There are currently 1,088 real estate properties in Prospect Park, NJ, with a median automated valuation model (AVM) price of $429,800.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Prospect Park, NJ, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Prospect Park, NJ, is $433,986.00, with the most expensive house in Prospect Park, NJ, topping out at $790,000.00 and the cheapest home in Prospect Park, NJ, clocking in at $231,000.00. In other words, there’s something for every potential homebuyer or savvy investor in Prospect Park, NJ!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Prospect Park, NJ, is on a rollercoaster ride. The average rent price in Prospect Park, NJ, is $1,962.00. Indeed, when looking to rent in Prospect Park, NJ, you can expect to pay as little as $1,350.00 or as much as $3,080.00, with the average rent median estimated to be $1,820.00. The good news is that finding an affordable and desirable property to rent in Prospect Park, NJ -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Prospect Park, NJ area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Prospect Park, NJ and much more. Save thousands at closing with home foreclosure listings in Prospect Park, NJ — up to 75% off market value!
Prospect Park is located in Passaic, New Jersey, with an estimated municipal population of 5,843 residents. All of the best foreclosed homes for sale in Prospect Park are located in the following zip code areas on Foreclosure.com: 07508. The estimated population per square kilometer (.62 miles) in Prospect Park is 4,848.
So, about how much do homes cost in Prospect Park? The most recent median value of resident-owned homes in Prospect Park is 267,084. An estimated 42.6 percent of households in Prospect Park own their homes, with an average family size of 4. The median household income in Prospect Park is 48,497, with22.4 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Prospect Park, the median commute time of resident workers (in minutes) is 25.2. And last, but certainly not least, are you looking for homes to rent in Prospect Park? If so, the average rent price paid by renters in Prospect Park is 1,439, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Prospect Park, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Prospect Park is 31, split between 51.3 percent male versus 48.7 female. The percentage of residents who report being married in Prospect Park is 39.4, with an average family size of 4.
The percentage of residents who report their race in Prospect Park is as follows:
| White | 62.1% |
| Black / African American | 22.6% |
| Asian | 0.8% |
| American Indian / Alaskan Native | 0.3% |
| Native Hawaiian / Other Pacifc Islander | 0% |
| Multi-racial | 3.3% |
| Other | 10.9% |
Looking for family-friendly neighborhoods in and/or near Prospect Park? Or maybe you are searching for 55+ active adult communities in and/or near Prospect Park?
The percentage of residents who report their age in Prospect Park is as follows:
| Under 10 | 17.3% |
| Aged 10-19 | 14.9% |
| 20s | 14.8% |
| 30s | 16.2% |
| 40s | 10.9% |
| 50s | 13.3% |
| 60s | 6.3% |
| 70s | 4.6% |
| 80+ | 1.9% |
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Prospect Park with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Prospect Park.
How do you know that living in -- or moving to -- Prospect Park is right where you need to be? Perhaps you grew up in Prospect Park or already live nearby; therefore, the decision to buy a home in Prospect Park is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Prospect Park for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Prospect Park:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Prospect Park.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Prospect Park can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Prospect Park, meanwhile, can field multiple offers from more qualified buyers.
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