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.
Newberry Towne / Stevens Hollow median real estate price is $333,392, which is less expensive than 64.4% of Virginia neighborhoods and 54.8% of all U.S. neighborhoods.
The average rental price in Newberry Towne / Stevens Hollow is currently $2,166, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 54.4% of Virginia neighborhoods.
Newberry Towne / Stevens Hollow is a suburban neighborhood (based on population density) located in Richmond, Virginia.
Newberry Towne / Stevens Hollow real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and townhomes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Newberry Towne / Stevens Hollow neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.
Newberry Towne / Stevens Hollow has a 9.9% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 61.3% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
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 Richmond, the Newberry Towne / Stevens Hollow neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
For many reasons, Newberry Towne / Stevens Hollow is rated by NeighborhoodScout as one of the top 1.4% of ideal neighborhoods for first-time home buyers in the state of Virginia. Homes here are priced below median housing values in the state, yet the neighborhood has a track record according to NeighborhoodScout's exclusive neighborhood home appreciation rates of above average real estate appreciation over the last five years compared to other VA neighborhoods, protecting your investment in your first home, while simultaneously making it less risky for your lender. Not only does this neighborhood stand out for combining price and home value stability or increases, it also is a neighborhood with a high quality resident population according exclusive data, meaning this is likely a good place to buy, live, and enjoy. While many first time home buyers focus purely on low cost and convenient location, which can risk your investment in your first home and put you in a less than desirable neighborhood, this neighborhood is a true standout for a lot of reasons, and definitely worth a look if you are a first time home buyer.
Modes of Transportation
Our research shows that more people carpool to work here in the Newberry Towne / Stevens Hollow (24.5%) than in 96.8% of the neighborhoods in America.
Real Estate
Many people dream of living along a street lined with row houses or other attached homes. Such places do often have an abundance of charm. If you are one of these people, the Newberry Towne / Stevens Hollow neighborhood could be your paradise. With 28.7% of the homes and real estate here classified as rowhouses or other attached homes, this neighborhood brims with opportunity to find the right place for you. Only 3.5% of U.S. neighborhoods have more row houses than this neighborhood, making it one of the most interesting things about this special neighborhood.
Diversity
Did you know that the Newberry Towne / Stevens Hollow neighborhood has more African and Sub-Saharan African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 13.2% of this neighborhood's residents have African ancestry and 13.2% have Sub-Saharan African ancestry.
Newberry Towne / Stevens Hollow is also pretty special linguistically. Significantly, 6.3% of its residents five years old and above primarily speak French at home. While this may seem like a small percentage, it is higher than 98.2% 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 Newberry Towne / Stevens Hollow neighborhood in Richmond are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 69.5% of U.S. neighborhoods. With 22.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 71.8% of U.S. neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the Newberry Towne / Stevens Hollow neighborhood, 31.1% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 27.0% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (25.2%), and 16.7% 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 Newberry Towne / Stevens Hollow neighborhood is English, spoken by 63.2% of households. Other important languages spoken here include Spanish, French and Italian.
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 Newberry Towne / Stevens Hollow neighborhood in Richmond, VA, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (13.2%). There are also a number of people of African ancestry (13.2%), and residents who report English roots (7.5%), and some of the residents are also of Dominican ancestry (4.1%), along with some Italian ancestry residents (2.8%), among others. In addition, 33.3% 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 Newberry Towne / Stevens Hollow neighborhood spend between 15 and 30 minutes commuting one-way to work (62.5% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (53.2%) 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 (24.5%) . 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.
