Monastery Pl / New York Ave median real estate price is $858,259, which is more expensive than 87.5% of the neighborhoods in New Jersey and 89.0% of the neighborhoods in the U.S.
The average rental price in Monastery Pl / New York Ave is currently $2,397, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 81.8% of New Jersey neighborhoods.
Monastery Pl / New York Ave is a densely urban neighborhood (based on population density) located in Union City, New Jersey.
Monastery Pl / New York 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 small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Monastery Pl / New York Ave neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.
Real estate vacancies in Monastery Pl / New York Ave are 4.1%, which is lower than one will find in 73.1% of American neighborhoods. Demand for real estate in Monastery Pl / New York Ave 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.
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 Union City, the Monastery Pl / New York Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
What you'll find when you visit or move to this neighborhood is one of the most crowded neighborhoods in all of America. With an incredible 66,605 people per square mile, it is more densely populated than 99.1% of America's neighborhoods. Being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the Monastery Pl / New York Ave neighborhood is one of the most walkable neighborhoods in America.
In addition, corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the Monastery Pl / New York Ave neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 36.0% of the real estate here is made up of such dwellings, which is higher than 96.2% of all U.S. neighborhoods.
Furthermore, the Monastery Pl / New York Ave neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 84.7% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
Also of note, renter-occupied real estate is dominant in the Monastery Pl / New York Ave neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 84.7%, which is higher than 95.3% 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.
Modes of Transportation
More people ride the bus in this neighborhood each day to get to work than 99.1% of U.S. neighborhoods.
Also, more people in Monastery Pl / New York Ave choose to walk to work each day (16.7%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Finally, would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the Monastery Pl / New York Ave neighborhood is a fantastic option for bicycle commuters, as 3.8% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 97.1% of the neighborhoods in America.
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 Monastery Pl / New York Ave neighborhood has a highly unusual pattern of car ownership. 27.7% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 96.8% of U.S. neighborhoods.
People
Single parenting is hard. But you don't have to tell the Monastery Pl / New York Ave neighborhood about it; they already know. 17.4% of this neighborhood's households are run by single mothers, which is a higher concentration than NeighborhoodScout found in 95.1% of American neighborhoods. Further NeighborhoodScout research showed strong statistical correlations among high rates of children living in single parent households, and neighborhood crime, particularly violent crime, neighborhood poverty, and, importantly, the percentage of low weight births and rates of infant mortality.
Diversity
Did you know that the Monastery Pl / New York Ave neighborhood has more South American and Dominican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 22.9% of this neighborhood's residents have South American ancestry and 16.7% have Dominican ancestry.
Monastery Pl / New York Ave is also pretty special linguistically. Significantly, 70.3% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 97.4% 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 Monastery Pl / New York Ave neighborhood has a greater percentage of residents born in another country (52.7%) than are found in 98.2% 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 Monastery Pl / New York Ave neighborhood in Union City are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 77.6% of U.S. neighborhoods. With 14.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 58.9% of U.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 Monastery Pl / New York Ave neighborhood, 36.6% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 30.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (18.8%), and 14.7% in executive, management, and professional occupations.
Languages
The most common language spoken in the Monastery Pl / New York Ave neighborhood is Spanish, spoken by 70.3% of households. Some people also speak English (23.4%).
Ethnicity / Ancestry
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the Monastery Pl / New York Ave neighborhood in Union City, NJ, residents most commonly identify their ethnicity or ancestry as South American (22.9%). There are also a number of people of Dominican ancestry (16.7%), and residents who report Puerto Rican roots (12.9%), and some of the residents are also of Italian ancestry (5.3%), along with some Cuban ancestry residents (4.4%), among others. In addition, 52.7% of the residents of this neighborhood were born in another country.
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 Monastery Pl / New York Ave neighborhood spend between 30 and 45 minutes commuting one-way to work (33.6% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (32.8%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (22.8%) and 18.0% 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.
