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.
S Grand Ave / W 45th St median real estate price is $980,930, which is more expensive than 56.0% of the neighborhoods in California and 88.6% of the neighborhoods in the U.S.
The average rental price in S Grand Ave / W 45th St is currently $2,278, based on Ä¢¹½ÊÓƵ's exclusive analysis. Rents here are currently lower in price than 83.4% of California neighborhoods.
S Grand Ave / W 45th St is a densely urban neighborhood (based on population density) located in Los Angeles, California.
S Grand Ave / W 45th St real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the S Grand Ave / W 45th St neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1970 and 1999.
In S Grand Ave / W 45th St, the current vacancy rate is 2.6%, which is a lower rate of vacancies than 81.7% of all neighborhoods in the U.S. This means that the housing supply in S Grand Ave / W 45th St 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 Ä¢¹½ÊÓƵ's exclusive exploration and analysis.
People
Whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. Ä¢¹½ÊÓƵ's exclusive analysis reveals that the S Grand Ave / W 45th St neighborhood has more single mother households than 99.5% of the neighborhoods in the U.S. Often high concentrations of single mother homes can be a strong indicator of family and social issues such as poverty, high rates of school dropouts, crime, and other societal problems.
In addition, one of the unique characteristics of the S Grand Ave / W 45th St neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 95.5% of the neighborhoods in America. The S Grand Ave / W 45th St neighborhood also has a greater percentage of children living in poverty (70.5%) than found in 98.7% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.
Also, the S Grand Ave / W 45th St neighborhood is unique for having just 5.4% of adults here having earned a bachelor's degree. This is a lower rate of college graduates than Ä¢¹½ÊÓƵ found in 97.0% of America's neighborhoods.
Modes of Transportation
If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 6.2% of residents in the S Grand Ave / W 45th St neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 98.9% of all neighborhoods in the U.S., according to Ä¢¹½ÊÓƵ's exclusive analysis.
Also, more people ride the bus in this neighborhood each day to get to work than 97.7% of U.S. neighborhoods.
Real Estate
If you like crowded places, then you will probably enjoy the the S Grand Ave / W 45th St neighborhood. According to Ä¢¹½ÊÓƵ's exclusive data analysis, this neighborhood is more densely populated than 96.1% of neighborhoods in the U.S., with 25,302 people per square mile living here. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The S Grand Ave / W 45th St neighborhood is among the top 5% of American neighborhoods in terms of walkability.
Occupations
It used to be that most Americans lived on the farm, or otherwise made their living from the land, the forests, or the sea. With global trade and an economy increasingly based on providing services to one another, fewer people farm, fish or harvest timber now than at any time in American history. But according to Ä¢¹½ÊÓƵ's leading analysis, the S Grand Ave / W 45th St neighborhood stands apart from most American neighborhood due to the proportion of its residents still working in these fields. With 5.3% of the workforce so employed, this neighborhood has a greater concentration of such workers than 97.3% of U.S. neighborhoods.
Migration / Stability
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. Ä¢¹½ÊÓƵ's research has revealed some interesting things about the rootedness of people in the S Grand Ave / W 45th St neighborhood. More residents of the S Grand Ave / W 45th St neighborhood live here today that also were living in this same neighborhood five years ago than is found in 97.5% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while.
Diversity
Did you know that the S Grand Ave / W 45th St neighborhood has more Mexican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 67.8% of this neighborhood's residents have Mexican ancestry.
S Grand Ave / W 45th St is also pretty special linguistically. Significantly, 86.5% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 99.3% of all U.S. neighborhoods.
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 S Grand Ave / W 45th St neighborhood in Los Angeles are low income, making it among the lowest income neighborhoods in America. Ä¢¹½ÊÓƵ's research shows that this neighborhood has an income lower than 95.5% of U.S. neighborhoods. With 70.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 98.7% 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 S Grand Ave / W 45th St neighborhood, 39.8% of the working population is employed in manufacturing and laborer 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 30.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (15.3%), and 9.4% in executive, management, and professional occupations.
Languages
The most common language spoken in the S Grand Ave / W 45th St neighborhood is Spanish, spoken by 86.5% of households. Some people also speak English (13.2%).
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 S Grand Ave / W 45th St neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Mexican (67.8%). There are also a number of people of Sub-Saharan African ancestry (1.2%), and residents who report English roots (1.2%). In addition, 41.6% 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 S Grand Ave / W 45th St neighborhood spend between 30 and 45 minutes commuting one-way to work (34.3% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (52.7%) 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 (18.4%) and 15.5% of residents also ride the bus for their daily commute. 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.
