6%). There are also a number of people of African ancestry (13.6%), and residents who report Arab roots (4.2%), and some of the residents are also of Puerto Rican ancestry (3.7%), along with some Cuban ancestry residents (3.7%), among others. In addition, 17.6% 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 Springfield - Belmont neighborhood spend between 45 minutes and one hour commuting one-way to work (47.2% of working residents), longer and tougher than most commutes in America.

Here most residents (55.6%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (15.4%) and 13.1% of residents also take the train 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.


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