Hope Ave / Monroe St median real estate price is $613,918, which is more expensive than 53.7% of the neighborhoods in New Jersey and 74.7% of the neighborhoods in the U.S.
The average rental price in Hope Ave / Monroe St is currently $2,706, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 71.0% of New Jersey neighborhoods.
Hope Ave / Monroe St is a densely urban neighborhood (based on population density) located in Passaic, New Jersey.
Hope Ave / Monroe St 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 Hope Ave / Monroe St neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1970 and 1999.
In Hope Ave / Monroe St, the current vacancy rate is 1.4%, which is a lower rate of vacancies than 89.3% of all neighborhoods in the U.S. This means that the housing supply in Hope Ave / Monroe St is very tight compared to the demand for property here.
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 Passaic, the Hope Ave / Monroe St neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the Hope Ave / Monroe St neighborhood has more single mother households than 99.8% 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.
In addition, neighborhoodScout's exclusive research revealed that 95.0% of the adult residents in the Hope Ave / Monroe St neighborhood do not have a 4-year college degree, which is a lower rate of college graduated adults than found in 97.3% of the neighborhoods in America.
The Hope Ave / Monroe St neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 43,291 persons per square mile in the neighborhood, it is more packed with people than 98.1% of the nation's neighborhoods. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The Hope Ave / Monroe St neighborhood is among the top 5% of American neighborhoods in terms of walkability.
In addition, corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the Hope Ave / Monroe St neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 57.5% of the real estate here is made up of such dwellings, which is higher than 99.1% of all U.S. neighborhoods.
Furthermore, 92.2% of the real estate in the Hope Ave / Monroe St neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Also of note, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Hope Ave / Monroe St neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 73.4% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 99.1% of the neighborhoods in the United States.
In the Hope Ave / Monroe St neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 24.1% of residents here. This is a higher proportion of walking commuters than we found in 98.7% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, more people ride the bus in this neighborhood each day to get to work than 97.2% of U.S. neighborhoods.
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 Hope Ave / Monroe St neighborhood have a highly unusual car ownership. 29.5% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.0% of U.S. neighborhoods.
NeighborhoodScout's exclusive research identifies the Hope Ave / Monroe St neighborhood as having one of the highest concentrations of people employed in manufacturing or as laborers of any neighborhood in America. In fact, despite the loss of manufacturing jobs nationally, this neighborhood has 42.5% of its working residents employed in such fields, which is a higher proportion than 95.9% of American neighborhoods.
Did you know that the Hope Ave / Monroe St neighborhood has more Dominican and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 19.2% of this neighborhood's residents have Dominican ancestry and 9.5% have Puerto Rican ancestry.
Hope Ave / Monroe St is also pretty special linguistically. Significantly, 91.8% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 99.7% of all U.S. neighborhoods.
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 Hope Ave / Monroe St neighborhood has a greater percentage of residents born in another country (49.0%) than are found in 97.3% 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 Hope Ave / Monroe St neighborhood in Passaic are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 84.3% of U.S. neighborhoods. With 44.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 91.8% 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 Hope Ave / Monroe St neighborhood, 42.5% 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 33.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (12.8%), and 11.3% in executive, management, and professional occupations.
Languages
The most common language spoken in the Hope Ave / Monroe St neighborhood is Spanish, spoken by 91.8% of households. Some people also speak English (6.2%).
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 Hope Ave / Monroe St neighborhood in Passaic, NJ, residents most commonly identify their ethnicity or ancestry as Mexican (56.6%). There are also a number of people of Dominican ancestry (19.2%), and residents who report Puerto Rican roots (9.5%), and some of the residents are also of South American ancestry (1.9%), along with some Italian ancestry residents (1.1%), among others. In addition, 49.0% 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 Hope Ave / Monroe St neighborhood spend between 15 and 30 minutes commuting one-way to work (40.6% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (39.0%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (24.1%) and 16.7% 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.
