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.
SE Loop 338 E / Lone Star Dr median real estate price is $405,877, which is more expensive than 69.6% of the neighborhoods in Texas and 54.9% of the neighborhoods in the U.S.
The average rental price in SE Loop 338 E / Lone Star Dr is currently $1,476, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 72.1% of Texas neighborhoods.
SE Loop 338 E / Lone Star Dr is a remote neighborhood (based on population density) located in Odessa, Texas.
SE Loop 338 E / Lone Star Dr real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the SE Loop 338 E / Lone Star Dr neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
In SE Loop 338 E / Lone Star Dr, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in SE Loop 338 E / Lone Star Dr is very tight compared to the demand for property here.
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.
Real Estate
This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the SE Loop 338 E / Lone Star Dr neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.
In addition, the real estate in this neighborhood consists of more mobile homes than 96.7% of all neighborhoods in America, with 35.1% of the occupied housing here being classified as mobile homes. So if you are looking for a mobile home, or you like the look and feel of mobile home parks, this neighborhood might have the setting you desire.
Furthermore, homes built from 2000 through today make up a higher proportion of the SE Loop 338 E / Lone Star Dr neighborhood's real estate landscape than 95.7% 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, 69.6% of the residential real estate here is classified as newer.
Occupations
More people work in manufacturing and as laborers here in the SE Loop 338 E / Lone Star Dr neighborhood than in 100.0% of the neighborhoods in America. Despite the loss of manufacturing jobs across the nation, this neighborhood remains a place where, compared to other parts of the country, you will find many laborers and manufacturers.
People
Of particular note, 17.0% of the people in the SE Loop 338 E / Lone Star Dr neighborhood currently reside in a correction facility, held due to punishment for a crime.
In addition, neighborhoodScout's exclusive research revealed that 96.9% of the adult residents in the SE Loop 338 E / Lone Star Dr neighborhood do not have a 4-year college degree, which is a lower rate of college graduated adults than found in 98.3% of the neighborhoods in America.
Diversity
Did you know that the SE Loop 338 E / Lone Star Dr neighborhood has more Scots-Irish and Scottish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.4% of this neighborhood's residents have Scots-Irish ancestry and 8.5% have Scottish ancestry.
SE Loop 338 E / Lone Star Dr is also pretty special linguistically. Significantly, 69.2% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 97.3% 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. In the SE Loop 338 E / Lone Star Dr neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.1% 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 SE Loop 338 E / Lone Star Dr neighborhood in Odessa are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 55.8% of the neighborhoods in America. With 35.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 86.1% 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 SE Loop 338 E / Lone Star Dr neighborhood, 76.4% 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 10.0% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (9.3%), and 4.4% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the SE Loop 338 E / Lone Star Dr neighborhood is Spanish, spoken by 69.2% of households. Some people also speak English (29.6%).
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 SE Loop 338 E / Lone Star Dr neighborhood in Odessa, TX, residents most commonly identify their ethnicity or ancestry as Mexican (70.1%). There are also a number of people of Scottish ancestry (8.5%), and residents who report Scots-Irish roots (7.4%), and some of the residents are also of German ancestry (2.8%), along with some Irish ancestry residents (2.4%), among others. In addition, 25.5% of the residents of this neighborhood were born in another country.
Getting to Work
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in SE Loop 338 E / Lone Star Dr neighborhood spend between 15 and 30 minutes commuting one-way to work (44.1% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (75.0%) 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 (12.3%) . 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.
