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.
Parnell median real estate price is $292,379, which is more expensive than 72.9% of the neighborhoods in Arkansas and 37.8% of the neighborhoods in the U.S.
The average rental price in Parnell is currently $1,537, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 73.4% of the neighborhoods in Arkansas.
Parnell is a remote neighborhood (based on population density) located in Cabot, Arkansas.
Parnell real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Parnell neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.
Parnell has a 10.9% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 65.4% 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.
Notable & Unique Neighborhood Characteristics
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
People
Of note is NeighborhoodScout's research finding that the Parnell neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Parnell community truly stands out from the rest in this regard.
Occupations
With 6.2% of employed workers living in the Parnell neighborhood active in the military, this neighborhood has the distinction of having a higher proportion of people in the military than 99.0% of American neighborhoods. This is a major shaper of the neighborhood's culture and character.
Furthermore, it used to be that most Americans lived on the farm, or otherwise made their living from the land, the forests, or the sea. With global trade and an economy increasingly based on providing services to one another, fewer people farm, fish or harvest timber now than at any time in American history. But according to NeighborhoodScout's leading analysis, the Parnell neighborhood stands apart from most American neighborhood due to the proportion of its residents still working in these fields. With 3.9% of the workforce so employed, this neighborhood has a greater concentration of such workers than 95.6% of U.S. neighborhoods.
In addition, neighborhoodScout's exclusive research identifies the Parnell neighborhood as having one of the highest concentrations of people employed in manufacturing or as laborers of any neighborhood in America. In fact, despite the loss of manufacturing jobs nationally, this neighborhood has 42.0% of its working residents employed in such fields, which is a higher proportion than 95.3% of American neighborhoods.
Real Estate
The real estate in this neighborhood consists of more mobile homes than 95.3% of all neighborhoods in America, with 30.6% of the occupied housing here being classified as mobile homes. So if you are looking for a mobile home, or you like the look and feel of mobile home parks, this neighborhood might have the setting you desire.
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 Parnell neighborhood in Cabot are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 68.8% 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.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the Parnell neighborhood, 42.0% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 20.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (17.3%), and 16.3% in sales and service jobs, from major sales accounts, to working in fast food restaurants.
Languages
The most common language spoken in the Parnell neighborhood is English, spoken by 96.4% of households. Some people also speak Spanish (3.2%).
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 Parnell neighborhood in Cabot, AR, residents most commonly identify their ethnicity or ancestry as English (10.9%). There are also a number of people of Irish ancestry (6.7%), and residents who report German roots (5.4%), and some of the residents are also of Mexican ancestry (4.2%), along with some Scots-Irish ancestry residents (1.9%), 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 Parnell neighborhood spend between 15 and 30 minutes commuting one-way to work (43.3% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (86.8%) drive alone in a private automobile to get to work. 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.
