Merion Park median real estate price is $722,730, which is more expensive than 82.1% of the neighborhoods in New Jersey and 86.1% of the neighborhoods in the U.S.
The average rental price in Merion Park is currently $4,161, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 89.6% of the neighborhoods in New Jersey.
Merion Park is a suburban neighborhood (based on population density) located in Ocean City, New Jersey. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Merion Park real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) townhomes and single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Merion Park neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.
Vacant apartments or homes are a major fact of life in Merion Park. The current real estate vacancy rate here is 79.1%. This is higher than the rate of vacancies in 99.9% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (70.7%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.
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 Ocean City, the Merion Park neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Do you like a coastal setting? If so, this neighborhood may be to your liking. The Merion Park neighborhood is on the ocean, a bay, or inlet. Often such coastal places have amenities and recreational activities on the waterfront that are attractive to residents and visitors alike. In addition to being coastal, Merion Park is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.
In addition, vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 79.1% of the residential real estate vacant, the Merion Park neighborhood claims the distinction of having a higher vacancy rate than 99.9% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.
Furthermore, many people dream of living along a street lined with row houses or other attached homes. Such places do often have an abundance of charm. If you are one of these people, the Merion Park neighborhood could be your paradise. With 57.8% of the homes and real estate here classified as rowhouses or other attached homes, this neighborhood brims with opportunity to find the right place for you. Only 0.8% of U.S. neighborhoods have more row houses than this neighborhood, making it one of the most interesting things about this special neighborhood.
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 3.0% of America's neighborhoods are wealthier than the Merion Park 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, Merion Park also has one of the lowest ratings of child poverty in the nation.
In addition, a majority of the adults in the Merion Park neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for New Jersey by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 99.9% of the neighborhoods in New Jersey. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for urban sophisticates and active retirees.
Also, 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 Merion Park neighborhood, where 36.6% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.1% 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 96.0% of the neighborhoods in America.
Did you know that the Merion Park neighborhood has more Irish and Italian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 40.5% of this neighborhood's residents have Irish ancestry and 34.8% have Italian ancestry.
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 Merion Park neighborhood in Ocean City 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 97.0% 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 Merion Park neighborhood, 59.3% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 20.6% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (14.1%), and 6.0% in clerical, assistant, and tech support occupations.
The most common language spoken in the Merion Park neighborhood is English, spoken by 94.4% of households. Some people also speak Polish (3.7%).
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 Merion Park neighborhood in Ocean City, NJ, residents most commonly identify their ethnicity or ancestry as Irish (40.5%). There are also a number of people of Italian ancestry (34.8%), and residents who report German roots (27.4%), and some of the residents are also of English ancestry (13.3%), along with some Polish ancestry residents (3.6%), among others.
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 Merion Park neighborhood spend between 45 minutes and one hour commuting one-way to work (40.8% of working residents), longer and tougher than most commutes in America.
Here most residents (80.0%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (8.9%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.