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Real Estate Prices & Overview

Cherry Hill / Borough Center median real estate price is $898,750, which is more expensive than 81.3% of the neighborhoods in New Jersey and 87.0% of the neighborhoods in the U.S.

The average rental price in Cherry Hill / Borough Center is currently $4,073, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 80.3% of the neighborhoods in New Jersey.

Cherry Hill / Borough Center is an urban neighborhood (based on population density) located in River Edge, New Jersey.

Cherry Hill / Borough Center real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the Cherry Hill / Borough Center neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

In Cherry Hill / Borough Center, the current vacancy rate is 0.3%, which is a lower rate of vacancies than 93.3% of all neighborhoods in the U.S. This means that the housing supply in Cherry Hill / Borough Center is very tight compared to the demand for property here.

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 River Edge, the Cherry Hill / Borough Center neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 1.6% of America's neighborhoods are wealthier than the Cherry Hill / Borough Center neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. As one would expect in a considerably wealthy neighborhood such as this, Cherry Hill / Borough Center also has one of the lowest ratings of child poverty in the nation.

In addition, think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the Cherry Hill / Borough Center neighborhood: a neighborhood in which more "urban sophisticates" live than 99.5% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for families with school-aged children, college students and highly educated executives.

Also, priests and therapists would like to think they know the secrets to a truly successful marriage, but according to NeighborhoodScout's research, the folks of the Cherry Hill / Borough Center neighborhood may actually hold the key. 70.2% of its residents are married, which is a higher percentage than is found in 96.4% of the neighborhoods in America.

Finally, the rate of college educated adults in the Cherry Hill / Borough Center neighborhood is a unique characteristic of the neighborhood. 75.7% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 34.3% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 96.4% of all U.S. neighborhoods.

Real Estate

Owner-occupied real estate dominates the Cherry Hill / Borough Center neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 98.1% of neighborhoods in America.

Diversity

Did you know that the Cherry Hill / Borough Center neighborhood has more Eastern European and Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.0% of this neighborhood's residents have Eastern European ancestry and 2.0% have Armenian ancestry.

Cherry Hill / Borough Center is also pretty special linguistically. Significantly, 10.5% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 99.7% 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 Cherry Hill / Borough Center neighborhood in River Edge 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 98.4% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America'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 Cherry Hill / Borough Center neighborhood, 69.1% 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 13.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (12.2%), and 4.9% 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 Cherry Hill / Borough Center neighborhood is English, spoken by 69.7% of households. Other important languages spoken here include Korean, Chinese, Polish and Langs. of India.

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 Cherry Hill / Borough Center neighborhood in River Edge, NJ, residents most commonly identify their ethnicity or ancestry as Asian (25.0%). There are also a number of people of Italian ancestry (22.9%), and residents who report Irish roots (19.2%), and some of the residents are also of German ancestry (8.3%), along with some Eastern European ancestry residents (4.0%), among others. In addition, 24.5% of the residents of this neighborhood were born in another country.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Cherry Hill / Borough Center neighborhood spend between 15 and 30 minutes commuting one-way to work (34.6% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (63.2%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (6.7%) and 5.5% of residents also ride the bus 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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