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.
Paseo del Norte Blvd NE / Tramway Blvd NE median real estate price is $727,419, which is more expensive than 96.1% of the neighborhoods in New Mexico and 81.5% of the neighborhoods in the U.S.
The average rental price in Paseo del Norte Blvd NE / Tramway Blvd NE is currently $2,792, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 96.2% of the neighborhoods in New Mexico.
Paseo del Norte Blvd NE / Tramway Blvd NE is a suburban neighborhood (based on population density) located in Albuquerque, New Mexico.
Paseo del Norte Blvd NE / Tramway Blvd NE real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Paseo del Norte Blvd NE / Tramway Blvd NE 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.
Real estate vacancies in Paseo del Norte Blvd NE / Tramway Blvd NE are 5.6%, which is lower than one will find in 62.1% of American neighborhoods. Demand for real estate in Paseo del Norte Blvd NE / Tramway Blvd NE is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.
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 Albuquerque, the Paseo del Norte Blvd NE / Tramway Blvd NE 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 Paseo del Norte Blvd NE / Tramway Blvd NE 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 Paseo del Norte Blvd NE / Tramway Blvd NE community truly stands out from the rest in this regard.
In addition, according to NeighborhoodScout's exclusive analysis, Paseo del Norte Blvd NE / Tramway Blvd NE is among the best neighborhoods for families in New Mexico. In fact, this neighborhood is more family-friendly than 98.4% 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 Paseo del Norte Blvd NE / Tramway Blvd NE 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 and urban sophisticates.
Real Estate
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 Paseo del Norte Blvd NE / Tramway Blvd NE 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 98.4% of all American neighborhoods.
Modes of Transportation
In the Paseo del Norte Blvd NE / Tramway Blvd NE neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 32.3% 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 97.9% 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.
Car Ownership
We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Paseo del Norte Blvd NE / Tramway Blvd NE neighborhood has a highly unusual pattern of car ownership. Residents of this neighborhood must really love automobiles. NeighborhoodScout's Analysis reveals that 35.4% of the households here have four, five, or more cars. That is more cars per household than in 96.3% of the neighborhoods in the nation.
Diversity
Did you know that the Paseo del Norte Blvd NE / Tramway Blvd NE neighborhood has more Native American and Swedish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.3% of this neighborhood's residents have Native American ancestry and 4.6% have Swedish ancestry.
Paseo del Norte Blvd NE / Tramway Blvd NE is also pretty special linguistically. Significantly, 3.4% 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 95.3% 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 Paseo del Norte Blvd NE / Tramway Blvd NE neighborhood in Albuquerque 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 89.2% 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 Paseo del Norte Blvd NE / Tramway Blvd NE neighborhood, 67.5% 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 15.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (8.8%), and 6.2% 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 Paseo del Norte Blvd NE / Tramway Blvd NE neighborhood is English, spoken by 87.0% of households. Other important languages spoken here include Spanish and Langs. of India.
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 Paseo del Norte Blvd NE / Tramway Blvd NE neighborhood in Albuquerque, NM, residents most commonly identify their ethnicity or ancestry as English (17.6%). There are also a number of people of German ancestry (14.8%), and residents who report Irish roots (11.4%), and some of the residents are also of Mexican ancestry (9.6%), along with some Spanish ancestry residents (5.9%), 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 Paseo del Norte Blvd NE / Tramway Blvd NE neighborhood spend between 15 and 30 minutes commuting one-way to work (54.1% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (61.0%) 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.
