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.
The Palisades / Horizon House median real estate price is $574,993, which is more expensive than 49.2% of the neighborhoods in New Jersey and 62.5% of the neighborhoods in the U.S.
The average rental price in The Palisades / Horizon House is currently $4,856, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 92.8% of the neighborhoods in New Jersey.
The Palisades / Horizon House is a densely urban neighborhood (based on population density) located in Fort Lee, New Jersey.
The Palisades / Horizon House 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 owner occupied. Many of the residences in the The Palisades / Horizon House neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
In The Palisades / Horizon House, the current vacancy rate is 1.6%, which is a lower rate of vacancies than 88.0% of all neighborhoods in the U.S. This means that the housing supply in The Palisades / Horizon House is very tight compared to the demand for property here.
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 The Palisades / Horizon House neighborhood, 3.5% of people ride a ferry to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of ferry ridership than in 99.7% of the neighborhoods in America.
Also, our research revealed that more commuters here take the bus to work (10.4% ride the bus) than 95.3% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.
People
If knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the The Palisades / Horizon House neighborhood, where 45.0% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.7% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 98.3% of the neighborhoods in America.
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 The Palisades / Horizon House neighborhood: a neighborhood in which more "urban sophisticates" live than 97.8% 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 active retirees.
Real Estate
One of the really unique and interesting things about the look and setting of the The Palisades / Horizon House neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 82.1% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 97.0% of all neighborhoods in America.
In addition, if you like crowded places, then you will probably enjoy the the The Palisades / Horizon House neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 95.6% of neighborhoods in the U.S., with 23,101 people per square mile living here.
Diversity
Did you know that the The Palisades / Horizon House neighborhood has more Russian and Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 10.8% of this neighborhood's residents have Russian ancestry and 5.0% have Greek ancestry.
The Palisades / Horizon House is also pretty special linguistically. Significantly, 12.8% 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 99.8% of the neighborhoods in America.
The Neighbors
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the The Palisades / Horizon House neighborhood in Fort Lee 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 87.2% of the neighborhoods in America. With 20.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 70.1% of U.S. neighborhoods.
The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.
In the The Palisades / Horizon House neighborhood, 61.9% 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 14.3% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (14.0%), and 9.7% in clerical, assistant, and tech support 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 The Palisades / Horizon House neighborhood is English, spoken by 51.9% of households. Other important languages spoken here include Korean, Chinese, Japanese and Polish.
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 The Palisades / Horizon House neighborhood in Fort Lee, NJ, residents most commonly identify their ethnicity or ancestry as Asian (35.9%). There are also a number of people of Russian ancestry (10.8%), and residents who report Italian roots (8.7%), and some of the residents are also of Polish ancestry (8.0%), along with some Greek ancestry residents (5.0%), among others. In addition, 36.7% 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 The Palisades / Horizon House neighborhood spend between 45 minutes and one hour commuting one-way to work (31.7% of working residents), longer and tougher than most commutes in America.
Here most residents (45.6%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (10.4%) and 8.1% of residents also take the train 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.
