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.
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.
Single parenting is hard. But you don't have to tell the Hope Ave / Monroe St neighborhood about it; they already know. 34.4% of this neighborhood's households are run by single mothers, which is a higher concentration than NeighborhoodScout found in 99.8% of American neighborhoods. Further NeighborhoodScout research showed strong statistical correlations among high rates of children living in single parent households, and neighborhood crime, particularly violent crime, neighborhood poverty, and, importantly, the percentage of low weight births and rates of infant mortality.
In addition, the Hope Ave / Monroe St neighborhood is unique for having just 5.0% of adults here having earned a bachelor's degree. This is a lower rate of college graduates than NeighborhoodScout found in 97.3% of America's neighborhoods.
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, renter-occupied real estate is dominant in the Hope Ave / Monroe St neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 92.2%, which is higher than 97.4% 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.
Also of note, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 73.4% of the residential real estate in the Hope Ave / Monroe St neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 99.1% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
More people in Hope Ave / Monroe St choose to walk to work each day (24.1%) 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.
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.
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 Hope Ave / Monroe St neighborhood. 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.
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 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
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 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.
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 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.
