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Real Estate Prices & Overview

The Reserve at Lake Oberst median real estate price is $397,887, which is less expensive than 79.2% of New Jersey neighborhoods and 47.4% of all U.S. neighborhoods.

The average rental price in The Reserve at Lake Oberst is currently $2,171, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 90.3% of New Jersey neighborhoods.

The Reserve at Lake Oberst is a suburban neighborhood (based on population density) located in Glassboro, New Jersey.

The Reserve at Lake Oberst real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the The Reserve at Lake Oberst neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Real estate vacancies in The Reserve at Lake Oberst are 4.8%, which is lower than one will find in 66.6% of American neighborhoods. Demand for real estate in The Reserve at Lake Oberst is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

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 Glassboro, the The Reserve at Lake Oberst neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

According to NeighborhoodScout's research, The Reserve at Lake Oberst is better suited for first-time home buyers than 87.1% of neighborhoods in the state. Most homes here are priced below the state's median house value, yet maintain comparably good appreciation rates over the last decade relative to other neighborhoods in New Jersey. Along with an exclusive multi-metric measure of neighborhood quality developed by NeighborhoodScout that scores high here in this neighborhood, this means that buying into the neighborhood is not only an accessible option but considered a decent first time home buyer choice for building equity in your first home, while being in a quality neighborhood

Diversity

Did you know that the The Reserve at Lake Oberst neighborhood has more Italian and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 18.9% of this neighborhood's residents have Italian ancestry and 9.3% have Puerto Rican ancestry.

The Reserve at Lake Oberst is also pretty special linguistically. Significantly, 1.1% of its residents five years old and above primarily speak Urdu, which is the national language of Pakistan, at home. While this may seem like a small percentage, it is higher than 97.5% of the neighborhoods in America.

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 The Reserve at Lake Oberst neighborhood in Glassboro are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 72.4% of U.S. neighborhoods. With 34.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 85.3% 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 The Reserve at Lake Oberst neighborhood, 33.1% of the working population is employed in executive, management, and professional 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 26.7% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (21.8%), and 18.1% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the The Reserve at Lake Oberst neighborhood is English, spoken by 83.7% of households. Some people also speak Spanish (11.1%).

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 The Reserve at Lake Oberst neighborhood in Glassboro, NJ, residents most commonly identify their ethnicity or ancestry as Italian (18.9%). There are also a number of people of Irish ancestry (18.1%), and residents who report German roots (14.4%), and some of the residents are also of English ancestry (9.7%), along with some Puerto Rican ancestry residents (9.3%), among others.

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 The Reserve at Lake Oberst neighborhood spend under 15 minutes commuting one-way to work (33.1% of working residents), one of the shortest commutes across America.

Here most residents (71.1%) 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 (10.0%) and 5.7% 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.


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