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Real Estate Prices & Overview

Fairway / Montclair Upper median real estate price is $1,052,053, which is more expensive than 95.4% of the neighborhoods in New Jersey and 94.2% of the neighborhoods in the U.S.

The average rental price in Fairway / Montclair Upper is currently $5,126, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 96.4% of the neighborhoods in New Jersey.

Fairway / Montclair Upper is an urban neighborhood (based on population density) located in Montclair, New Jersey.

Fairway / Montclair Upper 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 Fairway / Montclair Upper 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 1940 and 1969.

Real estate vacancies in Fairway / Montclair Upper are 5.0%, which is lower than one will find in 68.2% of American neighborhoods. Demand for real estate in Fairway / Montclair Upper 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 Montclair, the Fairway / Montclair Upper 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 0.3% of America's neighborhoods are wealthier than the Fairway / Montclair Upper 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, Fairway / Montclair Upper 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 Fairway / Montclair Upper neighborhood: a neighborhood in which more "urban sophisticates" live than 99.9% 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 highly educated executives and families with school-aged children.

Also, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 83.8% of the adults living in the Fairway / Montclair Upper neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 98.8% of U.S. neighborhoods. In this way, this neighborhood truly stands out.

Finally, 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 Fairway / Montclair Upper neighborhood may actually hold the key. 69.5% of its residents are married, which is a higher percentage than is found in 97.4% of the neighborhoods in America.

Modes of Transportation

In the Fairway / Montclair Upper neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 34.5% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 99.4% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.

Also, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 12.8% of the Fairway / Montclair Upper neighborhood's commuters ride the train to and from work each day, which is more than we found in 95.6% of America's neighborhoods.

Finally, more people ride the bus in this neighborhood each day to get to work than 95.0% of U.S. neighborhoods.

Real Estate

Owner-occupied real estate dominates the Fairway / Montclair Upper neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 98.6% of neighborhoods in America.

In addition, one way that the Fairway / Montclair Upper neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 96.4% 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.

Occupations

The Fairway / Montclair Upper neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 97.7% of the neighborhoods in America. In fact, 74.4% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.

Diversity

Did you know that the Fairway / Montclair Upper neighborhood has more Eastern European and Brazilian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.9% of this neighborhood's residents have Eastern European ancestry and 3.5% have Brazilian ancestry.

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 Fairway / Montclair Upper neighborhood in Montclair 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 99.7% 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 Fairway / Montclair Upper neighborhood, 74.4% 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 16.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (7.5%), and 5.2% in government jobs, whether they are in local, state, or federal positions.

Languages

The most common language spoken in the Fairway / Montclair Upper neighborhood is English, spoken by 84.3% of households. Some people also speak Spanish (2.3%).

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 Fairway / Montclair Upper neighborhood in Montclair, NJ, residents most commonly identify their ethnicity or ancestry as Irish (22.1%). There are also a number of people of Italian ancestry (15.4%), and residents who report German roots (13.6%), and some of the residents are also of English ancestry (10.5%), along with some Asian ancestry residents (4.9%), among others. In addition, 10.9% 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 Fairway / Montclair Upper neighborhood spend between 45 minutes and one hour commuting one-way to work (43.0% of working residents), longer and tougher than most commutes in America.

Here most residents (37.6%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (12.8%) and 11.1% 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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