Hope Ave / Monroe St median real estate price is $452,426, which is more expensive than 38.9% of the neighborhoods in New Jersey and 63.7% of the neighborhoods in the U.S.
The average rental price in Hope Ave / Monroe St is currently $2,637, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 71.8% of New Jersey neighborhoods.
Hope Ave / Monroe St is a densely urban neighborhood (based on population density) located in Passaic, New Jersey.
Hope Ave / Monroe St real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the Hope Ave / Monroe St 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.
In Hope Ave / Monroe St, the current vacancy rate is 1.7%, which is a lower rate of vacancies than 88.1% of all neighborhoods in the U.S. This means that the housing supply in Hope Ave / Monroe St is very tight compared to the demand for property here.
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.
Real Estate
The Hope Ave / Monroe St neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 43,291 persons per square mile in the neighborhood, it is more packed with people than 98.1% of the nation's neighborhoods. 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 Hope Ave / Monroe St neighborhood is among the top 5% of American neighborhoods in terms of walkability.
In addition, three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The Hope Ave / Monroe St neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 52.6% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 98.7% of America's neighborhoods.
Furthermore, renter-occupied real estate is dominant in the Hope Ave / Monroe St neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 91.6%, which is higher than 97.2% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.
Also of note, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The Hope Ave / Monroe St neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 68.0% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 98.2% of the neighborhoods in the United States.
People
Whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the Hope Ave / Monroe St neighborhood has more single mother households than 99.0% of the neighborhoods in the U.S. Often high concentrations of single mother homes can be a strong indicator of family and social issues such as poverty, high rates of school dropouts, crime, and other societal problems.
In addition, neighborhoodScout's exclusive research revealed that 96.1% of the adult residents in the Hope Ave / Monroe St neighborhood do not have a 4-year college degree, which is a lower rate of college graduated adults than found in 97.9% of the neighborhoods in America.
Modes of Transportation
In the Hope Ave / Monroe St neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 24.3% of residents here. This is a higher proportion of walking commuters than we found in 98.7% of American neighborhoods. Get ready to put on your walking shoes if you move here!
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 Hope Ave / Monroe St neighborhood has a highly unusual pattern of car ownership. 31.6% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.3% of U.S. neighborhoods.
Occupations
More people work in manufacturing and as laborers here in the Hope Ave / Monroe St neighborhood than in 97.1% of the neighborhoods in America. Despite the loss of manufacturing jobs across the nation, this neighborhood remains a place where, compared to other parts of the country, you will find many laborers and manufacturers.
Diversity
Did you know that the Hope Ave / Monroe St neighborhood has more Dominican and Mexican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 17.0% of this neighborhood's residents have Dominican ancestry and 60.9% have Mexican ancestry.
Hope Ave / Monroe St is also pretty special linguistically. Significantly, 93.9% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 99.8% of all U.S. neighborhoods.
Migration / Stability
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Hope Ave / Monroe St neighborhood. What is interesting to note, is that the Hope Ave / Monroe St neighborhood has a greater percentage of residents born in another country (50.1%) than are found in 97.7% of all U.S. neighborhoods.
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 Hope Ave / Monroe St neighborhood in Passaic are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 76.6% of U.S. neighborhoods. With 45.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 92.0% 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 Hope Ave / Monroe St neighborhood, 44.8% of the working population is employed in manufacturing and laborer 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 29.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (15.4%), and 9.9% in executive, management, and professional occupations.
Languages
The most common language spoken in the Hope Ave / Monroe St neighborhood is Spanish, spoken by 93.9% of households. Some people also speak English (4.9%).
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 Hope Ave / Monroe St neighborhood in Passaic, NJ, residents most commonly identify their ethnicity or ancestry as Mexican (60.9%). There are also a number of people of Dominican ancestry (17.0%), and residents who report Puerto Rican roots (7.0%), and some of the residents are also of South American ancestry (4.6%). In addition, 50.1% of the residents of this neighborhood were born in another country.
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 Hope Ave / Monroe St neighborhood spend between 15 and 30 minutes commuting one-way to work (39.4% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (39.9%) 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 (24.3%) and 21.4% 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.
