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.
Homestead Extension of Floridas Tpke / SW 162nd Ave median real estate price is $445,312, which is more expensive than 53.4% of the neighborhoods in Florida and 61.3% of the neighborhoods in the U.S.
The average rental price in Homestead Extension of Floridas Tpke / SW 162nd Ave is currently $2,365, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 60.0% of Florida neighborhoods.
Homestead Extension of Floridas Tpke / SW 162nd Ave is an urban neighborhood (based on population density) located in Homestead, Florida.
Homestead Extension of Floridas Tpke / SW 162nd Ave 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 townhomes. Most of the residential real estate is renter occupied. Many of the residences in the Homestead Extension of Floridas Tpke / SW 162nd Ave 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.
Real estate vacancies in Homestead Extension of Floridas Tpke / SW 162nd Ave are 3.6%, which is lower than one will find in 76.2% of American neighborhoods. Demand for real estate in Homestead Extension of Floridas Tpke / SW 162nd Ave is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.
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 Homestead, the Homestead Extension of Floridas Tpke / SW 162nd Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Occupations
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 Homestead Extension of Floridas Tpke / SW 162nd Ave neighborhood stands apart from most American neighborhood due to the proportion of its residents still working in these fields. With 5.4% of the workforce so employed, this neighborhood has a greater concentration of such workers than 97.2% of U.S. neighborhoods.
Real Estate
Renter-occupied real estate is dominant in the Homestead Extension of Floridas Tpke / SW 162nd Ave neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 89.1%, which is higher than 96.5% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.
In addition, one of the really unique and interesting things about the look and setting of the Homestead Extension of Floridas Tpke / SW 162nd Ave neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 73.2% 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 95.6% of all neighborhoods in America.
Modes of Transportation
Our research shows that more people carpool to work here in the Homestead Extension of Floridas Tpke / SW 162nd Ave (23.8%) than in 96.3% of the neighborhoods in America.
Diversity
Did you know that the Homestead Extension of Floridas Tpke / SW 162nd Ave neighborhood has more Haitian and Yugoslav ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 14.1% of this neighborhood's residents have Haitian ancestry and 1.9% have Yugoslav ancestry.
Homestead Extension of Floridas Tpke / SW 162nd Ave is also pretty special linguistically. Significantly, 14.1% of its residents five years old and above primarily speak French at home. While this may seem like a small percentage, it is higher than 99.5% of the neighborhoods in America.
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. What is interesting to note, is that the Homestead Extension of Floridas Tpke / SW 162nd Ave neighborhood has a greater percentage of residents born in another country (45.5%) than are found in 96.3% of all U.S. neighborhoods.
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 Homestead Extension of Floridas Tpke / SW 162nd Ave neighborhood in Homestead are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 92.6% of U.S. neighborhoods. With 15.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 61.3% of U.S. neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the Homestead Extension of Floridas Tpke / SW 162nd Ave neighborhood, 36.1% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 26.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (17.0%), and 15.5% in executive, management, and professional 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 Homestead Extension of Floridas Tpke / SW 162nd Ave neighborhood is Spanish, spoken by 59.3% of households. Other important languages spoken here include English and French.
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 Homestead Extension of Floridas Tpke / SW 162nd Ave neighborhood in Homestead, FL, residents most commonly identify their ethnicity or ancestry as Cuban (16.3%). There are also a number of people of Mexican ancestry (15.1%), and residents who report Haitian roots (14.1%), and some of the residents are also of South American ancestry (8.5%), along with some Puerto Rican ancestry residents (8.3%), among others. In addition, 45.5% 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 Homestead Extension of Floridas Tpke / SW 162nd Ave neighborhood spend under 15 minutes commuting one-way to work (31.8% of working residents), one of the shortest commutes across America.
Here most residents (69.9%) 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 (23.8%) . 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.
