Median real estate price in the Borough Center of Paramus is $894,180, which is more expensive than 83.3% of the neighborhoods in New Jersey and 87.7% of the neighborhoods in the U.S.
The average rental price in Paramus Borough Center is currently $5,902, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 96.5% of the neighborhoods in New Jersey.
Paramus Borough Center is a suburban neighborhood (based on population density) located in Paramus, New Jersey.
Real estate in the Borough Center of Paramus, NJ is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Borough Center neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 and the present.
Home and apartment vacancy rates are 6.3% in Paramus Borough Center. NeighborhoodScout analysis shows that this rate is lower than 58.1% of the neighborhoods in the nation, approximately near the middle range for vacancies.
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.
Of note is NeighborhoodScout's research finding that the Paramus Borough Center neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Paramus Borough Center community truly stands out from the rest in this regard.
Did you know that the Paramus Borough Center neighborhood has more Russian and Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 8.9% of this neighborhood's residents have Russian ancestry and 3.7% have Iranian ancestry.
Paramus Borough Center is also pretty special linguistically. Significantly, 2.8% of its residents five years old and above primarily speak Greek at home. While this may seem like a small percentage, it is higher than 99.6% of the neighborhoods in America.
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 Borough Center neighborhood in Paramus 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 92.5% 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.
The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.
In the Paramus Borough Center neighborhood, 63.0% 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 17.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (13.6%), and 8.0% in government jobs, whether they are in local, state, or federal positions.
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 Paramus Borough Center neighborhood is English, spoken by 61.8% of households. Other important languages spoken here include Spanish, Langs. of India, Korean and Greek.
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 Borough Center neighborhood in Paramus, NJ, residents most commonly identify their ethnicity or ancestry as Asian (19.9%). There are also a number of people of Italian ancestry (18.3%), and residents who report Russian roots (8.9%), and some of the residents are also of Polish ancestry (8.8%), along with some German ancestry residents (8.0%), among others. In addition, 25.9% of the residents of this neighborhood were born in another country.
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 Paramus Borough Center neighborhood spend between 15 and 30 minutes commuting one-way to work (35.7% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (64.1%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (7.3%) and 5.1% 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.