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.
Martin Luther King / The University of Tennessee Chattanooga median real estate price is $562,626, which is more expensive than 80.9% of the neighborhoods in Tennessee and 67.2% of the neighborhoods in the U.S.
The average rental price in Martin Luther King / The University of Tennessee Chattanooga is currently $2,122, based on Ä¢¹½ÊÓƵ's exclusive analysis. The average rental cost in this neighborhood is higher than 68.7% of the neighborhoods in Tennessee.
Martin Luther King / The University of Tennessee Chattanooga is a suburban neighborhood (based on population density) located in Chattanooga, Tennessee.
Martin Luther King / The University of Tennessee Chattanooga 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 Martin Luther King / The University of Tennessee Chattanooga neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 2000 and the present.
Vacant apartments or homes are a major fact of life in Martin Luther King / The University of Tennessee Chattanooga. The current real estate vacancy rate here is 18.1%. This is higher than the rate of vacancies in 85.0% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.
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
Ä¢¹½ÊÓƵ's analysis shows that the Martin Luther King / The University of Tennessee Chattanooga neighborhood has a greater concentration of residents currently enrolled in college than 99.4% of the neighborhoods in the U.S. With 59.7% of the population here attending college, this is very much a college-focused neighborhood.
In addition, one of the really interesting characteristics about the Martin Luther King / The University of Tennessee Chattanooga 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 0.8% of college-friendly places to live in the state of Tennessee.
Modes of Transportation
In the Martin Luther King / The University of Tennessee Chattanooga 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 17.1% of residents here. This is a higher proportion of walking commuters than we found in 97.7% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Real Estate
Renter-occupied real estate is dominant in the Martin Luther King / The University of Tennessee Chattanooga neighborhood. The percentage of rental real estate here, according to exclusive Ä¢¹½ÊÓƵ analysis, is 90.6%, which is higher than 97.0% 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.
In addition, one of the really unique and interesting things about the look and setting of the Martin Luther King / The University of Tennessee Chattanooga neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 72.3% 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 95.5% of all 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 Martin Luther King / The University of Tennessee Chattanooga neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.0% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Diversity
Did you know that the Martin Luther King / The University of Tennessee Chattanooga neighborhood has more Scottish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.9% of this neighborhood's residents have Scottish 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 Martin Luther King / The University of Tennessee Chattanooga neighborhood in Chattanooga are lower-middle income, making it a below average income neighborhood. Ä¢¹½ÊÓƵ's research shows that this neighborhood has an income lower than 61.6% of U.S. neighborhoods. With 21.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 71.2% 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 Martin Luther King / The University of Tennessee Chattanooga neighborhood, 40.0% 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 32.3% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (15.2%), and 12.5% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Martin Luther King / The University of Tennessee Chattanooga neighborhood is English, spoken by 94.0% of households. Some people also speak Spanish (3.6%).
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 Martin Luther King / The University of Tennessee Chattanooga neighborhood in Chattanooga, TN, residents most commonly identify their ethnicity or ancestry as German (10.3%). There are also a number of people of English ancestry (9.6%), and residents who report Irish roots (7.3%), and some of the residents are also of Scottish ancestry (6.9%), along with some Italian ancestry residents (4.2%), among others.
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 Martin Luther King / The University of Tennessee Chattanooga neighborhood spend under 15 minutes commuting one-way to work (47.3% of working residents), one of the shortest commutes across America.
Here most residents (67.9%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (17.1%) . 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.
