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.
Melody Hills median real estate price is $212,572, which is less expensive than 68.6% of Texas neighborhoods and 78.0% of all U.S. neighborhoods.
The average rental price in Melody Hills is currently $1,685, based on Ä¢¹½ÊÓƵ's exclusive analysis. Rents here are currently lower in price than 55.2% of Texas neighborhoods.
Melody Hills is a rural neighborhood (based on population density) located in Fort Worth, Texas.
Melody Hills real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Melody Hills neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
Real estate vacancies in Melody Hills are 3.0%, which is lower than one will find in 79.1% of American neighborhoods. Demand for real estate in Melody Hills is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.
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 Worth, the Melody Hills neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
Ä¢¹½ÊÓƵ's exclusive research revealed that 96.9% of the adult residents in the Melody Hills neighborhood do not have a 4-year college degree, which is a lower rate of college graduated adults than found in 98.3% of the neighborhoods in America.
In addition, single parenting is hard. But you don't have to tell the Melody Hills neighborhood about it; they already know. 23.1% of this neighborhood's households are run by single mothers, which is a higher concentration than Ä¢¹½ÊÓƵ found in 98.3% of American neighborhoods. Further Ä¢¹½ÊÓƵ research showed strong statistical correlations among high rates of children living in single parent households, and neighborhood crime, particularly violent crime, neighborhood poverty, and, importantly, the percentage of low weight births and rates of infant mortality.
Modes of Transportation
Our research shows that more people carpool to work here in the Melody Hills (26.9%) than in 97.8% of the neighborhoods in America.
Occupations
More people work in manufacturing and as laborers here in the Melody Hills neighborhood than in 95.5% of the neighborhoods in America. Despite the loss of manufacturing jobs across the nation, this neighborhood remains a place where, compared to other parts of the country, you will find many laborers and manufacturers.
Diversity
Did you know that the Melody Hills neighborhood has more Mexican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 69.7% of this neighborhood's residents have Mexican ancestry.
Melody Hills is also pretty special linguistically. Significantly, 71.4% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 97.6% of all U.S. neighborhoods.
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 Melody Hills neighborhood in Fort Worth are lower-middle income, making it a below average income neighborhood. Ä¢¹½ÊÓƵ's research shows that this neighborhood has an income lower than 82.3% of U.S. neighborhoods. With 37.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 88.0% 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 Melody Hills neighborhood, 41.9% of the working population is employed in manufacturing and laborer 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 27.6% of the residents employed. Other residents here are employed in executive, management, and professional occupations (16.1%), and 14.4% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Melody Hills neighborhood is Spanish, spoken by 71.4% of households. Some people also speak English (28.0%).
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 Melody Hills neighborhood in Fort Worth, TX, residents most commonly identify their ethnicity or ancestry as Mexican (69.7%). There are also a number of people of German ancestry (1.7%), and residents who report English roots (1.6%), and some of the residents are also of Sub-Saharan African ancestry (1.2%), along with some Spanish ancestry residents (1.1%), among others. In addition, 24.4% of the residents of this neighborhood were born in another country.
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 Melody Hills neighborhood spend between 15 and 30 minutes commuting one-way to work (46.7% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (57.0%) 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 (26.9%) . 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.
