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Real Estate Prices & Overview

The Commons at Bay Street median real estate price is $741,196, which is more expensive than 76.9% of the neighborhoods in New Jersey and 83.2% of the neighborhoods in the U.S.

The average rental price in The Commons at Bay Street is currently $3,944, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 81.9% of the neighborhoods in New Jersey.

The Commons at Bay Street is a densely urban neighborhood (based on population density) located in Montclair, New Jersey.

The Commons at Bay Street 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 small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the The Commons at Bay Street neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 2000 and the present.

In The Commons at Bay Street, the current vacancy rate is 1.0%, which is a lower rate of vacancies than 91.4% of all neighborhoods in the U.S. This means that the housing supply in The Commons at Bay Street 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 Montclair, the The Commons at Bay Street 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 the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 14.3% of the The Commons at Bay Street 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.

Real Estate

Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The The Commons at Bay Street neighborhood is among the top 5% of American neighborhoods in terms of walkability.

People

If you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the The Commons at Bay Street neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 95.3% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the The Commons at Bay Street neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for young, single professionals.

Diversity

Significantly, 1.9% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 98.5% 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 Commons at Bay Street neighborhood in Montclair are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 80.3% of the neighborhoods in America. With 22.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 72.7% 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 Commons at Bay Street neighborhood, 66.2% 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 18.7% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (11.7%), and 3.5% 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 The Commons at Bay Street neighborhood is English, spoken by 79.6% of households. Other important languages spoken here include Spanish 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 Commons at Bay Street neighborhood in Montclair, NJ, residents most commonly identify their ethnicity or ancestry as Irish (16.3%). There are also a number of people of Italian ancestry (16.2%), and residents who report English roots (7.5%), and some of the residents are also of Asian ancestry (7.3%), along with some German ancestry residents (6.9%), among others. In addition, 16.0% 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 Commons at Bay Street neighborhood spend between 15 and 30 minutes commuting one-way to work (36.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (54.5%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (14.3%) . 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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