What do we mean by a neighborhood?
NeighborhoodScout® 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. NeighborhoodScout 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.
Median real estate price in the Village Center of Prescott is $97,972, which is less expensive than 88.8% of Michigan neighborhoods and 94.2% of all U.S. neighborhoods.
The average rental price in Prescott Village Center is currently $1,329, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 78.9% of Michigan neighborhoods.
Prescott Village Center is a remote neighborhood (based on population density) located in Prescott, Michigan.
Real estate in the Village Center of Prescott, MI is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Village Center neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
Vacant apartments or homes are a major fact of life in Prescott Village Center. The current real estate vacancy rate here is 47.1%. This is higher than the rate of vacancies in 98.4% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (38.0%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.
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 Prescott, the Village Center neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Length of Commute
Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The Prescott Village Center neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the Prescott Village Center neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 16.5% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 99.0% of all neighborhoods in America.
Real Estate
Despite all of the residential real estate here in the Prescott Village Center neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 47.1%, which is higher than 98.4% of all U.S. neighborhoods.
People
Astoundingly, the Village Center neighborhood has one of the highest concentrations of divorcees living here than of any neighborhood, a higher concentration than NeighborhoodScout found in 97.4% of U.S. neighborhoods. This may be because people living here divorce more often than others, or that divorced people move here after they become divorced. If you are divorced, you will be in good company in this particular Prescott neighborhood.
In addition, neighborhoodScout's exclusive research revealed that 93.7% of the adult residents in the Prescott Village Center neighborhood do not have a 4-year college degree, which is a lower rate of college graduated adults than found in 95.9% of the neighborhoods in America.
Diversity
Did you know that the Prescott Village Center neighborhood has more Polish and Finnish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 14.2% of this neighborhood's residents have Polish ancestry and 1.1% have Finnish ancestry.
Prescott Village Center is also pretty special linguistically. Significantly, 1.1% of its residents five years old and above primarily speak Greek at home. While this may seem like a small percentage, it is higher than 97.3% of the neighborhoods in America.
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 Village Center neighborhood in Prescott are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 88.1% of U.S. neighborhoods. With 52.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 95.0% 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 Prescott Village Center neighborhood, 27.7% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 27.5% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (24.5%), and 20.3% in executive, management, and professional 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 Prescott Village Center neighborhood is English, spoken by 99.9% of households. Other important languages spoken here include Polish and Italian.
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 Village Center neighborhood in Prescott, MI, residents most commonly identify their ethnicity or ancestry as German (19.9%). There are also a number of people of Polish ancestry (14.2%), and residents who report English roots (10.0%), and some of the residents are also of Irish ancestry (7.9%), along with some French ancestry residents (4.2%), 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 Prescott Village Center neighborhood spend between 30 and 45 minutes commuting one-way to work (25.5% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods. However, there is also a significant group of residents (16.5%) who commute over an hour in each direction.
Here most residents (77.2%) 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 (6.7%) . 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.
