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.
Mount Hope median real estate price is $1,249,779, which is more expensive than 82.7% of the neighborhoods in New York and 94.4% of the neighborhoods in the U.S.
The average rental price in Mount Hope is currently $4,415, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 81.9% of the neighborhoods in New York.
Mount Hope is a suburban neighborhood (based on population density) located in Hastings-on-Hudson, New York.
Mount Hope real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the Mount Hope neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.
In Mount Hope, the current vacancy rate is 0.4%, which is a lower rate of vacancies than 93.2% of all neighborhoods in the U.S. This means that the housing supply in Mount Hope is very tight compared to the demand for property here.
Notable & Unique Neighborhood Characteristics
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
People
Think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the Mount Hope neighborhood: a neighborhood in which more "urban sophisticates" live than 99.8% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for families with school-aged children, highly educated executives and active retirees.
In addition, if you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 1.1% of America's neighborhoods are wealthier than the Mount Hope neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe.
Also, some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 48.0% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 98.9% of U.S. neighborhoods, where the average American neighborhood has 13.4% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.
Finally, there is an especially high percentage of incarcerated people (0.7%) living in the Mount Hope neighborhood.
Modes of Transportation
In the Mount Hope neighborhood, 29.4% 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 98.1% of the neighborhoods in America.
Occupations
The Mount Hope neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 97.9% of the neighborhoods in America. In fact, 75.5% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Diversity
Did you know that the Mount Hope neighborhood has more Eastern European and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.3% of this neighborhood's residents have Eastern European ancestry and 5.6% have Russian 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 Mount Hope neighborhood in Hastings-on-Hudson are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 98.9% of the neighborhoods in America. In addition, 1.3% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 77.6% of America'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 Mount Hope neighborhood, 75.5% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 10.5% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (9.6%), and 4.4% in manufacturing and laborer occupations.
Languages
The most common language spoken in the Mount Hope neighborhood is English, spoken by 84.7% of households. Some people also speak Spanish (5.5%).
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 Mount Hope neighborhood in Hastings-on-Hudson, NY, residents most commonly identify their ethnicity or ancestry as Italian (17.9%). There are also a number of people of Irish ancestry (13.2%), and residents who report German roots (8.3%), and some of the residents are also of English ancestry (7.8%), along with some Asian ancestry residents (6.2%), among others. In addition, 15.4% 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 Mount Hope neighborhood spend between 45 minutes and one hour commuting one-way to work (40.6% of working residents), longer and tougher than most commutes in America.
Here most residents (43.6%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (29.4%) . 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.
