What do we mean by a neighborhood?
NeighborhoodScout® uses the official government designation for neighborhoods - the census tract.
Census tracts are small, relatively permanent subdivisions of a county that are defined by the U.S. Census Bureau in conjunction with local authorities all across the country to define real neighborhoods that are bounded to contain areas with homogeneous population characteristics (including economic status, lifestyle, and living conditions). Census tracts usually have 4,000 persons, but can range between 1,500 and 8,000 persons. This is the most fine-grained area for which detailed information is made available from the government, to protect the individual privacy of each of us. Because census tracts are based on population, they vary in size depending on the density of settlement. In urban areas, they are small, and in rural areas they can cover an entire small town or even a few small towns in very rural areas.
Since census tracts are subdivisions of a county, we did a spatial overlay of the census tracts onto city and town boundaries using a geographic information system to properly assign each census tract to its appropriate city or town. Then we named each census tract to the local colloquially recognized neighborhood name for that spot (e.g., Boston, MA (Dorchester). If there was not a name available, we named the census tract by the largest street intersection in the census tract (e.g., Worcester, MA (Lincoln St/Plantation St)
Why we don't use Zip Codes as neighborhoods
Zip codes were developed by the Postal Service for the purpose of delivering mail, but were never intended to define coherent neighborhoods. In addition, Zip Codes can have as many as 10 distinctly different census tracts contained within them. When distinct census tracts are blended together in a single Zip Code, the data reflects their average conditions and often gives a false sense of the area. The result is that potentially great matching neighborhoods can be missed, and erroneous matches can also be produced and delivered to you.
Using census tracts makes great matches possible, and helps people find the areas that are best for them and their families. Because we are committed to providing the highest possible quality and finding the neighborhoods that best meet your criteria, we use census tracts. And, as always, we show you the actual street map of the neighborhood so you know exactly where your best matching neighborhood is located.
What is a Condition Alert?
A condition alert is a condition in the neighborhood that triggers an alert. NeighborhoodScout contains condition alerts to highlight conditions that are extreme, whether good or bad. This helps answer crucial questions about the state of the neighborhood being evaluated, such as:
What are the risks of violent crime here?
Is the risk of home break-ins or other property crimes increasing?
Does real estate here hold its value?
Are the trends in local vacancies or unemployment concerning?
...and dozens more.
Information at a glance that you need to know to invest, appraise or finance a property.
Estates of Princeton Junction median real estate price is $1,209,184, which is more expensive than 93.3% of the neighborhoods in New Jersey and 93.7% of the neighborhoods in the U.S.
The average rental price in Estates of Princeton Junction is currently $4,116, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 83.2% of the neighborhoods in New Jersey.
Estates of Princeton Junction is a suburban neighborhood (based on population density) located in Princeton, New Jersey.
Estates of Princeton Junction 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 single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Estates of Princeton Junction neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
Real estate vacancies in Estates of Princeton Junction are 4.4%, which is lower than one will find in 69.7% of American neighborhoods. Demand for real estate in Estates of Princeton Junction 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
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.
Modes of Transportation
In the Estates of Princeton Junction neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 36.9% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 98.2% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
Also, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 13.5% of the Estates of Princeton Junction neighborhood's commuters ride the train to and from work each day, which is more than we found in 96.3% of America's neighborhoods.
People
The rate of college educated adults in the Estates of Princeton Junction neighborhood is a unique characteristic of the neighborhood. 78.4% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 35.0% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 97.2% of all U.S. neighborhoods.
Real Estate
Homes built from 2000 through today make up a higher proportion of the Estates of Princeton Junction neighborhood's real estate landscape than 96.1% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 73.4% of the residential real estate here is classified as newer.
Length of Commute
Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The Estates of Princeton Junction neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the Estates of Princeton Junction neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 9.8% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 95.3% of all neighborhoods in America.
Occupations
The Estates of Princeton Junction neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 95.2% of the neighborhoods in America. In fact, 70.4% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Diversity
Did you know that the Estates of Princeton Junction neighborhood has more Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 44.3% of this neighborhood's residents have Asian ancestry.
Estates of Princeton Junction is also pretty special linguistically. Significantly, 18.1% of its residents five years old and above primarily speak Langs. of India at home. While this may seem like a small percentage, it is higher than 99.8% of the neighborhoods in America.
Migration / Stability
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 Estates of Princeton Junction neighborhood. What is interesting to note, is that the Estates of Princeton Junction neighborhood has a greater percentage of residents born in another country (45.3%) than are found in 96.1% 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 Estates of Princeton Junction neighborhood in Princeton are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 87.3% of the neighborhoods in America. With 46.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 92.9% 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 Estates of Princeton Junction neighborhood, 70.4% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 18.7% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (7.1%), and 3.8% in sales and service jobs, from major sales accounts, to working in fast food restaurants.
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 Estates of Princeton Junction neighborhood is English, spoken by 50.7% of households. Other important languages spoken here include Langs. of India, Spanish and Korean.
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 Estates of Princeton Junction neighborhood in Princeton, NJ, residents most commonly identify their ethnicity or ancestry as Asian (44.3%). There are also a number of people of Italian ancestry (7.6%), and residents who report German roots (4.4%), and some of the residents are also of South American ancestry (3.9%), along with some Irish ancestry residents (3.0%), among others. In addition, 45.3% 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 Estates of Princeton Junction neighborhood spend between 15 and 30 minutes commuting one-way to work (29.1% of working residents), which is shorter than the time spent commuting to work for most Americans. However, there is also a significant group of residents (9.8%) who commute over an hour in each direction.
Here most residents (38.3%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (13.5%) and 11.4% 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.
SCOUT’s patented match algorithm identifies the most similar neighborhoods to a subject location, and quantifies the similarity to the subject location. This allows analysts to identify the most similar neighborhoods in a local market area for appraisals, investments, and research.
The algorithm uses 273 neighborhood conditions, identifies the dominant dimensions underlying the conditions and calculates the similarity. This captures the true culture and character of locations, economic conditions, and trends.
The closer to 100% means the locations are nearly identical. 80% is a very good, but not excellent match, and so forth.
