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.
Collierville Southwest median real estate price is $680,909, which is more expensive than 92.5% of the neighborhoods in Tennessee and 78.7% of the neighborhoods in the U.S.
Average rental prices in the Collierville Southwest neighborhood are currently unreported, based on NeighborhoodScout's exclusive analysis.
Collierville Southwest is a rural neighborhood (based on population density) located in Collierville, Tennessee.
Collierville Southwest real estate is primarily made up of large (four, five or more bedroom) to medium sized (three or four bedroom) single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Collierville Southwest neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
In Collierville Southwest, the current vacancy rate is 2.8%, which is a lower rate of vacancies than 81.5% of all neighborhoods in the U.S. This means that the housing supply in Collierville Southwest is very tight compared to the demand for property here.
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 Collierville, the Collierville Southwest neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
Of note is NeighborhoodScout's research finding that the Collierville Southwest neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Collierville Southwest community truly stands out from the rest in this regard.
In addition, priests and therapists would like to think they know the secrets to a truly successful marriage, but according to NeighborhoodScout's research, the folks of the Collierville Southwest neighborhood may actually hold the key. 75.2% of its residents are married, which is a higher percentage than is found in 99.0% of the neighborhoods in America.
Also, the rate of college educated adults in the Collierville Southwest neighborhood is a unique characteristic of the neighborhood. 77.9% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 34.3% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 97.1% of all U.S. neighborhoods.
Finally, the Collierville Southwest neighborhood is considered a solid choice for executive lifestyles. NeighborhoodScout's analysis ranks it as better than 94.7% of Tennessee neighborhoods for executive living, based on the wealthy, educated professionals, executives, and managers who choose to reside here, the spacious homes that are prominent features of the real estate in the neighborhood, and the high real estate appreciation rates found here relative to other neighborhoods in the state. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for families with school-aged children and urban sophisticates.
Real Estate
One way that the Collierville Southwest neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 99.9% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.
In addition, owner-occupied real estate dominates the Collierville Southwest neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 99.8% of neighborhoods in America.
Furthermore, the Collierville Southwest neighborhood has earned the amazing distinction of having one of the highest rates of detached, single-family homes of any neighborhood in the U.S. With 100.0% of the residential real estate here made up of free-standing single-family homes, there is a greater proportion of single-family homes here than in 98.7% of all neighborhoods in America.
Also of note, if you like the look and ambience of new homes and newly built neighborhoods, you will love the Collierville Southwest neighborhood. A whopping 78.9% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 97.3% of the neighborhoods in the U.S. Everything here just feels new.
Diversity
Did you know that the Collierville Southwest neighborhood has more Eastern European and Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.9% of this neighborhood's residents have Eastern European ancestry and 32.9% have Asian ancestry.
Collierville Southwest is also pretty special linguistically. Significantly, 6.7% of its residents five years old and above primarily speak Vietnamese at home. While this may seem like a small percentage, it is higher than 98.9% 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 Collierville Southwest neighborhood in Collierville 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 93.9% of the neighborhoods in America. In addition, 0.0% 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 100.0% of America'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 Collierville Southwest neighborhood, 51.3% 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 23.5% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (14.7%), and 10.5% 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 Collierville Southwest neighborhood is English, spoken by 67.3% of households. Other important languages spoken here include Vietnamese, Spanish, Langs. of India and Korean.
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 Collierville Southwest neighborhood in Collierville, TN, residents most commonly identify their ethnicity or ancestry as Asian (32.9%). There are also a number of people of English ancestry (4.3%), and residents who report Eastern European roots (3.9%), and some of the residents are also of Mexican ancestry (3.1%), along with some Irish ancestry residents (1.4%), among others. In addition, 26.3% 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 Collierville Southwest neighborhood spend between 30 and 45 minutes commuting one-way to work (42.9% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (80.6%) 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 (7.1%) . 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.
