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Real Estate Prices & Overview

Borman Square Park median real estate price is $78,144, which is less expensive than 96.4% of Indiana neighborhoods and 97.5% of all U.S. neighborhoods.

The average rental price in Borman Square Park is currently $1,674, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 73.5% of the neighborhoods in Indiana.

Borman Square Park is a suburban neighborhood (based on population density) located in Gary, Indiana.

Borman Square Park real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Borman Square Park 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 1940 and 1969.

Vacant apartments or homes are a major fact of life in Borman Square Park. The current real estate vacancy rate here is 37.9%. This is higher than the rate of vacancies in 97.3% 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

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 NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

People

Whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the Borman Square Park neighborhood has more single mother households than 99.4% of the neighborhoods in the U.S. Often high concentrations of single mother homes can be a strong indicator of family and social issues such as poverty, high rates of school dropouts, crime, and other societal problems.

In addition, the Borman Square Park neighborhood stands out for having an average per capita income lower than 95.5% of the neighborhoods in the United States. The Borman Square Park neighborhood also has a greater percentage of children living in poverty (75.7%) than found in 99.1% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.

Modes of Transportation

If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 7.0% of residents in the Borman Square Park neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 99.2% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Real Estate

Vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 37.9% of the residential real estate vacant, the Borman Square Park neighborhood claims the distinction of having a higher vacancy rate than 97.3% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.

In addition, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 70.6% of the residential real estate in the Borman Square Park neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 98.7% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Diversity

Did you know that the Borman Square Park neighborhood has more Jamaican and African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 15.1% of this neighborhood's residents have Jamaican ancestry and 14.0% have African ancestry.

Migration / Stability

Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. In the Borman Square Park neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 98.5% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

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 Borman Square Park neighborhood in Gary are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 95.5% of U.S. neighborhoods. With 75.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 99.1% 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 Borman Square Park neighborhood, 33.1% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 31.0% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (17.0%), and 16.3% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Borman Square Park neighborhood is English, spoken by 97.6% of households.

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 Borman Square Park neighborhood in Gary, IN, residents most commonly identify their ethnicity or ancestry as Jamaican (15.1%). There are also a number of people of Sub-Saharan African ancestry (14.0%), and residents who report African roots (14.0%), and some of the residents are also of Puerto Rican ancestry (3.1%), along with some Mexican ancestry residents (2.2%), 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 Borman Square Park neighborhood spend between 15 and 30 minutes commuting one-way to work (37.9% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (80.9%) drive alone in a private automobile to get to work. In addition, quite a number also bicycle to get to work (7.0%) and 5.6% of residents also carpool with coworkers, friends, or neighbors 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.


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