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.
Palm Ave / W 42nd St median real estate price is $470,479, which is more expensive than 55.1% of the neighborhoods in Florida and 62.0% of the neighborhoods in the U.S.
The average rental price in Palm Ave / W 42nd St is currently $3,046, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 65.9% of the neighborhoods in Florida.
Palm Ave / W 42nd St is an urban neighborhood (based on population density) located in Hialeah, Florida.
Palm Ave / W 42nd St real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Palm Ave / W 42nd St neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
In Palm Ave / W 42nd St, the current vacancy rate is 2.2%, which is a lower rate of vacancies than 85.4% of all neighborhoods in the U.S. This means that the housing supply in Palm Ave / W 42nd St is very tight compared to the demand for property here.
Notable & Unique Neighborhood Characteristics
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 Hialeah, the Palm Ave / W 42nd St neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
The Palm Ave / W 42nd St neighborhood stands out within Florida for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 7.2% of college-friendly places to live in FL.
Diversity
Did you know that the Palm Ave / W 42nd St neighborhood has more Cuban and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 79.1% of this neighborhood's residents have Cuban ancestry and 9.2% have South American ancestry.
Palm Ave / W 42nd St is also pretty special linguistically. Significantly, 92.9% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 99.8% of all U.S. neighborhoods.
Migration / Stability
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Palm Ave / W 42nd St neighborhood. What is interesting to note, is that the Palm Ave / W 42nd St neighborhood has a greater percentage of residents born in another country (71.1%) than are found in 99.8% of all U.S. neighborhoods.
The Neighbors
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 Palm Ave / W 42nd St neighborhood in Hialeah are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 89.4% of U.S. neighborhoods. With 22.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 72.0% of U.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 Palm Ave / W 42nd St neighborhood, 32.4% of the working population is employed in manufacturing and laborer 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 25.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (21.0%), and 20.8% in executive, management, and professional occupations.
Languages
The most common language spoken in the Palm Ave / W 42nd St neighborhood is Spanish, spoken by 92.9% of households. Some people also speak English (7.1%).
Ethnicity / Ancestry
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the Palm Ave / W 42nd St neighborhood in Hialeah, FL, residents most commonly identify their ethnicity or ancestry as Cuban (79.1%). There are also a number of people of South American ancestry (9.2%), and residents who report Mexican roots (3.4%). In addition, 71.1% of the residents of this neighborhood were born in another country.
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 Palm Ave / W 42nd St neighborhood spend between 30 and 45 minutes commuting one-way to work (40.7% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (81.0%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (12.3%) . 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.
