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Real Estate Prices & Overview

The Commons at Bay Street median real estate price is $909,056, which is more expensive than 83.3% of the neighborhoods in New Jersey and 88.1% of the neighborhoods in the U.S.

The average rental price in The Commons at Bay Street is currently $3,989, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 80.4% of the neighborhoods in New Jersey.

The Commons at Bay Street is a densely urban neighborhood (based on population density) located in Montclair, New Jersey.

The Commons at Bay Street 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 The Commons at Bay Street 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 2000 and the present.

In The Commons at Bay Street, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in The Commons at Bay Street is very tight compared to the demand for property here.

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

With a real estate vacancy rate of only 0.0%, the The Commons at Bay Street neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.

In addition, 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 The Commons at Bay Street neighborhood is among the top 5% of American neighborhoods in terms of walkability.

Modes of Transportation

In the The Commons at Bay Street neighborhood, 23.5% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 97.7% of the neighborhoods in America.

Occupations

Executives, managers and professionals make up 71.0% of the workforce in the The Commons at Bay Street neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 95.6% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

Diversity

Did you know that the The Commons at Bay Street neighborhood has more South American and Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.2% of this neighborhood's residents have South American ancestry and 0.6% have Armenian ancestry.

The Commons at Bay Street is also pretty special linguistically. Significantly, 1.9% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 98.5% 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 The Commons at Bay Street neighborhood in Montclair are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 74.6% of the neighborhoods in America. With 26.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 78.1% of U.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 The Commons at Bay Street neighborhood, 71.0% 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 15.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (10.2%), and 3.3% 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 The Commons at Bay Street neighborhood is English, spoken by 82.9% of households. Other important languages spoken here include Spanish and Polish.

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 The Commons at Bay Street neighborhood in Montclair, NJ, residents most commonly identify their ethnicity or ancestry as Irish (14.6%). There are also a number of people of Italian ancestry (10.4%), and residents who report English roots (7.1%), and some of the residents are also of Asian ancestry (6.7%), along with some South American ancestry residents (6.2%), among others. In addition, 14.7% 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 The Commons at Bay Street neighborhood spend between 45 minutes and one hour commuting one-way to work (32.4% of working residents), longer and tougher than most commutes in America.

Here most residents (47.1%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (23.5%) . 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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