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.
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.
People
Wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Colonial Park neighborhood is wealthier than 97.8% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood. 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, some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 53.8% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 99.5% of U.S. neighborhoods, where the average American neighborhood has 13.4% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.
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
Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. 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
A unique way of commuting is simply not to. And in the Colonial Park neighborhood, analysis shows that 35.5% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 98.9% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
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.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
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
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
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.
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 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.
