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.
Riverwood / Pacesetter Gardens median real estate price is $158,766, which is less expensive than 79.2% of Illinois neighborhoods and 86.4% of all U.S. neighborhoods.
The average rental price in Riverwood / Pacesetter Gardens is currently $2,142, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 61.0% of the neighborhoods in Illinois.
Riverwood / Pacesetter Gardens is a rural neighborhood (based on population density) located in Riverdale, Illinois.
Riverwood / Pacesetter Gardens real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) townhomes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Riverwood / Pacesetter Gardens neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.
Vacant apartments or homes are a major fact of life in Riverwood / Pacesetter Gardens. The current real estate vacancy rate here is 37.4%. This is higher than the rate of vacancies in 97.0% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually 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
Whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the Riverwood / Pacesetter Gardens neighborhood has more single mother households than 98.7% of the neighborhoods in the U.S. Often high concentrations of single mother homes can be a strong indicator of family and social issues such as poverty, high rates of school dropouts, crime, and other societal problems.
In addition, the Riverwood / Pacesetter Gardens neighborhood stands out for having an average per capita income lower than 97.4% of the neighborhoods in the United States.
Real Estate
If you love row houses and attached homes, you will probably really like the Riverwood / Pacesetter Gardens neighborhood. The ambiance, the charm, of row houses is something special. And in sheer abundance of row houses, this neighborhood truly stands out. The real estate here has a higher proportion of row houses and attached homes than nearly any neighborhood in America. In fact, 43.7% of the residential real estate here is classified as row houses and attached homes.
In addition, despite all of the residential real estate here in the Riverwood / Pacesetter Gardens neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 37.4%, which is higher than 97.0% of all U.S. neighborhoods.
Modes of Transportation
Our research revealed that more commuters here take the bus to work (11.4% ride the bus) than 95.6% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.
Diversity
Did you know that the Riverwood / Pacesetter Gardens neighborhood has more Jamaican and Canadian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 14.6% of this neighborhood's residents have Jamaican ancestry and 2.1% have Canadian ancestry.
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 Riverwood / Pacesetter Gardens neighborhood in Riverdale are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 97.4% of U.S. neighborhoods. With 36.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 87.0% of U.S. neighborhoods.
The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.
In the Riverwood / Pacesetter Gardens neighborhood, 26.9% 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 executive, management, and professional occupations, with 26.9% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (24.5%), and 21.8% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Riverwood / Pacesetter Gardens neighborhood is English, spoken by 92.5% of households. Some people also speak Spanish (5.4%).
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 Riverwood / Pacesetter Gardens neighborhood in Riverdale, IL, residents most commonly identify their ethnicity or ancestry as Jamaican (14.6%). There are also a number of people of Sub-Saharan African ancestry (12.2%), and residents who report Mexican roots (3.9%), and some of the residents are also of Canadian ancestry (2.1%), along with some German ancestry residents (1.3%), among others.
Getting to Work
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Riverwood / Pacesetter Gardens neighborhood spend between 15 and 30 minutes commuting one-way to work (33.4% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (70.2%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (11.4%) and 6.2% of residents also carpool with coworkers, friends, or neighbors for their daily commute. 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.
