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.
Preston Bend / Rockcreek Place median real estate price is $517,065, which is more expensive than 83.5% of the neighborhoods in Texas and 66.7% of the neighborhoods in the U.S.
The average rental price in Preston Bend / Rockcreek Place is currently $2,376, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 78.9% of the neighborhoods in Texas.
Preston Bend / Rockcreek Place is an urban neighborhood (based on population density) located in Plano, Texas.
Preston Bend / Rockcreek Place 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 single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Preston Bend / Rockcreek Place 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.
Preston Bend / Rockcreek Place has a 13.5% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 75.3% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are 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 Plano, the Preston Bend / Rockcreek Place neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
Of note is NeighborhoodScout's research finding that the Preston Bend / Rockcreek Place neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Preston Bend / Rockcreek Place community truly stands out from the rest in this regard.
In addition, the first thing that you'll notice if you moved to this neighborhood is that an astounding 3.1% of the households are same sex couples. According to NeighborhoodScout's analysis, this is a higher proportion of same sex households than in 99.2% of the neighborhoods in America. This is one indicator that this neighborhood is likely a gay-friendly neighborhood. So if you are looking for such a neighborhood, the Preston Bend / Rockcreek Place neighborhood should definitely be on your list of places to consider.
Modes of Transportation
In the Preston Bend / Rockcreek Place neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 41.6% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 99.3% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
Real Estate
The Preston Bend / Rockcreek Place 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 88.2% 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.
In addition, one of the really unique and interesting things about the look and setting of the Preston Bend / Rockcreek Place neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 74.7% 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 95.9% of all neighborhoods in America.
Furthermore, renter-occupied real estate is dominant in the Preston Bend / Rockcreek Place neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 84.9%, which is higher than 95.3% 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.
Diversity
Did you know that the Preston Bend / Rockcreek Place neighborhood has more Brazilian and Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.7% of this neighborhood's residents have Brazilian ancestry and 53.2% have Asian ancestry.
Preston Bend / Rockcreek Place is also pretty special linguistically. Significantly, 10.6% of its residents five years old and above primarily speak Langs. of India at home. While this may seem like a small percentage, it is higher than 99.3% of the neighborhoods in America.
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 Preston Bend / Rockcreek Place neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 95.7% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas. What is also interesting to note, is that the Preston Bend / Rockcreek Place neighborhood has a greater percentage of residents born in another country (53.0%) than are found in 98.2% of all U.S. neighborhoods.
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 Preston Bend / Rockcreek Place neighborhood in Plano are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 69.7% of the neighborhoods in America. In addition, 0.0% 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 100.0% of America's neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the Preston Bend / Rockcreek Place neighborhood, 61.4% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 19.2% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (15.9%), and 3.4% in manufacturing and laborer 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 Preston Bend / Rockcreek Place neighborhood is English, spoken by 38.5% of households. Other important languages spoken here include Langs. of India and Chinese.
Ethnicity / Ancestry
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the Preston Bend / Rockcreek Place neighborhood in Plano, TX, residents most commonly identify their ethnicity or ancestry as Asian (53.2%). There are also a number of people of English ancestry (4.5%), and residents who report Polish roots (4.4%), and some of the residents are also of Brazilian ancestry (3.7%), along with some German ancestry residents (3.5%), among others. In addition, 53.0% 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 Preston Bend / Rockcreek Place neighborhood spend under 15 minutes commuting one-way to work (43.4% of working residents), one of the shortest commutes across America.
Here most residents (52.8%) drive alone in a private automobile to get to work. 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.
