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.
Springs median real estate price is $1,362,237, which is more expensive than 85.2% of the neighborhoods in New York and 95.3% of the neighborhoods in the U.S.
The average rental price in Springs is currently $6,409, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 97.1% of the neighborhoods in New York.
Springs is a suburban neighborhood (based on population density) located in East Hampton, New York. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Springs real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Springs 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 Springs. The current real estate vacancy rate here is 29.5%. This is higher than the rate of vacancies in 94.5% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (27.4%). 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 East Hampton, the Springs neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
Springs is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, Springs is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.
Modes of Transportation
In the Springs neighborhood, 1.8% of people ride a ferry to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of ferry ridership than in 99.4% of the neighborhoods in America.
People
The Springs neighborhood has a greater percentage of children living in poverty (61.7%) than found in 97.2% 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.
In addition, if you're planning where to retire, the Springs neighborhood in East Hampton is a great option to consider. According to NeighborhoodScout's exclusive retirement dream area analysis, it's peaceful and quiet, has above average safety ratings compared to other neighborhoods in NY, offers a wide range of housing options, and has already attracted an enviable mix of college educated seniors. This neighborhood ranks as better for retirement living than 87.4% of the neighborhoods in New York. If you are considering retiring to New York, this is a good neighborhood to look at.
Diversity
Did you know that the Springs neighborhood has more South American and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 39.6% of this neighborhood's residents have South American ancestry and 8.0% have Eastern European 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 Springs neighborhood in East Hampton are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 85.0% of the neighborhoods in America. With 61.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 97.2% of U.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 Springs neighborhood, 41.7% 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 26.4% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (24.7%), and 7.1% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Springs neighborhood is English, spoken by 50.9% of households. Some people also speak Spanish (42.4%).
Ethnicity / Ancestry
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the Springs neighborhood in East Hampton, NY, residents most commonly identify their ethnicity or ancestry as South American (39.6%). There are also a number of people of Italian ancestry (9.7%), and residents who report Irish roots (9.3%), and some of the residents are also of English ancestry (8.2%), along with some Eastern European ancestry residents (8.0%), among others. In addition, 29.8% of the residents of this neighborhood were born in another country.
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 Springs neighborhood spend between 15 and 30 minutes commuting one-way to work (53.2% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (56.7%) 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 (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.
