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.
Barr Rd / Montrose Dr median real estate price is $417,701, which is more expensive than 76.8% of the neighborhoods in South Carolina and 56.2% of the neighborhoods in the U.S.
The average rental price in Barr Rd / Montrose Dr is currently $2,296, based on Ä¢¹½ÊÓƵ's exclusive analysis. The average rental cost in this neighborhood is higher than 79.5% of the neighborhoods in South Carolina.
Barr Rd / Montrose Dr is a suburban neighborhood (based on population density) located in Lexington, South Carolina.
Barr Rd / Montrose Dr real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Barr Rd / Montrose Dr neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
In Barr Rd / Montrose Dr, the current vacancy rate is 1.8%, which is a lower rate of vacancies than 87.2% of all neighborhoods in the U.S. This means that the housing supply in Barr Rd / Montrose Dr 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 Lexington, the Barr Rd / Montrose Dr neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
Owner-occupied real estate dominates the Barr Rd / Montrose Dr neighborhood. In fact, according to Ä¢¹½ÊÓƵ research, the percentage of residential real estate occupied by its owner is higher here than in 99.6% of neighborhoods in America.
In addition, if you like the look and ambience of new homes and newly built neighborhoods, you will love the Barr Rd / Montrose Dr neighborhood. A whopping 92.2% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 99.0% of the neighborhoods in the U.S. Everything here just feels new. In fact, the concentration of newer homes here is so great that they completely dominate the landscape. In most neighborhoods, there is a mixture of ages of residential real estate, but here it is almost completely built during one time frame: 2000 through today.
Furthermore, one way that the Barr Rd / Montrose Dr neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 96.7% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.
People
According to Ä¢¹½ÊÓƵ's exclusive analysis, Barr Rd / Montrose Dr is among the best neighborhoods for families in South Carolina. In fact, this neighborhood is more family-friendly than 99.2% of neighborhoods in the entire state of South Carolina. Its combination of top public schools, low crime rates, and owner-occupied single family homes gives this area the look and feel of a "Leave It to Beaver" episode. Many other families also live here, making it easy to socialize and develop a strong sense of community. In addition, the high number of college-educated parents influences the academic success of the local schools. Overall, you will find all of the amenities a family needs to thrive in the Barr Rd / Montrose Dr neighborhood. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for college students and highly educated executives.
Occupations
With 5.3% of employed workers living in the Barr Rd / Montrose Dr neighborhood active in the military, this neighborhood has the distinction of having a higher proportion of people in the military than 98.8% of American neighborhoods. This is a major shaper of the neighborhood's culture and character.
Car Ownership
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But Ä¢¹½ÊÓƵ's analysis revealed that households in the Barr Rd / Montrose Dr neighborhood have a highly unusual car ownership. Residents of this neighborhood must really love automobiles. Ä¢¹½ÊÓƵ's Analysis reveals that 38.1% of the households here have four, five, or more cars. That is more cars per household than in 97.5% of the neighborhoods in the nation.
Diversity
Did you know that the Barr Rd / Montrose Dr neighborhood has more Danish and Austrian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 10.9% of this neighborhood's residents have Danish ancestry and 1.2% have Austrian ancestry.
Barr Rd / Montrose Dr is also pretty special linguistically. Significantly, 1.1% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 96.4% of the neighborhoods in America.
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 Barr Rd / Montrose Dr neighborhood in Lexington 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 89.4% of the neighborhoods in America. In addition, 3.4% 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 69.6% of America's neighborhoods.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the Barr Rd / Montrose Dr neighborhood, 54.4% 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 29.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (7.9%), and 7.7% in manufacturing and laborer occupations.
Languages
The most common language spoken in the Barr Rd / Montrose Dr neighborhood is English, spoken by 87.7% of households. Some people also speak Spanish (7.2%).
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 Barr Rd / Montrose Dr neighborhood in Lexington, SC, residents most commonly identify their ethnicity or ancestry as German (23.9%). There are also a number of people of Danish ancestry (10.9%), and residents who report English roots (9.5%), and some of the residents are also of Irish ancestry (6.8%), along with some South American ancestry residents (5.8%), 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 Barr Rd / Montrose Dr neighborhood spend between 15 and 30 minutes commuting one-way to work (48.1% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (72.1%) 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 (10.6%) . 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.
