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Real Estate Prices & Overview

Forest Hill median real estate price is $356,007, which is less expensive than 83.1% of New Jersey neighborhoods and 55.1% of all U.S. neighborhoods.

The average rental price in Forest Hill is currently $2,110, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 91.6% of New Jersey neighborhoods.

Forest Hill is a densely urban neighborhood (based on population density) located in Newark, New Jersey.

Forest Hill 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 Forest Hill neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

In Forest Hill, the current vacancy rate is 2.4%, which is a lower rate of vacancies than 82.9% of all neighborhoods in the U.S. This means that the housing supply in Forest Hill 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.

Occupations

From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the Forest Hill neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 97.2% of all American neighborhoods.

Modes of Transportation

In the Forest Hill neighborhood, carpooling is still a popular way to get to and from work. NeighborhoodScout's analysis reveals that 25.2% of commuters carpool here, which is more than in 97.1% of all U.S. neighborhoods.

Real Estate

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 Forest Hill 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 34.4% of the real estate here is made up of such dwellings, which is higher than 95.9% of all U.S. neighborhoods.

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 Forest Hill neighborhood is among the top 5% of American neighborhoods in terms of walkability.

Car Ownership

American households most often have a car, and regularly they have two or three. But households in the Forest Hill neighborhood buck this trend. 21.7% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 95.6% of U.S. neighborhoods.

Diversity

Did you know that the Forest Hill neighborhood has more Puerto Rican and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 28.1% of this neighborhood's residents have Puerto Rican ancestry and 9.7% have South American ancestry.

Forest Hill is also pretty special linguistically. Significantly, 63.9% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 96.5% of all U.S. neighborhoods.

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 Forest Hill neighborhood in Newark are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 81.0% of U.S. neighborhoods. With 11.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 53.9% 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 Forest Hill neighborhood, 40.6% 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 executive, management, and professional occupations, with 24.5% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (22.9%), and 12.0% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Forest Hill neighborhood is Spanish, spoken by 63.9% of households. Some people also speak English (27.0%).

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 Forest Hill neighborhood in Newark, NJ, residents most commonly identify their ethnicity or ancestry as Puerto Rican (28.1%). There are also a number of people of South American ancestry (9.7%), and residents who report Mexican roots (6.2%), and some of the residents are also of Dominican ancestry (6.1%), along with some Cuban ancestry residents (3.6%), among others. In addition, 35.3% of the residents of this neighborhood were born in another country.

Getting to Work

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 Forest Hill neighborhood spend under 15 minutes commuting one-way to work (32.1% of working residents), one of the shortest commutes across America.

Here most residents (51.2%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (25.2%) and 7.9% of residents also take the train 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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