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.
Algonquin median real estate price is $82,962, which is less expensive than 94.6% of Kentucky neighborhoods and 97.2% of all U.S. neighborhoods.
The average rental price in Algonquin is currently $929, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 93.8% of Kentucky neighborhoods.
Algonquin is a suburban neighborhood (based on population density) located in Louisville, Kentucky.
Algonquin 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 small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Algonquin neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.
Home and apartment vacancy rates are 8.6% in Algonquin. NeighborhoodScout analysis shows that this rate is lower than 43.6% 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.
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 Algonquin neighborhood has more single mother households than 100.0% 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 Algonquin neighborhood stands out for having an average per capita income lower than 100.0% of the neighborhoods in the United States. The Algonquin neighborhood also has a greater percentage of children living in poverty (97.7%) than found in 99.8% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.
Also, the Algonquin neighborhood is unique for having just 2.6% of adults here having earned a bachelor's degree. This is a lower rate of college graduates than NeighborhoodScout found in 98.5% of America's neighborhoods.
Modes of Transportation
Our research revealed that more commuters here take the bus to work (43.7% ride the bus) than 99.9% 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.
Real Estate
96.8% of the real estate in the Algonquin neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
In addition, the Algonquin neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 82.3% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
Car Ownership
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Algonquin neighborhood have a highly unusual car ownership. 32.8% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.4% of U.S. neighborhoods.
Diversity
Did you know that the Algonquin neighborhood has more Sub-Saharan African and African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 24.6% of this neighborhood's residents have Sub-Saharan African ancestry and 12.0% have African ancestry.
Algonquin is also pretty special linguistically. Significantly, 7.9% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 99.5% of the neighborhoods in America.
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 Algonquin neighborhood in Louisville are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 100.0% of U.S. neighborhoods. With 97.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 99.8% 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 Algonquin neighborhood, 37.4% 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 25.6% of the residents employed. Other residents here are employed in executive, management, and professional occupations (24.8%), and 12.2% in clerical, assistant, and tech support 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 Algonquin neighborhood is English, spoken by 75.7% of households. Other important languages spoken here include Spanish and African languages.
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 Algonquin neighborhood in Louisville, KY, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (24.6%). There are also a number of people of African ancestry (12.0%), and residents who report German roots (2.9%). In addition, 10.7% of the residents of this neighborhood were born in another country.
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 Algonquin neighborhood spend between 45 minutes and one hour commuting one-way to work (69.1% of working residents), longer and tougher than most commutes in America.
Here most residents (43.7%) ride the bus to get to work. In addition, quite a number also drive alone in a private automobile to get to work (28.2%) and 6.3% of residents also carpool with coworkers, friends, or neighbors for their daily commute. The bus provides a valuable service in the Algonquin neighborhood of Louisville by getting a lot of residents to and from work daily, reducing the costs of commuting and reducing some congestion on the roads as well.
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.
