Russell Estates / Washington Oaks median real estate price is $1,627,806, which is more expensive than 97.6% of the neighborhoods in New Jersey and 96.9% of the neighborhoods in the U.S.
The average rental price in Russell Estates / Washington Oaks is currently $3,714, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 75.2% of the neighborhoods in New Jersey.
Russell Estates / Washington Oaks is a suburban neighborhood (based on population density) located in Princeton, New Jersey.
Russell Estates / Washington Oaks 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 occupied by a mixture of owners and renters. Many of the residences in the Russell Estates / Washington Oaks neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 and the present.
Russell Estates / Washington Oaks has a 12.9% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 72.2% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
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, the Russell Estates / Washington Oaks neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
The rate of college educated adults in the Russell Estates / Washington Oaks neighborhood is a unique characteristic of the neighborhood. 96.5% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 34.3% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 100.0% of all U.S. neighborhoods.
In addition, a majority of the adults in the Russell Estates / Washington Oaks 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 98.3% 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.
Also, 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 2.1% of America's neighborhoods are wealthier than the Russell Estates / Washington Oaks 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.
Occupations
The Russell Estates / Washington Oaks neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.4% of the neighborhoods in America. In fact, 81.9% 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 Russell Estates / Washington Oaks neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 21.4% of residents here. This is a higher proportion of walking commuters than we found in 98.4% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, in the Russell Estates / Washington Oaks neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 29.5% 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 96.6% 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.
Finally, would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the Russell Estates / Washington Oaks neighborhood is a fantastic option for bicycle commuters, as 2.8% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 95.4% of the neighborhoods in America.
Diversity
Did you know that the Russell Estates / Washington Oaks neighborhood has more Ukrainian and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.1% of this neighborhood's residents have Ukrainian ancestry and 5.2% have Russian ancestry.
Russell Estates / Washington Oaks is also pretty special linguistically. Significantly, 1.8% 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 98.3% 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 Russell Estates / Washington Oaks neighborhood in Princeton 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 97.9% of the neighborhoods in America. In addition, 6.7% 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 59.5% 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 Russell Estates / Washington Oaks neighborhood, 81.9% 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 11.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (6.0%).
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 Russell Estates / Washington Oaks neighborhood is English, spoken by 71.9% of households. Other important languages spoken here include Chinese, Langs. of India, German/Yiddish 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 Russell Estates / Washington Oaks neighborhood in Princeton, NJ, residents most commonly identify their ethnicity or ancestry as Asian (19.1%). There are also a number of people of Irish ancestry (12.6%), and residents who report German roots (12.0%), and some of the residents are also of English ancestry (8.6%), along with some Italian ancestry residents (8.5%), among others. In addition, 29.2% 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 Russell Estates / Washington Oaks neighborhood spend under 15 minutes commuting one-way to work (48.2% of working residents), one of the shortest commutes across America.
Here most residents (35.2%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (21.4%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
