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Real Estate Prices & Overview

Manchester / Valley Terrace median real estate price is $223,054, which is less expensive than 94.5% of New Jersey neighborhoods and 72.5% of all U.S. neighborhoods.

The average rental price in Manchester / Valley Terrace is currently $3,439, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 68.6% of the neighborhoods in New Jersey.

Manchester / Valley Terrace is a densely urban neighborhood (based on population density) located in Wayne, New Jersey.

Manchester / Valley Terrace real estate is primarily made up of small (studio to two bedroom) to large (four, five or more 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 Manchester / Valley Terrace neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Real estate vacancies in Manchester / Valley Terrace are 4.7%, which is lower than one will find in 68.8% of American neighborhoods. Demand for real estate in Manchester / Valley Terrace 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.

Real Estate

The Manchester / Valley Terrace 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 95.3% 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.

Diversity

Did you know that the Manchester / Valley Terrace neighborhood has more Arab and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.2% of this neighborhood's residents have Arab ancestry and 2.6% have Eastern European ancestry.

Manchester / Valley Terrace is also pretty special linguistically. Significantly, 13.2% of its residents five years old and above primarily speak Langs. of India at home. While this may seem like a small percentage, it is higher than 99.6% 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 Manchester / Valley Terrace neighborhood in Wayne are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 71.6% of the neighborhoods in America. In addition, 2.0% 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 75.0% 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 Manchester / Valley Terrace neighborhood, 61.9% 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 20.3% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (9.2%), and 8.7% 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 Manchester / Valley Terrace neighborhood is English, spoken by 54.2% of households. Other important languages spoken here include Spanish, Langs. of India and Arabic.

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 Manchester / Valley Terrace neighborhood in Wayne, NJ, residents most commonly identify their ethnicity or ancestry as Asian (23.7%). There are also a number of people of Italian ancestry (11.9%), and residents who report South American roots (8.7%), and some of the residents are also of Arab ancestry (6.2%), along with some Puerto Rican ancestry residents (4.0%), among others. In addition, 28.5% 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 Manchester / Valley Terrace neighborhood spend between 15 and 30 minutes commuting one-way to work (37.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (80.8%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (8.1%) and 5.6% 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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