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Real Estate Prices & Overview

Morrell Corners median real estate price is $1,062,065, which is more expensive than 95.1% of the neighborhoods in New Jersey and 94.3% of the neighborhoods in the U.S.

The average rental price in Morrell Corners is currently $6,950, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 99.3% of the neighborhoods in New Jersey.

Morrell Corners is a suburban neighborhood (based on population density) located in Holmdel, New Jersey.

Morrell Corners 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 Morrell Corners 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 Morrell Corners, the current vacancy rate is 1.3%, which is a lower rate of vacancies than 90.8% of all neighborhoods in the U.S. This means that the housing supply in Morrell Corners 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 Holmdel, the Morrell Corners neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Modes of Transportation

If you like to ride a ferry to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 2.1% of the Morrell Corners neighborhood's commuters ride a ferry to and from work each day, which is more than we found in 99.6% of America's neighborhoods.

Real Estate

One way that the Morrell Corners neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 97.2% 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.

Length of Commute

Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the Morrell Corners neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 11.8% 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 97.0% of all neighborhoods in America.

People

Wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Morrell Corners neighborhood is wealthier than 95.2% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood.

Diversity

Did you know that the Morrell Corners neighborhood has more Italian and Ukrainian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 30.4% of this neighborhood's residents have Italian ancestry and 2.9% have Ukrainian ancestry.

Morrell Corners is also pretty special linguistically. Significantly, 4.3% 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 96.6% 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 Morrell Corners neighborhood in Holmdel 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 95.2% of the neighborhoods in America. In addition, 3.3% 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 70.9% of America'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 Morrell Corners neighborhood, 55.2% 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 29.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (8.3%), and 7.2% 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 Morrell Corners neighborhood is English, spoken by 77.4% of households. Other important languages spoken here include Chinese, Langs. of India and Arabic.

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 Morrell Corners neighborhood in Holmdel, NJ, residents most commonly identify their ethnicity or ancestry as Italian (30.4%). There are also a number of people of Asian ancestry (16.1%), and residents who report Irish roots (10.2%), and some of the residents are also of German ancestry (7.4%), along with some Polish ancestry residents (5.9%), among others. In addition, 23.2% 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 Morrell Corners neighborhood spend between 15 and 30 minutes commuting one-way to work (31.0% 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 (11.8%) who commute over an hour in each direction.

Here most residents (62.7%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (8.6%) and 6.0% 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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