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.
South Milledge / Riverbend Research median real estate price is $497,679, which is more expensive than 75.5% of the neighborhoods in Georgia and 65.1% of the neighborhoods in the U.S.
The average rental price in South Milledge / Riverbend Research is currently $1,930, based on Ä¢¹½ÊÓƵ's exclusive analysis. Rents here are currently lower in price than 55.7% of Georgia neighborhoods.
South Milledge / Riverbend Research is a rural neighborhood (based on population density) located in Athens, Georgia.
South Milledge / Riverbend Research 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 renter occupied. Many of the residences in the South Milledge / Riverbend Research neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
In South Milledge / Riverbend Research, the current vacancy rate is 2.9%, which is a lower rate of vacancies than 80.0% of all neighborhoods in the U.S. This means that the housing supply in South Milledge / Riverbend Research is very tight compared to the demand for property here.
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 Athens, the South Milledge / Riverbend Research neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
Ä¢¹½ÊÓƵ's analysis shows that the South Milledge / Riverbend Research neighborhood has a greater concentration of residents currently enrolled in college than 99.2% of the neighborhoods in the U.S. With 49.4% of the population here attending college, this is very much a college-focused neighborhood.
In addition, the South Milledge / Riverbend Research neighborhood stands out for having an average per capita income lower than 96.5% of the neighborhoods in the United States. The South Milledge / Riverbend Research neighborhood also has a greater percentage of children living in poverty (58.2%) than found in 96.6% 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
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 South Milledge / Riverbend Research neighborhood stands apart from most American neighborhood due to the proportion of its residents still working in these fields. With 6.7% of the workforce so employed, this neighborhood has a greater concentration of such workers than 98.2% of U.S. neighborhoods.
Real Estate
Renter-occupied real estate is dominant in the South Milledge / Riverbend Research neighborhood. The percentage of rental real estate here, according to exclusive Ä¢¹½ÊÓƵ analysis, is 93.9%, which is higher than 97.8% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the South Milledge / Riverbend Research neighborhood buck this trend. Residents of this neighborhood must really love automobiles. Ä¢¹½ÊÓƵ's Analysis reveals that 35.4% of the households here have four, five, or more cars. That is more cars per household than in 96.4% of the neighborhoods in the nation.
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 South Milledge / Riverbend Research neighborhood. In the South Milledge / Riverbend Research neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.5% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Diversity
Did you know that the South Milledge / Riverbend Research neighborhood has more Haitian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.6% of this neighborhood's residents have Haitian ancestry.
South Milledge / Riverbend Research is also pretty special linguistically. Significantly, 1.2% 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 98.2% 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 South Milledge / Riverbend Research neighborhood in Athens 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 96.5% of U.S. neighborhoods. With 58.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 96.6% 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 South Milledge / Riverbend Research neighborhood, 37.6% 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 27.9% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (21.4%), and 6.7% in farming, forestry, or commercial fishing.
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 South Milledge / Riverbend Research neighborhood is English, spoken by 93.0% of households. Other important languages spoken here include Langs. of India and French.
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 South Milledge / Riverbend Research neighborhood in Athens, GA, residents most commonly identify their ethnicity or ancestry as Irish (10.0%). There are also a number of people of German ancestry (9.2%), and residents who report English roots (8.4%), and some of the residents are also of Italian ancestry (4.4%), along with some Asian ancestry residents (3.5%), among others.
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 South Milledge / Riverbend Research neighborhood spend under 15 minutes commuting one-way to work (53.5% of working residents), one of the shortest commutes across America.
Here most residents (80.1%) 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 (7.3%) . 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.
