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 1st Street / Edison Park Historic District median real estate price is $683,624, which is more expensive than 81.2% of the neighborhoods in Florida and 78.3% of the neighborhoods in the U.S.
The average rental price in West 1st Street / Edison Park Historic District is currently $1,837, based on Ä¢¹½ÊÓƵ's exclusive analysis. Rents here are currently lower in price than 80.7% of Florida neighborhoods.
West 1st Street / Edison Park Historic District is a suburban neighborhood (based on population density) located in Fort Myers, Florida. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
West 1st Street / Edison Park Historic District real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the West 1st Street / Edison Park Historic District neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
Vacant apartments or homes are a major fact of life in West 1st Street / Edison Park Historic District. The current real estate vacancy rate here is 18.8%. This is higher than the rate of vacancies in 86.0% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (12.6%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually 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 Fort Myers, the West 1st Street / Edison Park Historic District neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
Do you like a coastal setting? If so, this neighborhood may be to your liking. The West 1st Street / Edison Park Historic District neighborhood is on the ocean, a bay, or inlet. Often such coastal places have amenities and recreational activities on the waterfront that are attractive to residents and visitors alike. In addition to being coastal, West 1st Street / Edison Park Historic District is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.
In addition, one of the really unique and interesting things about the look and setting of the West 1st Street / Edison Park Historic District neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 81.8% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 97.0% of all neighborhoods in America.
Occupations
There are more people living in the West 1st Street / Edison Park Historic District neighborhood employed as sales and service workers (55.7%) than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.
Diversity
Did you know that the West 1st Street / Edison Park Historic District neighborhood has more Puerto Rican and Haitian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 8.5% of this neighborhood's residents have Puerto Rican ancestry and 1.7% have Haitian ancestry.
West 1st Street / Edison Park Historic District is also pretty special linguistically. Significantly, 2.1% of its residents five years old and above primarily speak German/Yiddish at home. While this may seem like a small percentage, it is higher than 96.6% of the neighborhoods in America.
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. Ä¢¹½ÊÓƵ's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the West 1st Street / Edison Park Historic District neighborhood in Fort Myers are lower-middle income, making it a below average income neighborhood. Ä¢¹½ÊÓƵ's research shows that this neighborhood has an income lower than 80.5% of U.S. neighborhoods. In addition, 7.6% 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 56.2% of America'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 1st Street / Edison Park Historic District neighborhood, 44.3% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 33.3% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (14.2%), and 8.1% 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 1st Street / Edison Park Historic District neighborhood is English, spoken by 89.5% of households. Other important languages spoken here include French and German/Yiddish.
Ethnicity / Ancestry
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the West 1st Street / Edison Park Historic District neighborhood in Fort Myers, FL, residents most commonly identify their ethnicity or ancestry as German (13.1%). There are also a number of people of English ancestry (8.8%), and residents who report Puerto Rican roots (8.5%), and some of the residents are also of Irish ancestry (7.6%), along with some Italian ancestry residents (5.9%), 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 West 1st Street / Edison Park Historic District neighborhood spend between 15 and 30 minutes commuting one-way to work (43.4% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (79.3%) drive alone in a private automobile to get to work. 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.
