This is a small community in a single neighborhood.
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What do we mean by a neighborhood?
NeighborhoodScout® uses the official government designation for neighborhoods - the census tract.
Census tracts are small, relatively permanent subdivisions of a county that are defined by the U.S. Census Bureau in conjunction with local authorities all across the country to define real neighborhoods that are bounded to contain areas with homogeneous population characteristics (including economic status, lifestyle, and living conditions). Census tracts usually have 4,000 persons, but can range between 1,500 and 8,000 persons. This is the most fine-grained area for which detailed information is made available from the government, to protect the individual privacy of each of us. Because census tracts are based on population, they vary in size depending on the density of settlement. In urban areas, they are small, and in rural areas they can cover an entire small town or even a few small towns in very rural areas.
Since census tracts are subdivisions of a county, we did a spatial overlay of the census tracts onto city and town boundaries using a geographic information system to properly assign each census tract to its appropriate city or town. Then we named each census tract to the local colloquially recognized neighborhood name for that spot (e.g., Boston, MA (Dorchester). If there was not a name available, we named the census tract by the largest street intersection in the census tract (e.g., Worcester, MA (Lincoln St/Plantation St)
Why we don't use Zip Codes as neighborhoods
Zip codes were developed by the Postal Service for the purpose of delivering mail, but were never intended to define coherent neighborhoods. In addition, Zip Codes can have as many as 10 distinctly different census tracts contained within them. When distinct census tracts are blended together in a single Zip Code, the data reflects their average conditions and often gives a false sense of the area. The result is that potentially great matching neighborhoods can be missed, and erroneous matches can also be produced and delivered to you.
Using census tracts makes great matches possible, and helps people find the areas that are best for them and their families. Because we are committed to providing the highest possible quality and finding the neighborhoods that best meet your criteria, we use census tracts. And, as always, we show you the actual street map of the neighborhood so you know exactly where your best matching neighborhood is located.
What is a Condition Alert?
A condition alert is a condition in the neighborhood that triggers an alert. NeighborhoodScout contains condition alerts to highlight conditions that are extreme, whether good or bad. This helps answer crucial questions about the state of the neighborhood being evaluated, such as:
What are the risks of violent crime here?
Is the risk of home break-ins or other property crimes increasing?
Does real estate here hold its value?
Are the trends in local vacancies or unemployment concerning?
...and dozens more.
Information at a glance that you need to know to invest, appraise or finance a property.
Peapack and Gladstone is a very small borough located in the state of New Jersey. With a population of 2,547 people and just one neighborhood, Peapack and Gladstone is the 399th largest community in New Jersey.
Peapack and Gladstone home prices are not only among the most expensive in New Jersey, but Peapack and Gladstone real estate also consistently ranks among the most expensive in America.
Occupations and Workforce
Peapack and Gladstone is a decidedly white-collar borough, with fully 90.21% of the workforce employed in white-collar jobs, well above the national average. Overall, Peapack and Gladstone is a borough of managers, professionals, and sales and office workers. There are especially a lot of people living in Peapack and Gladstone who work in management occupations (19.92%), sales jobs (15.72%), and business and financial occupations (11.60%).
Of important note, Peapack and Gladstone is also a borough of artists. Peapack and Gladstone has more artists, designers and people working in media than 90% of the communities in America. This concentration of artists helps shape Peapack and Gladstone’s character.
Also of interest is that Peapack and Gladstone has more people living here who work in computers and math than 95% of the places in the US.
A relatively large number of people in Peapack and Gladstone telecommute to their jobs. Overall, about 16.24% of the workforce works from home. While this may seem like a small number, as a fraction of the total workforce it ranks among the highest in the country. These workers are often telecommuters who work in knowledge-based, white-collar professions. For example, Silicon Valley has large numbers of people who telecommute. Other at-home workers may be self-employed people who operate small businesses out of their homes.
Setting & Lifestyle
Because of many things, Peapack and Gladstone is a great place for families with children to consider. First of all, many other families with children live here, making Peapack and Gladstone a place where both parents and children are more likely to develop social ties with other families, as well as find family-oriented services and community. The borough’s good public school district and large population of college-educated adults provide an environment conducive to academic values. With regard to real estate, Peapack and Gladstone has a high rate of owner-occupied single family homes, which tends to reflect stability in the local community. Finally, Peapack and Gladstone’s overall crime rate is lower than average for the country.
Demographics
Do you have a 4-year college degree or graduate degree? If so, you may feel right at home in Peapack and Gladstone. 64.74% of adults here have a 4-year degree or graduate degree, whereas the national average for all cities and towns is just 21.84%.
The per capita income in Peapack and Gladstone in 2018 was $103,719, which is wealthy relative to New Jersey and the nation. This equates to an annual income of $414,876 for a family of four.
Peapack and Gladstone is a very ethnically-diverse borough. The people who call Peapack and Gladstone home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Peapack and Gladstone residents report their race to be White, followed by Asian. Peapack and Gladstone also has a sizeable Hispanic population (people of Hispanic origin can be of any race). People of Hispanic or Latino origin account for 10.07% of the borough’s residents. Important ancestries of people in Peapack and Gladstone include German, Irish, English, Italian, and Dutch.
Foreign born people are also an important part of Peapack and Gladstone's cultural character, accounting for 18.12% of the borough’s population.
The most common language spoken in Peapack and Gladstone is English. Other important languages spoken here include Spanish and Polish.
Notable & Unique Neighborhood Characteristics
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
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 2.5% of America's neighborhoods are wealthier than the 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, also has one of the lowest ratings of child poverty in the nation.
Modes of Transportation
In the 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 12.1% of residents here. This is a higher proportion of walking commuters than we found in 96.0% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Real Estate
One way that the neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 95.1% 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.
Diversity
Did you know that the neighborhood has more Dutch and Swiss ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.2% of this neighborhood's residents have Dutch ancestry and 2.0% have Swiss ancestry.
is also pretty special linguistically. Significantly, 1.7% of its residents five years old and above primarily speak Portuguese at home. While this may seem like a small percentage, it is higher than 97.0% of the neighborhoods in America.
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 neighborhood in Peapack and Gladstone 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 97.5% 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.
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 neighborhood, 59.4% 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 21.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.4%), and 7.3% in manufacturing and laborer 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 neighborhood is English, spoken by 84.8% of households. Other important languages spoken here include Spanish and Polish.
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 neighborhood in Peapack and Gladstone, NJ, residents most commonly identify their ethnicity or ancestry as German (16.7%). There are also a number of people of Irish ancestry (16.3%), and residents who report English roots (15.0%), and some of the residents are also of Italian ancestry (13.0%), along with some Dutch ancestry residents (7.2%), among others. In addition, 18.1% 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 neighborhood spend between 15 and 30 minutes commuting one-way to work (31.7% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (61.4%) 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 (12.1%) and 6.9% 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.
SCOUT’s patented match algorithm identifies the most similar neighborhoods to a subject location, and quantifies the similarity to the subject location. This allows analysts to identify the most similar neighborhoods in a local market area for appraisals, investments, and research.
The algorithm uses 273 neighborhood conditions, identifies the dominant dimensions underlying the conditions and calculates the similarity. This captures the true culture and character of locations, economic conditions, and trends.
The closer to 100% means the locations are nearly identical. 80% is a very good, but not excellent match, and so forth.
