Real Estate Prices and Overview
East River median real estate prices are $385,465, which is more expensive than 84.4% of the neighborhoods
in Connecticut and 86.3% of the
neighborhoods in the U.S.
Average rental prices in East River are currently
$1,085, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 68.9%
of the neighborhoods in Connecticut.
East River is a suburban neighborhood (based on population
density) located in Madison, Connecticut.
East River real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments.
Most of the residential real estate is owner occupied. Many of
the residences in the East River neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
Real estate vacancies in East River are 5.2%,
which is lower than one will find in 75.0% of American
neighborhoods. Demand for real estate in East River
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
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 Madison,
the East River neighborhood, has some outstanding things about the way it
looks and its way of life that are worth highlighting.
Notable & Unique: Diversity
Did you know that the East River neighborhood has more
Croatian and Irish ancestry people living in it than nearly
any neighborhood in America? It's true! In fact, 1.0% of
this neighborhood's residents have Croatian ancestry and 20.1% have Irish ancestry.
Notable & Unique: 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 4.1% of America's neighborhoods are wealthier than the
East River 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.
In addition, according to NeighborhoodScout's exclusive analysis, East River
is among the best neighborhoods for families in Connecticut. In fact, this neighborhood is
more family-friendly than 95.4% of neighborhoods
in the entire state of Connecticut. Its combination of top public
schools, low crime rates, and owner-occupied single family homes gives
this area the look and feel of a "Leave It to Beaver" episode. Many other
families also live here, making it easy to socialize and develop a strong
sense of community. In addition, the high number of college-educated parents
influences the academic success of the local schools. Overall, you will
find all of the amenities a family needs to thrive in the
East River neighborhood.
In addition to being an excellent choice for families with school-aged children, this
neighborhood is also a very good choice for urban sophisticates and highly educated executives.
Notable & Unique: Real Estate
In addition, one way that the East River neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 96.3% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.
The Neighbors: Income
There are two complimentary 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 East River neighborhood in Madison 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 95.9% of the neighborhoods in America.
In addition, 4.0% 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 78.6%
of America's neighborhoods.
The Neighbors: Occupations
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 shear diversity of neighborhoods, allowing you to find the type that fits
your lifestyle and aspirations.
In the East River neighborhood, 51.4%
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 28.7% of the residents employed.
Other residents here are employed in manufacturing and laborer occupations
(10.7%), and 9.3% in clerical, assistant, and tech support occupations.
The Neighbors: 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 East River neighborhood in Madison, CT, residents
most commonly identify their ethnicity or ancestry as Irish
(20.1%). There are also a number of people of Italian ancestry (19.1%) , and residents who report German roots (11.4%) , and some of the residents are also of English ancestry (9.4%) , along with some Polish ancestry residents (5.0%), among others.
The Neighbors: Languages
The most common language spoken in the East River
neighborhood is English, spoken by 93.3% of households. Some people also speak Spanish (2.2%).
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 East River neighborhood spend
between 15 and 30 minutes commuting one-way to work (31.7% of working
residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (92.0%) 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 (6.3%) . In a neighborhood like this, as in most of the nation, many residents find owning
a car useful for getting to work.