What do we mean by a neighborhood?
Ä¢¹½ÊÓƵ® 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. Ä¢¹½ÊÓƵ 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.
Gainey Ranch / McCormick Ranch median real estate price is $1,066,218, which is more expensive than 96.3% of the neighborhoods in Arizona and 91.5% of the neighborhoods in the U.S.
The average rental price in Gainey Ranch / McCormick Ranch is currently $3,764, based on Ä¢¹½ÊÓƵ's exclusive analysis. The average rental cost in this neighborhood is higher than 94.1% of the neighborhoods in Arizona.
Gainey Ranch / McCormick Ranch is a suburban neighborhood (based on population density) located in Scottsdale, Arizona.
Gainey Ranch / McCormick Ranch 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 owner occupied. Many of the residences in the Gainey Ranch / McCormick Ranch 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.
Gainey Ranch / McCormick Ranch has a 11.2% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 67.9% of American neighborhoods). A relatively large percentage of housing here is seasonally occupied (8.8%), which can occur in some markets dominated by colleges or vacation homes. If you live here year round, you will find many of the homes or apartments are empty for all or a portion of the year.
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 Ä¢¹½ÊÓƵ's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
People
Of note is Ä¢¹½ÊÓƵ's research finding that the Gainey Ranch / McCormick Ranch 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 Gainey Ranch / McCormick Ranch community truly stands out from the rest in this regard.
In addition, if you are planning to retire in Arizona, this neighborhood should be on your must-see list. For many reasons, Gainey Ranch / McCormick Ranch may be considered a retiree's dream neighborhood. According to Ä¢¹½ÊÓƵ's exclusive analysis and metrics, it's peaceful and quiet, has above average safety from crime compared to other neighborhoods in Arizona, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood more retiree-friendly than 96.7% of neighborhoods in AZ. If a Arizona retirement is in your future, this neighborhood should be one of the places you visit. In addition to being an excellent choice for active retirees, this neighborhood is also a very good choice for highly educated executives.
Real Estate
Most neighborhoods are composed of a mixture of ages of homes, but the Gainey Ranch / McCormick Ranch stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 92.8% of the residential real estate here was built in this one time period.
Modes of Transportation
In the Gainey Ranch / McCormick Ranch neighborhood, many people's commute means walking from the bedroom to the home office. Ä¢¹½ÊÓƵ's analysis found that 31.4% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 95.7% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
Diversity
Did you know that the Gainey Ranch / McCormick Ranch neighborhood has more Swiss and Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.3% of this neighborhood's residents have Swiss ancestry and 1.7% have Iranian ancestry.
Gainey Ranch / McCormick Ranch is also pretty special linguistically. Significantly, 1.8% of its residents five years old and above primarily speak Persian 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 Gainey Ranch / McCormick Ranch neighborhood in Scottsdale are upper-middle income, making it an above average income neighborhood. Ä¢¹½ÊÓƵ's exclusive analysis reveals that this neighborhood has a higher income than 78.0% 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 Gainey Ranch / McCormick Ranch neighborhood, 66.5% 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 22.5% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (7.1%), and 5.6% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Gainey Ranch / McCormick Ranch neighborhood is English, spoken by 92.8% of households. Some people also speak Spanish (7.2%).
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 Gainey Ranch / McCormick Ranch neighborhood in Scottsdale, AZ, residents most commonly identify their ethnicity or ancestry as German (17.1%). There are also a number of people of English ancestry (13.7%), and residents who report Irish roots (10.4%), and some of the residents are also of Polish ancestry (8.9%), along with some Mexican ancestry residents (6.2%), among others.
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 Gainey Ranch / McCormick Ranch neighborhood spend between 15 and 30 minutes commuting one-way to work (57.4% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (52.3%) 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 (11.4%) . 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.
