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.
N Lake Dr / E Ivanhoe Pl median real estate price is $399,707, which is more expensive than 46.3% of the neighborhoods in Wisconsin and 42.1% of the neighborhoods in the U.S.
The average rental price in N Lake Dr / E Ivanhoe Pl is currently $1,800, based on Ä¢¹½ÊÓƵ's exclusive analysis. The average rental cost in this neighborhood is higher than 82.7% of the neighborhoods in Wisconsin.
N Lake Dr / E Ivanhoe Pl is a densely urban neighborhood (based on population density) located in Milwaukee, Wisconsin.
N Lake Dr / E Ivanhoe Pl 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 renter occupied. Many of the residences in the N Lake Dr / E Ivanhoe Pl neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.
Home and apartment vacancy rates are 6.5% in N Lake Dr / E Ivanhoe Pl. Ä¢¹½ÊÓƵ analysis shows that this rate is lower than 55.7% of the neighborhoods in the nation, approximately near the middle range for vacancies.
Notable & Unique Neighborhood Characteristics
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to Ä¢¹½ÊÓƵ's exclusive exploration and analysis.
People
One of the most interesting things about the N Lake Dr / E Ivanhoe Pl neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 64.9% 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 99.4% of the neighborhoods in America.
In addition, one of the really interesting characteristics about the N Lake Dr / E Ivanhoe Pl neighborhood is that, according to Ä¢¹½ÊÓƵ's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 3.3% of college-friendly places to live in the state of Wisconsin. In addition to being an excellent choice for college students, this neighborhood is also a very good choice for young, single professionals.
Real Estate
One of the really unique and interesting things about the look and setting of the N Lake Dr / E Ivanhoe Pl neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 86.8% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 97.7% of all neighborhoods in America.
In addition, the N Lake Dr / E Ivanhoe Pl neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 88.7% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
Furthermore, if you like crowded places, then you will probably enjoy the the N Lake Dr / E Ivanhoe Pl neighborhood. According to Ä¢¹½ÊÓƵ's exclusive data analysis, this neighborhood is more densely populated than 96.6% of neighborhoods in the U.S., with 28,073 people per square mile living here. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The N Lake Dr / E Ivanhoe Pl neighborhood is among the top 5% of American neighborhoods in terms of walkability.
Also of note, renter-occupied real estate is dominant in the N Lake Dr / E Ivanhoe Pl neighborhood. The percentage of rental real estate here, according to exclusive Ä¢¹½ÊÓƵ analysis, is 84.6%, which is higher than 95.2% 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.
Diversity
Did you know that the N Lake Dr / E Ivanhoe Pl neighborhood has more Greek and Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 7.9% of this neighborhood's residents have Greek ancestry and 3.8% have Armenian ancestry.
N Lake Dr / E Ivanhoe Pl is also pretty special linguistically. Significantly, 7.2% of its residents five years old and above primarily speak Polish at home. While this may seem like a small percentage, it is higher than 96.3% of the neighborhoods in America.
Migration / Stability
The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. Ä¢¹½ÊÓƵ's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the N Lake Dr / E Ivanhoe Pl neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 96.8% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 N Lake Dr / E Ivanhoe Pl neighborhood in Milwaukee are lower-middle income, making it a below average income neighborhood. Ä¢¹½ÊÓƵ's research shows that this neighborhood has an income lower than 71.4% of U.S. neighborhoods. With 24.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 75.7% of U.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 N Lake Dr / E Ivanhoe Pl neighborhood, 68.7% 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 19.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (5.8%), and 5.6% in manufacturing and laborer 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 N Lake Dr / E Ivanhoe Pl neighborhood is English, spoken by 90.6% of households. Other important languages spoken here include Polish and Spanish.
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 N Lake Dr / E Ivanhoe Pl neighborhood in Milwaukee, WI, residents most commonly identify their ethnicity or ancestry as German (33.5%). There are also a number of people of Irish ancestry (20.0%), and residents who report English roots (9.0%), and some of the residents are also of Greek ancestry (7.9%), along with some Polish ancestry residents (5.9%), 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 N Lake Dr / E Ivanhoe Pl neighborhood spend between 15 and 30 minutes commuting one-way to work (53.3% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (57.4%) 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 (7.6%) . 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.
