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.
Tampico median real estate price is $565,832, which is more expensive than 91.3% of the neighborhoods in New Mexico and 72.1% of the neighborhoods in the U.S.
The average rental price in Tampico is currently $3,088, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 98.2% of the neighborhoods in New Mexico.
Tampico is a rural neighborhood (based on population density) located in Rio Rancho, New Mexico.
Tampico real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Tampico neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
In Tampico, the current vacancy rate is 2.3%, which is a lower rate of vacancies than 84.8% of all neighborhoods in the U.S. This means that the housing supply in Tampico is very tight compared to the demand for property here.
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 Rio Rancho, the Tampico neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
According to NeighborhoodScout's exclusive analysis, Tampico is among the best neighborhoods for families in New Mexico. In fact, this neighborhood is more family-friendly than 99.3% of neighborhoods in the entire state of New Mexico. Its combination of top public schools, low crime rates, and owner-occupied single family homes gives this area the look and feel of a "Leave It to Beaver" episode. Many other families also live here, making it easy to socialize and develop a strong sense of community. In addition, the high number of college-educated parents influences the academic success of the local schools. Overall, you will find all of the amenities a family needs to thrive in the Tampico neighborhood. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for highly educated executives.
Real Estate
Homes built from 2000 through today make up a higher proportion of the Tampico neighborhood's real estate landscape than 99.2% 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, 93.5% of the residential real estate here is classified as newer. 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.
In addition, owner-occupied real estate dominates the Tampico neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 99.1% of neighborhoods in America.
Furthermore, some neighborhoods are made up of apartments. Some consist of row houses, and most - by far - consist of a mixture of housing types. But the Tampico neighborhood stands out due to the total dominance of detached, single-family homes here. There are nearly no other types of residential real estate in the neighborhood. In fact, this neighborhood has a higher proportion of single-family homes in its real estate stock than 98.7% of all American neighborhoods.
Diversity
Did you know that the Tampico neighborhood has more Danish and Native American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.7% of this neighborhood's residents have Danish ancestry and 3.1% have Native American 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. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the Tampico neighborhood in Rio Rancho are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 82.9% of the neighborhoods in America. In addition, 2.4% 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 73.8% of America's neighborhoods.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the Tampico neighborhood, 50.9% 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 18.7% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (18.7%), and 11.7% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Tampico neighborhood is English, spoken by 87.3% of households. Some people also speak Spanish (10.0%).
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 Tampico neighborhood in Rio Rancho, NM, residents most commonly identify their ethnicity or ancestry as German (23.3%). There are also a number of people of Mexican ancestry (18.0%), and residents who report Spanish roots (14.3%), and some of the residents are also of Irish ancestry (10.2%), along with some English ancestry residents (6.8%), 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 Tampico neighborhood spend between 30 and 45 minutes commuting one-way to work (32.5% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (77.8%) 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 (10.7%) . 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.
