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.
Spout Springs median real estate price is $436,507, which is more expensive than 67.4% of the neighborhoods in North Carolina and 56.4% of the neighborhoods in the U.S.
The average rental price in Spout Springs is currently $2,756, based on Ä¢¹½ÊÓƵ's exclusive analysis. The average rental cost in this neighborhood is higher than 87.9% of the neighborhoods in North Carolina.
Spout Springs is a rural neighborhood (based on population density) located in Sanford, North Carolina.
Spout Springs real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Spout Springs neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
Home and apartment vacancy rates are 7.9% in Spout Springs. Ä¢¹½ÊÓƵ analysis shows that this rate is lower than 47.1% 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.
Occupations
The Spout Springs neighborhood stands out nationally for having a greater proportion of its residents active in the military than 99.7% of other U.S. neighborhoods. If you come here, you will notice military people active in their jobs, going to and from work, and in plain clothes out and about the neighborhood.
Furthermore, the government often provides some of the more stable jobs in the economy. From local, to state, to federal government workers, the government can also be a major employer. What Ä¢¹½ÊÓƵ's analysis revealed, is that the Spout Springs neighborhood in particular stands out when compared nationally for the proportion of its working residents who are employed by the government. At 14.4% of its workforce, this neighborhood has a greater concentration of government workers than 96.7% of U.S. neighborhoods.
Real Estate
Homes built from 2000 through today make up a higher proportion of the Spout Springs neighborhood's real estate landscape than 95.1% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 68.1% of the residential real estate here is classified as newer.
Diversity
Did you know that the Spout Springs neighborhood has more Cuban and Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.1% of this neighborhood's residents have Cuban ancestry and 2.0% have Greek ancestry.
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 Spout Springs neighborhood in Sanford are upper-middle income, making it an above average income neighborhood. Ä¢¹½ÊÓƵ's exclusive analysis reveals that this neighborhood has a higher income than 63.0% of the neighborhoods in America. In addition, 8.6% 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 53.4% of America'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 Spout Springs neighborhood, 56.8% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is the military, with 17.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (16.0%), and 14.6% in manufacturing and laborer occupations.
Languages
The most common language spoken in the Spout Springs neighborhood is English, spoken by 90.3% of households. Some people also speak Spanish (7.1%).
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 Spout Springs neighborhood in Sanford, NC, residents most commonly identify their ethnicity or ancestry as German (14.4%). There are also a number of people of Irish ancestry (8.5%), and residents who report English roots (8.1%), and some of the residents are also of Puerto Rican ancestry (7.2%), along with some Italian ancestry residents (4.1%), 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 Spout Springs neighborhood spend between 30 and 45 minutes commuting one-way to work (36.7% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (80.3%) 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 (8.0%) . 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.
