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Real Estate Prices & Overview

Morsemere median real estate price is $837,790, which is more expensive than 88.1% of the neighborhoods in New Jersey and 89.6% of the neighborhoods in the U.S.

The average rental price in Morsemere is currently $3,361, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 65.8% of the neighborhoods in New Jersey.

Morsemere is a densely urban neighborhood (based on population density) located in Palisades Park, New Jersey.

Morsemere 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 occupied by a mixture of owners and renters. Many of the residences in the Morsemere neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 and the present.

Real estate vacancies in Morsemere are 3.4%, which is lower than one will find in 79.1% of American neighborhoods. Demand for real estate in Morsemere 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

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

Modes of Transportation

Our research revealed that more commuters here take the bus to work (20.7% ride the bus) than 98.5% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.

Car Ownership

We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Morsemere neighborhood has a highly unusual pattern of car ownership. 24.0% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 96.2% of U.S. neighborhoods.

People

One of the really interesting characteristics about the Morsemere neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 4.5% of college-friendly places to live in the state of New Jersey.

Real Estate

If you love row houses and attached homes, you will probably really like the Morsemere neighborhood. The ambiance, the charm, of row houses is something special. And in sheer abundance of row houses, this neighborhood truly stands out. The real estate here has a higher proportion of row houses and attached homes than nearly any neighborhood in America. In fact, 23.5% of the residential real estate here is classified as row houses and attached homes.

Diversity

Did you know that the Morsemere neighborhood has more Asian and Czechoslovakian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 56.9% of this neighborhood's residents have Asian ancestry and 0.6% have Czechoslovakian ancestry.

Morsemere is also pretty special linguistically. Significantly, 48.2% of its residents five years old and above primarily speak Korean at home. This is a higher percentage than 100.0% of all U.S. neighborhoods.

Migration / Stability

The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. What is interesting to note, is that the Morsemere neighborhood has a greater percentage of residents born in another country (60.1%) than are found in 99.2% of all U.S. neighborhoods.

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 Morsemere neighborhood in Palisades Park are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 58.4% of the neighborhoods in America. In addition, 5.1% 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 65.0% 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 Morsemere neighborhood, 33.0% 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 32.3% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (17.7%), and 17.0% 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 Morsemere neighborhood is Korean, spoken by 48.2% of households. Other important languages spoken here include Spanish, English and Chinese.

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 Morsemere neighborhood in Palisades Park, NJ, residents most commonly identify their ethnicity or ancestry as Asian (56.9%). There are also a number of people of French ancestry (4.4%), and residents who report Puerto Rican roots (4.0%), and some of the residents are also of Italian ancestry (3.9%), along with some Dutch ancestry residents (3.9%), among others. In addition, 60.1% 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 Morsemere neighborhood spend between 15 and 30 minutes commuting one-way to work (32.1% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (53.0%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (20.7%) and 13.4% of residents also carpool with coworkers, friends, or neighbors 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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