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Real Estate Prices & Overview

Borough Center / Wellwood median real estate price is $449,735, which is less expensive than 69.4% of New Jersey neighborhoods and 40.0% of all U.S. neighborhoods.

The average rental price in Borough Center / Wellwood is currently $1,925, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 95.3% of New Jersey neighborhoods.

Borough Center / Wellwood is an urban neighborhood (based on population density) located in Merchantville, New Jersey.

Borough Center / Wellwood real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Borough Center / Wellwood 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 1940 and 1969.

Home and apartment vacancy rates are 8.9% in Borough Center / Wellwood. NeighborhoodScout analysis shows that this rate is lower than 43.4% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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 Merchantville, the Borough Center / Wellwood neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Diversity

Did you know that the Borough Center / Wellwood neighborhood has more Puerto Rican and Irish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 18.7% of this neighborhood's residents have Puerto Rican ancestry and 22.4% have Irish ancestry.

Borough Center / Wellwood is also pretty special linguistically. Significantly, 15.4% of its residents five years old and above primarily speak Italian at home. While this may seem like a small percentage, it is higher than 99.2% 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 Borough Center / Wellwood neighborhood in Merchantville are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 50.6% of the neighborhoods in America. With 26.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 77.4% of U.S. neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Borough Center / Wellwood neighborhood, 37.7% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 28.5% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (23.0%), and 9.3% 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 Borough Center / Wellwood neighborhood is English, spoken by 85.2% of households. Other important languages spoken here include Italian, Spanish and Polish.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Borough Center / Wellwood neighborhood in Merchantville, NJ, residents most commonly identify their ethnicity or ancestry as Irish (22.4%). There are also a number of people of Puerto Rican ancestry (18.7%), and residents who report Italian roots (17.8%), and some of the residents are also of German ancestry (13.2%), along with some English ancestry residents (7.8%), 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 Borough Center / Wellwood neighborhood spend between 15 and 30 minutes commuting one-way to work (45.0% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (72.4%) 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 (7.0%) . 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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