Colonial Park median real estate price is $999,831, which is more expensive than 88.5% of the neighborhoods in New Jersey and 90.5% of the neighborhoods in the U.S.
The average rental price in Colonial Park is currently $4,990, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 92.4% of the neighborhoods in New Jersey.
Colonial Park is a suburban neighborhood (based on population density) located in Princeton Junction, New Jersey.
Colonial Park real estate 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 Colonial Park neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
In Colonial Park, the current vacancy rate is 2.7%, which is a lower rate of vacancies than 82.3% of all neighborhoods in the U.S. This means that the housing supply in Colonial Park is very tight compared to the demand for property here.
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 Princeton Junction, the Colonial Park neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 2.2% of America's neighborhoods are wealthier than the Colonial Park neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. As one would expect in a considerably wealthy neighborhood such as this, Colonial Park also has one of the lowest ratings of child poverty in the nation.
In addition, if knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Colonial Park neighborhood, where 53.8% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.4% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 99.5% of the neighborhoods in America.
Also, a majority of the adults in the Colonial Park neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for New Jersey by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 97.7% of the neighborhoods in New Jersey. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for urban sophisticates and active retirees.
Length of Commute
Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The Colonial Park neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the Colonial Park neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 18.1% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 99.3% of all neighborhoods in America.
Occupations
The Colonial Park neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.2% of the neighborhoods in America. In fact, 80.5% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Modes of Transportation
In the Colonial Park neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 35.5% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 98.9% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
Also, in the Colonial Park neighborhood, 10.5% 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 95.2% of the neighborhoods in America.
Diversity
Did you know that the Colonial Park neighborhood has more Asian and Belgian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 42.8% of this neighborhood's residents have Asian ancestry and 0.8% have Belgian ancestry.
Colonial Park is also pretty special linguistically. Significantly, 8.4% 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 98.9% 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 Colonial Park neighborhood in Princeton Junction 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 97.8% 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.
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 Colonial Park neighborhood, 80.5% 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 9.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.1%), and 3.9% in government jobs, whether they are in local, state, or federal positions.
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 Colonial Park neighborhood is English, spoken by 52.9% of households. Other important languages spoken here include Langs. of India, Chinese and Spanish.
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 Colonial Park neighborhood in Princeton Junction, NJ, residents most commonly identify their ethnicity or ancestry as Asian (42.8%). There are also a number of people of Irish ancestry (8.5%), and residents who report German roots (8.5%), and some of the residents are also of English ancestry (6.3%), along with some Italian ancestry residents (5.5%), among others. In addition, 39.9% 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 Colonial Park neighborhood spend between 15 and 30 minutes commuting one-way to work (33.0% of working residents), which is shorter than the time spent commuting to work for most Americans. However, there is also a significant group of residents (18.1%) who commute over an hour in each direction.
Here most residents (45.9%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (10.5%) and 6.0% 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.
