Census Tract 48.02 is a Low-Income CommunityOpportunity Zone located in Newark, New Jersey.
This 0.9 square milecensus tract has a population of approximately 2,700and is one of 23 Opportunity Zones in Essex County.
The adjacent map shows the location of this Opportunity Zone in New Jersey.
Census Tract 48.02 Demographics
The charts below illustrate how this Opportunity Zone compares to the broader city, county, and state on various socioeconomic indicators:
Median Household Income
This Opportunity Zone has a median household incomeof approximately $15,000, which is 83% lowerthan the median household income for the state of New Jersey of $86,000.
The percentage of households below the poverty line in this Opportunity Zone is 41%, which is 32% higherthan the rate for the state of New Jersey of 9.2%.
Median Home Value
This Opportunity Zone has a median home valueof approximately $190,000, which is 46% lowerthan the median home value for the state of New Jersey of $350,000.
This Opportunity Zone has a percentage of population with high school diplomaof approximately 66%, which is 24% lowerthan the rate for the state of New Jersey of 90%.
This Opportunity Zone has a median ageof approximately 49, which is 23% higherthan the median age for the state of New Jersey of 40.
New Jersey OZ Funds
There are 6QOZ Fundsin the OpportunityDb database with an investment objective that specifically identify New Jerseyas a target market. Additional OZ funds may also invest in New Jersey; see a complete list of Opportunity Zone Funds here.
|Fund Name||Asset Classes||Property Types||Fund Size|
|Golden Door Asset Management Opportunity Fund||Business||$100M|
|KindCare Assisted Living||Business, Real Estate||Residential, Senior Housing||$30M|
|Normandy Opportunity Zone Fund LP||Real Estate||Commercial, Industrial, Mixed-Use, Office, Residential||$250M|
|Saxum Opportunity Zone Fund||Real Estate||Industrial, Office, Residential||$100M|
|Shorewood Opportunity Zone Fund||Real Estate||Affordable Housing, Mixed-Use, Residential||$250M|
|Strategic Rivermont OZ Fund, LLC||Real Estate||Commercial, Energy Development, Hotel, Mixed-Use, Residential, Stadiums and Arenas, Student Housing||$100M|
There are no Opportunity Zone Funds in the OpportunityDb databasewith a focus specifically on New Jersey properties.