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.
West Colfax median real estate price is $1,003,436, which is more expensive than 84.4% of the neighborhoods in Colorado and 88.7% of the neighborhoods in the U.S.
The average rental price in West Colfax is currently $3,230, based on Ä¢¹½ÊÓƵ's exclusive analysis. The average rental cost in this neighborhood is higher than 87.1% of the neighborhoods in Colorado.
West Colfax is a densely urban neighborhood (based on population density) located in Denver, Colorado.
West Colfax real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) townhomes and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the West Colfax neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.
Home and apartment vacancy rates are 7.3% in West Colfax. Ä¢¹½ÊÓƵ analysis shows that this rate is lower than 50.8% of the neighborhoods in the nation, approximately near the middle range for vacancies.
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.
Modes of Transportation
In the West Colfax neighborhood, many people's commute means walking from the bedroom to the home office. Ä¢¹½ÊÓƵ's analysis found that 42.6% 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 99.4% 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.
Real Estate
If you love row houses and attached homes, you will probably really like the West Colfax neighborhood. The ambiance, the charm, of row houses is something special. And in sheer abundance of row houses, this neighborhood truly stands out. The real estate here has a higher proportion of row houses and attached homes than nearly any neighborhood in America. In fact, 49.2% of the residential real estate here is classified as row houses and attached homes.
People
The West Colfax neighborhood has a greater percentage of children living in poverty (59.2%) than found in 96.8% 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.
In addition, if you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the West Colfax neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 96.6% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the West Colfax neighborhood.
Diversity
Did you know that the West Colfax neighborhood has more South American and Brazilian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 11.7% of this neighborhood's residents have South American ancestry and 1.2% have Brazilian ancestry.
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 West Colfax neighborhood in Denver are wealthy, making it among the 15% highest income neighborhoods in America. Ä¢¹½ÊÓƵ's exclusive analysis reveals that this neighborhood has a higher income than 91.9% of the neighborhoods in America. With 59.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 96.8% 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 West Colfax neighborhood, 53.9% 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 17.2% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (15.9%), and 12.9% 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 West Colfax neighborhood is English, spoken by 78.2% of households. Other important languages spoken here include Spanish, Italian and Chinese.
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 West Colfax neighborhood in Denver, CO, residents most commonly identify their ethnicity or ancestry as Mexican (19.7%). There are also a number of people of German ancestry (12.7%), and residents who report South American roots (11.7%), and some of the residents are also of Italian ancestry (9.4%), along with some English ancestry residents (8.7%), among others. In addition, 20.3% 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 West Colfax neighborhood spend between 15 and 30 minutes commuting one-way to work (44.9% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (46.7%) 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 (8.3%) . 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.
