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Real Estate Prices & Overview

Palisades Park West median real estate price is $1,024,572, which is more expensive than 88.8% of the neighborhoods in New Jersey and 90.8% of the neighborhoods in the U.S.

The average rental price in Palisades Park West is currently $3,230, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 49.7% of New Jersey neighborhoods.

Palisades Park West is a densely urban neighborhood (based on population density) located in Palisades Park, New Jersey.

Palisades Park West 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 small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Palisades Park West 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 2000 and the present.

Real estate vacancies in Palisades Park West are 3.4%, which is lower than one will find in 77.7% of American neighborhoods. Demand for real estate in Palisades Park West 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

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.

Modes of Transportation

More people ride the bus in this neighborhood each day to get to work than 97.2% of U.S. neighborhoods.

People

One of the really interesting characteristics about the Palisades Park West neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 3.9% of college-friendly places to live in the state of New Jersey. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for active retirees.

Diversity

Did you know that the Palisades Park West neighborhood has more Asian and Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 66.1% of this neighborhood's residents have Asian ancestry and 0.8% have Armenian ancestry.

Palisades Park West is also pretty special linguistically. Significantly, 46.1% of its residents five years old and above primarily speak Korean at home. This is a higher percentage than 100.0% of all U.S. neighborhoods.

Migration / Stability

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 Palisades Park West neighborhood has a greater percentage of residents born in another country (64.1%) than are found in 99.5% of all U.S. neighborhoods.

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 Palisades Park West neighborhood in Palisades Park are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 60.1% of the neighborhoods in America. With 50.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 94.2% 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 Palisades Park West neighborhood, 47.3% 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 22.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (18.6%), and 12.0% 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 Palisades Park West neighborhood is Korean, spoken by 46.1% of households. Other important languages spoken here include English, Spanish and Chinese.

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 Palisades Park West neighborhood in Palisades Park, NJ, residents most commonly identify their ethnicity or ancestry as Asian (66.1%). There are also a number of people of Irish ancestry (6.7%), and residents who report Puerto Rican roots (6.0%), and some of the residents are also of German ancestry (5.3%), along with some Italian ancestry residents (3.5%), among others. In addition, 64.1% 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 Palisades Park West neighborhood spend between 15 and 30 minutes commuting one-way to work (38.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (65.2%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (14.7%) and 9.5% 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.


Real Estate includes:
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Economics & Demographics include:
Lifestyle & Special Character
Household Types
Commute To Work
Migration & Mobility
Race & Ethnic Diversity
Employment Industries & Occupations
Income & Unemployment Rate
Higher Education Attainment
Crime includes:
Neighborhood Crime Index
Crimes Per Square Mile
Property Crime Comparison
Violent Crime Comparison
Schools include:
School Ratings
Schools In District
Public School Test Scores
School District Enrollment
Educational Expenditures

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