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.
North Franke Park median real estate price is $179,824, which is less expensive than 66.7% of Indiana neighborhoods and 82.7% of all U.S. neighborhoods.
The average rental price in North Franke Park is currently $1,309, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 68.6% of Indiana neighborhoods.
North Franke Park is a suburban neighborhood (based on population density) located in Fort Wayne, Indiana.
North Franke Park 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 single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the North Franke Park neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built before 1940.
Home and apartment vacancy rates are 8.9% in North Franke Park. NeighborhoodScout analysis shows that this rate is lower than 43.2% of the neighborhoods in the nation, approximately near the middle range for vacancies.
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.
Modes of Transportation
Our research shows that more people carpool to work here in the North Franke Park (28.2%) than in 98.4% of the neighborhoods in America.
Occupations
NeighborhoodScout's exclusive research identifies the North Franke Park 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 44.7% of its working residents employed in such fields, which is a higher proportion than 97.0% of American neighborhoods.
People
There is an especially high percentage of incarcerated people (1.2%) living in the North Franke Park neighborhood.
In addition, north Franke Park is ranked among the top 7.6% of neighborhoods for first-time home buyers to consider in the state of Indiana according to NeighborhoodScout's exclusive analysis. Homes here are priced below median housing values in the state, yet maintain moderate appreciation rates compared to other communities. Buying into the North Franke Park neighborhood is not only an accessible option but an investment opportunity for many first-time home buyers.
Diversity
Did you know that the North Franke Park neighborhood has more Finnish and Yugoslav ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.1% of this neighborhood's residents have Finnish ancestry and 0.7% have Yugoslav ancestry.
Migration / Stability
The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the North Franke Park neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 96.3% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 North Franke Park neighborhood in Fort Wayne are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 82.7% of U.S. neighborhoods. With 14.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 59.2% 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 North Franke Park neighborhood, 44.7% 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 23.6% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (23.3%), and 8.4% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the North Franke Park neighborhood is English, spoken by 71.3% of households. Some people also speak Spanish (22.3%).
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 North Franke Park neighborhood in Fort Wayne, IN, residents most commonly identify their ethnicity or ancestry as Mexican (20.7%). There are also a number of people of German ancestry (13.8%), and residents who report Irish roots (6.2%), and some of the residents are also of Italian ancestry (4.7%), along with some Asian ancestry residents (4.0%), 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 North Franke Park neighborhood spend between 15 and 30 minutes commuting one-way to work (62.5% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (58.5%) 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 (28.2%) and 8.5% of residents also hop out the door and walk to work 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.
