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.
Towne Park South median real estate price is $818,388, which is more expensive than 88.3% of the neighborhoods in Florida and 84.8% of the neighborhoods in the U.S.
The average rental price in Towne Park South is currently $6,011, based on Ä¢¹½ÊÓƵ's exclusive analysis. The average rental cost in this neighborhood is higher than 99.6% of the neighborhoods in Florida.
Towne Park South is a suburban neighborhood (based on population density) located in Lake Worth Beach, Florida.
Towne Park South real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Towne Park South neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1940 and 1969.
Home and apartment vacancy rates are 9.1% in Towne Park South. Ä¢¹½ÊÓƵ analysis shows that this rate is lower than 41.0% of the neighborhoods in the nation, approximately near the middle range for vacancies.
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 Lake Worth Beach, the Towne Park South neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
Of note is Ä¢¹½ÊÓƵ's research finding that the Towne Park South neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Towne Park South community truly stands out from the rest in this regard.
In addition, priests and therapists would like to think they know the secrets to a truly successful marriage, but according to Ä¢¹½ÊÓƵ's research, the folks of the Towne Park South neighborhood may actually hold the key. 73.3% of its residents are married, which is a higher percentage than is found in 98.4% of the neighborhoods in America.
Also, if you are planning to retire in Florida, this neighborhood should be on your must-see list. For many reasons, Towne Park South may be considered a retiree's dream neighborhood. According to Ä¢¹½ÊÓƵ's exclusive analysis and metrics, it's peaceful and quiet, has above average safety from crime compared to other neighborhoods in Florida, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood more retiree-friendly than 97.1% of neighborhoods in FL. If a Florida retirement is in your future, this neighborhood should be one of the places you visit. In addition to being an excellent choice for active retirees, this neighborhood is also a very good choice for highly educated executives, families with school-aged children and urban sophisticates.
Real Estate
If you like the look and ambience of new homes and newly built neighborhoods, you will love the Towne Park South neighborhood. A whopping 92.6% 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 99.1% 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.
Diversity
Did you know that the Towne Park South neighborhood has more Russian and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 9.0% of this neighborhood's residents have Russian ancestry and 3.5% have Eastern European ancestry.
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 Towne Park South neighborhood in Lake Worth Beach 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 88.6% of the neighborhoods in America. In addition, 0.0% 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 100.0% of America'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 Towne Park South neighborhood, 58.4% 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 23.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.6%), and 8.2% in manufacturing and laborer occupations.
Languages
The most common language spoken in the Towne Park South neighborhood is English, spoken by 90.9% of households. Some people also speak Spanish (7.6%).
Ethnicity / Ancestry
Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.
In the Towne Park South neighborhood in Lake Worth Beach, FL, residents most commonly identify their ethnicity or ancestry as Irish (9.5%). There are also a number of people of Russian ancestry (9.0%), and residents who report German roots (8.4%), and some of the residents are also of Polish ancestry (7.4%), along with some Italian ancestry residents (6.8%), among others. In addition, 10.7% 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 Towne Park South neighborhood spend between 30 and 45 minutes commuting one-way to work (34.3% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (64.8%) 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 (11.0%) . 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.
