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Real Estate Prices & Overview

Morris St / Lafayette Ave median real estate price is $877,348, which is more expensive than 81.1% of the neighborhoods in New Jersey and 86.6% of the neighborhoods in the U.S.

The average rental price in Morris St / Lafayette Ave is currently $4,612, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 91.2% of the neighborhoods in New Jersey.

Morris St / Lafayette Ave is an urban neighborhood (based on population density) located in Morristown, New Jersey.

Morris St / Lafayette Ave 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 renter occupied. Many of the residences in the Morris St / Lafayette Ave neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 and the present.

Home and apartment vacancy rates are 7.1% in Morris St / Lafayette Ave. NeighborhoodScout analysis shows that this rate is lower than 53.4% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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 Morristown, the Morris St / Lafayette Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

Of note is NeighborhoodScout's research finding that the Morris St / Lafayette Ave neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Morris St / Lafayette Ave community truly stands out from the rest in this regard.

In addition, 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 Morris St / Lafayette Ave neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 95.2% 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 Morris St / Lafayette Ave neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for young, single professionals.

Diversity

Did you know that the Morris St / Lafayette Ave neighborhood has more Austrian and Croatian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.8% of this neighborhood's residents have Austrian ancestry and 1.4% have Croatian ancestry.

Morris St / Lafayette Ave is also pretty special linguistically. Significantly, 2.0% of its residents five years old and above primarily speak Urdu, which is the national language of Pakistan, at home. While this may seem like a small percentage, it is higher than 98.8% of the neighborhoods in America.

The Neighbors

There are two complementary 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 Morris St / Lafayette Ave neighborhood in Morristown 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 88.4% 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.

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 Morris St / Lafayette Ave neighborhood, 61.5% 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 19.2% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (10.8%), and 8.5% 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 Morris St / Lafayette Ave neighborhood is English, spoken by 78.3% of households. Other important languages spoken here include Spanish and Langs. of India.

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 Morris St / Lafayette Ave neighborhood in Morristown, NJ, residents most commonly identify their ethnicity or ancestry as German (24.2%). There are also a number of people of Irish ancestry (20.3%), and residents who report Italian roots (18.4%), and some of the residents are also of English ancestry (10.9%), along with some Spanish ancestry residents (9.8%), among others. In addition, 13.4% of the residents of this neighborhood were born in another country.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Morris St / Lafayette Ave neighborhood spend under 15 minutes commuting one-way to work (41.0% of working residents), one of the shortest commutes across America.

Here most residents (76.8%) drive alone in a private automobile to get to work. 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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