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.
Pier Point median real estate price is $1,086,943, which is more expensive than 93.7% of the neighborhoods in Florida and 91.2% of the neighborhoods in the U.S.
The average rental price in Pier Point is currently $2,466, based on Ä¢¹½ÊÓƵ's exclusive analysis. Rents here are currently lower in price than 52.3% of Florida neighborhoods.
Pier Point is an urban neighborhood (based on population density) located in Jacksonville Beach, Florida. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Pier Point 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 small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Pier Point 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 Pier Point. The current real estate vacancy rate here is 27.9%. This is higher than the rate of vacancies in 94.1% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (18.3%). 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 Jacksonville Beach, the Pier Point neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
Pier Point is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, Pier Point 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.
People
The rate of college educated adults in the Pier Point neighborhood is a unique characteristic of the neighborhood. 82.8% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 35.0% of the adults with a bachelor's degree. The rate here is higher than Ä¢¹½ÊÓƵ found in 98.5% of all U.S. neighborhoods.
In addition, one of the most interesting things about the Pier Point neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 54.0% of the households here made up of people living alone, Ä¢¹½ÊÓƵ's research reveals that this is a larger proportion of people living alone than in 97.2% of the neighborhoods in America.
Also, the Pier Point neighborhood has a greater percentage of children living in poverty (56.4%) than found in 96.1% 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.
Occupations
The government often provides some of the more stable jobs in the economy. From local, to state, to federal government workers, the government can also be a major employer. What Ä¢¹½ÊÓƵ's analysis revealed, is that the Pier Point neighborhood in particular stands out when compared nationally for the proportion of its working residents who are employed by the government. At 16.2% of its workforce, this neighborhood has a greater concentration of government workers than 97.9% of U.S. neighborhoods.
Furthermore, executives, managers and professionals make up 72.8% of the workforce in the Pier Point neighborhood which, according to Ä¢¹½ÊÓƵ's exclusive analysis, is a higher proportion of such high-level people than is found in 96.5% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Diversity
Did you know that the Pier Point neighborhood has more Scottish and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.0% of this neighborhood's residents have Scottish ancestry and 4.1% have Russian 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 Pier Point neighborhood in Jacksonville Beach 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 92.9% of the neighborhoods in America. With 56.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 96.1% of U.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 Pier Point neighborhood, 72.8% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 17.2% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (16.2%), and 7.1% in sales and service jobs, from major sales accounts, to working in fast food restaurants.
Languages
The most common language spoken in the Pier Point neighborhood is English, spoken by 88.8% of households. Some people also speak French (2.6%).
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 Pier Point neighborhood in Jacksonville Beach, FL, residents most commonly identify their ethnicity or ancestry as Irish (23.3%). There are also a number of people of German ancestry (14.1%), and residents who report Italian roots (13.1%), and some of the residents are also of English ancestry (12.1%), along with some Scottish ancestry residents (6.0%), among others. In addition, 10.7% 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 Pier Point neighborhood spend under 15 minutes commuting one-way to work (33.4% of working residents), one of the shortest commutes across America.
Here most residents (56.1%) 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 (12.0%) . 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.
