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.
Steel Lake median real estate price is $711,395, which is more expensive than 53.1% of the neighborhoods in Washington and 74.5% of the neighborhoods in the U.S.
The average rental price in Steel Lake is currently $2,430, based on Ä¢¹½ÊÓƵ's exclusive analysis. Rents here are currently lower in price than 57.0% of Washington neighborhoods.
Steel Lake is an urban neighborhood (based on population density) located in Federal Way, Washington.
Steel Lake 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 Steel Lake neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
Real estate vacancies in Steel Lake are 3.9%, which is lower than one will find in 73.2% of American neighborhoods. Demand for real estate in Steel Lake 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
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by Ä¢¹½ÊÓƵ's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
Modes of Transportation
More people ride the bus in this neighborhood each day to get to work than 98.5% of U.S. neighborhoods.
Also, in the Steel Lake neighborhood, walking to work is a real option for many. In fact, Ä¢¹½ÊÓƵ's exclusive research reveals walking to and from work is the chosen way to commute for 10.5% of residents here. This is a higher proportion of walking commuters than we found in 95.2% of American neighborhoods. Get ready to put on your walking shoes if you move here!
People
Divorcees may find friendship and understanding in this neighborhood, as 19.6% of its residents are divorced. Ä¢¹½ÊÓƵ's exclusive analysis found that this divorce rate is higher than in 95.0% of the neighborhoods in America.
Diversity
Did you know that the Steel Lake neighborhood has more Sub-Saharan African and Ukrainian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 13.5% of this neighborhood's residents have Sub-Saharan African ancestry and 1.9% have Ukrainian ancestry.
Steel Lake is also pretty special linguistically. Significantly, 9.7% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 99.7% 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 Steel Lake neighborhood in Federal Way are lower-middle income, making it a below average income neighborhood. Ä¢¹½ÊÓƵ's research shows that this neighborhood has an income lower than 77.4% of U.S. neighborhoods. With 21.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 71.6% 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 Steel Lake neighborhood, 30.0% 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 25.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (23.9%), and 20.2% in executive, management, and professional 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 Steel Lake neighborhood is English, spoken by 40.1% of households. Other important languages spoken here include Spanish, African languages and Korean.
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 Steel Lake neighborhood in Federal Way, WA, residents most commonly identify their ethnicity or ancestry as Mexican (23.3%). There are also a number of people of Sub-Saharan African ancestry (13.5%), and residents who report Asian roots (7.4%), and some of the residents are also of English ancestry (7.3%), along with some German ancestry residents (4.5%), among others. In addition, 39.4% 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 Steel Lake neighborhood spend between 15 and 30 minutes commuting one-way to work (34.2% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (45.2%) 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 (21.7%) and 18.7% of residents also ride the bus for their daily commute. 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.
