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.
Wallabout St / Walton St median real estate price is $1,831,407, which is more expensive than 91.3% of the neighborhoods in New York and 97.3% of the neighborhoods in the U.S.
The average rental price in Wallabout St / Walton St is currently $4,602, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 84.1% of the neighborhoods in New York.
Wallabout St / Walton St is a densely urban neighborhood (based on population density) located in Brooklyn, New York.
Wallabout St / Walton St real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two 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 Wallabout St / Walton St neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
Home and apartment vacancy rates are 9.5% in Wallabout St / Walton St. NeighborhoodScout analysis shows that this rate is lower than 40.7% of the neighborhoods in the nation, approximately near the middle range for vacancies.
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 Brooklyn, the Wallabout St / Walton St neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
What you'll find when you visit or move to this neighborhood is one of the most crowded neighborhoods in all of America. With an incredible 183,920 people per square mile, it is more densely populated than 100.0% of America's neighborhoods.
In addition, one of the really unique and interesting things about the look and setting of the Wallabout St / Walton St neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 78.2% 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 96.4% of all neighborhoods in America.
Furthermore, homes built from 2000 through today make up a higher proportion of the Wallabout St / Walton St neighborhood's real estate landscape than 95.5% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 68.5% of the residential real estate here is classified as newer.
Modes of Transportation
In the Wallabout St / Walton St neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 45.1% of residents here. This is a higher proportion of walking commuters than we found in 99.7% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, in the Wallabout St / Walton St neighborhood, 24.8% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 97.7% of the neighborhoods in America.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the Wallabout St / Walton St neighborhood buck this trend. 49.1% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.7% of U.S. neighborhoods.
Diversity
Did you know that the Wallabout St / Walton St neighborhood has more Romanian and Hungarian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 10.0% of this neighborhood's residents have Romanian ancestry and 15.4% have Hungarian ancestry.
Wallabout St / Walton St is also pretty special linguistically. Significantly, 83.6% of its residents five years old and above primarily speak German/Yiddish at home. This is a higher percentage than 100.0% of all U.S. neighborhoods.
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. More residents of the Wallabout St / Walton St neighborhood live here today that also were living in this same neighborhood five years ago than is found in 97.8% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while.
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 Wallabout St / Walton St neighborhood in Brooklyn are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 42.5% of the neighborhoods in America. With 44.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 91.8% 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 Wallabout St / Walton St neighborhood, 46.2% of the working population is employed in executive, management, and professional 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 27.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (19.2%), and 7.2% in manufacturing and laborer occupations.
Languages
The most common language spoken in the Wallabout St / Walton St neighborhood is German/Yiddish, spoken by 83.6% of households. Some people also speak English (12.8%).
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 Wallabout St / Walton St neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as Hungarian (15.4%). There are also a number of people of Romanian ancestry (10.0%), and residents who report English roots (6.1%), and some of the residents are also of Irish ancestry (5.9%), along with some Polish ancestry residents (4.2%), 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 Wallabout St / Walton St neighborhood spend between 15 and 30 minutes commuting one-way to work (38.2% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (45.1%) hop out the door and walk to work to get to work. In addition, quite a number also take the train to get to work (24.8%) and 13.2% of residents also carpool with coworkers, friends, or neighbors for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
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.
