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.
State Hwy 121 Bus / E Corporate Dr median real estate price is $390,223, which is more expensive than 70.8% of the neighborhoods in Texas and 54.7% of the neighborhoods in the U.S.
The average rental price in State Hwy 121 Bus / E Corporate Dr is currently $1,987, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 64.0% of the neighborhoods in Texas.
State Hwy 121 Bus / E Corporate Dr is a densely urban neighborhood (based on population density) located in Lewisville, Texas.
State Hwy 121 Bus / E Corporate Dr 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 small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the State Hwy 121 Bus / E Corporate Dr neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.
Home and apartment vacancy rates are 7.3% in State Hwy 121 Bus / E Corporate Dr. NeighborhoodScout analysis shows that this rate is lower than 52.2% of the neighborhoods in the nation, approximately near the middle range for vacancies.
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 Lewisville, the State Hwy 121 Bus / E Corporate Dr neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
Renter-occupied real estate is dominant in the State Hwy 121 Bus / E Corporate Dr neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 99.2%, which is higher than 99.1% 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, the State Hwy 121 Bus / E Corporate Dr neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 92.9% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
Furthermore, one of the really unique and interesting things about the look and setting of the State Hwy 121 Bus / E Corporate Dr neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 88.1% 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 97.9% of all neighborhoods in America.
Also of note, most neighborhoods are composed of a mixture of ages of homes, but the State Hwy 121 Bus / E Corporate Dr stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 80.1% of the residential real estate here was built in this one time period.
People
One of the most interesting things about the State Hwy 121 Bus / E Corporate Dr neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 50.4% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 95.9% of the neighborhoods in America.
In addition, with a nice mix of college students, safety from crime, and decent walkability, the State Hwy 121 Bus / E Corporate Dr neighborhood rates highly as a college student friendly place to live, and one that college students and their parents may want to consider. NeighborhoodScout's analysis shows that it rates more highly for a good place for college students to live than 85.8% of the neighborhoods in TX. This often also means that the area has certain amenities and services geared towards college students, from undergraduates to graduate students.
Diversity
Did you know that the State Hwy 121 Bus / E Corporate Dr neighborhood has more Sub-Saharan African and Yugoslav ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 12.4% of this neighborhood's residents have Sub-Saharan African ancestry and 0.3% have Yugoslav ancestry.
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. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the State Hwy 121 Bus / E Corporate Dr neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 95.6% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 State Hwy 121 Bus / E Corporate Dr neighborhood in Lewisville are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 78.6% of U.S. neighborhoods. With 11.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 53.3% 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 State Hwy 121 Bus / E Corporate Dr neighborhood, 34.6% 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 29.7% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (18.0%), and 17.7% in clerical, assistant, and tech support 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 State Hwy 121 Bus / E Corporate Dr neighborhood is English, spoken by 78.4% of households. Other important languages spoken here include Spanish and Chinese.
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 State Hwy 121 Bus / E Corporate Dr neighborhood in Lewisville, TX, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (12.4%). There are also a number of people of Mexican ancestry (10.7%), and residents who report German roots (4.2%), and some of the residents are also of Irish ancestry (4.2%), along with some Asian ancestry residents (3.9%), among others. In addition, 17.3% 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 State Hwy 121 Bus / E Corporate Dr neighborhood spend between 15 and 30 minutes commuting one-way to work (39.9% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (79.2%) 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 (11.0%) . 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.
