What do we mean by a neighborhood?
NeighborhoodScout® uses the official government designation for neighborhoods - the census tract.
Census tracts are small, relatively permanent subdivisions of a county that are defined by the U.S. Census Bureau in conjunction with local authorities all across the country to define real neighborhoods that are bounded to contain areas with homogeneous population characteristics (including economic status, lifestyle, and living conditions). Census tracts usually have 4,000 persons, but can range between 1,500 and 8,000 persons. This is the most fine-grained area for which detailed information is made available from the government, to protect the individual privacy of each of us. Because census tracts are based on population, they vary in size depending on the density of settlement. In urban areas, they are small, and in rural areas they can cover an entire small town or even a few small towns in very rural areas.
Since census tracts are subdivisions of a county, we did a spatial overlay of the census tracts onto city and town boundaries using a geographic information system to properly assign each census tract to its appropriate city or town. Then we named each census tract to the local colloquially recognized neighborhood name for that spot (e.g., Boston, MA (Dorchester). If there was not a name available, we named the census tract by the largest street intersection in the census tract (e.g., Worcester, MA (Lincoln St/Plantation St)
Why we don't use Zip Codes as neighborhoods
Zip codes were developed by the Postal Service for the purpose of delivering mail, but were never intended to define coherent neighborhoods. In addition, Zip Codes can have as many as 10 distinctly different census tracts contained within them. When distinct census tracts are blended together in a single Zip Code, the data reflects their average conditions and often gives a false sense of the area. The result is that potentially great matching neighborhoods can be missed, and erroneous matches can also be produced and delivered to you.
Using census tracts makes great matches possible, and helps people find the areas that are best for them and their families. Because we are committed to providing the highest possible quality and finding the neighborhoods that best meet your criteria, we use census tracts. And, as always, we show you the actual street map of the neighborhood so you know exactly where your best matching neighborhood is located.
What is a Condition Alert?
A condition alert is a condition in the neighborhood that triggers an alert. NeighborhoodScout contains condition alerts to highlight conditions that are extreme, whether good or bad. This helps answer crucial questions about the state of the neighborhood being evaluated, such as:
What are the risks of violent crime here?
Is the risk of home break-ins or other property crimes increasing?
Does real estate here hold its value?
Are the trends in local vacancies or unemployment concerning?
...and dozens more.
Information at a glance that you need to know to invest, appraise or finance a property.
Mount Hope median real estate price is $451,586, which is less expensive than 68.5% of New Jersey neighborhoods and 40.3% of all U.S. neighborhoods.
The average rental price in Mount Hope is currently $3,201, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 51.1% of New Jersey neighborhoods.
Mount Hope is a suburban neighborhood (based on population density) located in Rockaway, New Jersey.
Mount Hope 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 single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Mount Hope neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
Home and apartment vacancy rates are 7.5% in Mount Hope. NeighborhoodScout analysis shows that this rate is lower than 51.0% of the neighborhoods in the nation, approximately near the middle range for vacancies.
Notable & Unique Neighborhood Characteristics
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
In a nation where 1 out of every 4 children lives in poverty, the Mount Hope neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, if you are planning to retire in New Jersey, this neighborhood should be on your must-see list. For many reasons, Mount Hope may be considered a retiree's dream neighborhood. According to NeighborhoodScout's exclusive analysis and metrics, it's peaceful and quiet, has above average safety from crime compared to other neighborhoods in New Jersey, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood more retiree-friendly than 97.7% of neighborhoods in NJ. If a New Jersey retirement is in your future, this neighborhood should be one of the places you visit.
Also, one of the most interesting things about the Mount Hope neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 51.2% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 96.2% of the neighborhoods in America.
Real Estate
The Mount Hope neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 87.2% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
In addition, one of the really unique and interesting things about the look and setting of the Mount Hope neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 75.6% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 96.0% of all neighborhoods in America.
Diversity
Did you know that the Mount Hope neighborhood has more Italian and Brazilian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 31.9% of this neighborhood's residents have Italian ancestry and 3.6% have Brazilian ancestry.
Migration / Stability
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. More residents of the Mount Hope neighborhood live here today that also were living in this same neighborhood five years ago than is found in 97.9% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while.
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 Mount Hope neighborhood in Rockaway are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 56.5% 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 Mount Hope neighborhood, 57.8% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 15.1% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (13.8%), and 13.3% in clerical, assistant, and tech support occupations.
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 Mount Hope neighborhood is English, spoken by 94.9% of households. Other important languages spoken here include Polish and Langs. of India.
Ethnicity / Ancestry
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 Mount Hope neighborhood in Rockaway, NJ, residents most commonly identify their ethnicity or ancestry as Italian (31.9%). There are also a number of people of German ancestry (22.6%), and residents who report Irish roots (16.9%), and some of the residents are also of Russian ancestry (6.3%), along with some Polish ancestry residents (6.1%), among others.
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 Mount Hope neighborhood spend between 15 and 30 minutes commuting one-way to work (35.6% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (67.6%) 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 (5.7%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
SCOUT’s patented match algorithm identifies the most similar neighborhoods to a subject location, and quantifies the similarity to the subject location. This allows analysts to identify the most similar neighborhoods in a local market area for appraisals, investments, and research.
The algorithm uses 273 neighborhood conditions, identifies the dominant dimensions underlying the conditions and calculates the similarity. This captures the true culture and character of locations, economic conditions, and trends.
The closer to 100% means the locations are nearly identical. 80% is a very good, but not excellent match, and so forth.
