Independence Park median real estate price is $639,800, which is more expensive than 58.1% of the neighborhoods in New Jersey and 76.3% of the neighborhoods in the U.S.
The average rental price in Independence Park is currently $3,070, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 52.5% of New Jersey neighborhoods.
Independence Park is a densely urban neighborhood (based on population density) located in Newark, New Jersey.
Independence Park 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 Independence Park neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
In Independence Park, the current vacancy rate is 2.5%, which is a lower rate of vacancies than 82.3% of all neighborhoods in the U.S. This means that the housing supply in Independence Park is very tight compared to the demand for property here.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
Our research shows that more people carpool to work here in the Independence Park (41.8%) than in 99.8% of the neighborhoods in America.
Also, more people in Independence Park choose to walk to work each day (11.5%) 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.
Finally, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 10.3% of the Independence Park neighborhood's commuters ride the train to and from work each day, which is more than we found in 95.5% of America's neighborhoods.
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 Independence 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, 65.6% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 99.5% of America's neighborhoods.
In addition, renter-occupied real estate is dominant in the Independence Park neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 91.6%, which is higher than 97.3% 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.
Furthermore, if you like crowded places, then you will probably enjoy the the Independence Park neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.1% of neighborhoods in the U.S., with 25,292 people per square mile living here.
More people work in manufacturing and as laborers here in the Independence Park neighborhood than in 99.4% 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.
American households most often have a car, and regularly they have two or three. But households in the Independence Park neighborhood buck this trend. 29.5% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.1% of U.S. neighborhoods.
Did you know that the Independence Park neighborhood has more Brazilian and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 28.4% of this neighborhood's residents have Brazilian ancestry and 42.9% have South American ancestry.
Independence Park is also pretty special linguistically. Significantly, 43.2% of its residents five years old and above primarily speak Portuguese at home. This is a higher percentage than 100.0% of all U.S. neighborhoods.
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 Independence Park neighborhood. What is interesting to note, is that the Independence Park neighborhood has a greater percentage of residents born in another country (71.1%) than are found in 99.8% of all U.S. neighborhoods.
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 Independence 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 89.2% of U.S. neighborhoods. With 23.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 74.9% 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 Independence Park neighborhood, 52.9% 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 30.7% of the residents employed. Other residents here are employed in executive, management, and professional occupations (14.1%), and 2.3% 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 Independence Park neighborhood is Spanish, spoken by 55.2% of households. Other important languages spoken here include Portuguese and English.
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 Independence Park neighborhood in Newark, NJ, residents most commonly identify their ethnicity or ancestry as South American (42.9%). There are also a number of people of Brazilian ancestry (28.4%), and residents who report Spanish roots (7.0%), and some of the residents are also of Portuguese ancestry (6.2%), along with some Italian ancestry residents (3.4%), among others. In addition, 71.1% 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 Independence Park neighborhood spend between 15 and 30 minutes commuting one-way to work (42.1% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (41.8%) carpool with coworkers, friends, or neighbors to get to work. In addition, quite a number also drive alone in a private automobile to get to work (33.8%) and 11.5% of residents also hop out the door and walk to work for their daily commute. Despite relying on the automobile to get to work, residents of this neighborhood share the ride more than most neighborhoods, reducing traffic, pollution, and saving money.
