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.
Reservoir Oval E / Holt Pl median real estate price is $627,073, which is more expensive than 47.9% of the neighborhoods in New York and 76.5% of the neighborhoods in the U.S.
The average rental price in Reservoir Oval E / Holt Pl is currently $3,254, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 44.6% of New York neighborhoods.
Reservoir Oval E / Holt Pl is a densely urban neighborhood (based on population density) located in Bronx, New York.
Reservoir Oval E / Holt Pl 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 Reservoir Oval E / Holt Pl neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.
Real estate vacancies in Reservoir Oval E / Holt Pl are 5.0%, which is lower than one will find in 66.8% of American neighborhoods. Demand for real estate in Reservoir Oval E / Holt Pl 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 Bronx, the Reservoir Oval E / Holt Pl neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the Reservoir Oval E / Holt Pl neighborhood buck this trend. 67.8% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.5% of U.S. neighborhoods.
Modes of Transportation
In the Reservoir Oval E / Holt Pl neighborhood, 49.3% of people ride the train 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 train ridership than in 99.4% of the neighborhoods in America.
Also, more people ride the bus in this neighborhood each day to get to work than 99.2% of U.S. neighborhoods.
Real Estate
The Reservoir Oval E / Holt Pl neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 60,006 persons per square mile in the neighborhood, it is more packed with people than 98.8% of the nation's neighborhoods. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The Reservoir Oval E / Holt Pl neighborhood is among the top 5% of American neighborhoods in terms of walkability.
In addition, 97.6% of the real estate in the Reservoir Oval E / Holt Pl neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Furthermore, the real estate in the Reservoir Oval E / Holt Pl neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 87.5% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 97.8% of American neighborhoods.
Also of note, the Reservoir Oval E / Holt Pl 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 88.5% 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.
Diversity
Did you know that the Reservoir Oval E / Holt Pl neighborhood has more Dominican and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 20.2% of this neighborhood's residents have Dominican ancestry and 13.5% have Puerto Rican ancestry.
Reservoir Oval E / Holt Pl is also pretty special linguistically. Significantly, 57.7% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 95.3% of all U.S. neighborhoods.
Migration / Stability
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Reservoir Oval E / Holt Pl neighborhood. More residents of the Reservoir Oval E / Holt Pl neighborhood live here today that also were living in this same neighborhood five years ago than is found in 95.6% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while.
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 Reservoir Oval E / Holt Pl neighborhood in Bronx are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 61.0% of U.S. neighborhoods. With 32.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 83.4% of U.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 Reservoir Oval E / Holt Pl neighborhood, 34.7% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 32.2% of the residents employed. Other residents here are employed in executive, management, and professional occupations (17.5%), and 15.6% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Reservoir Oval E / Holt Pl neighborhood is Spanish, spoken by 57.7% of households. Some people also speak English (29.1%).
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 Reservoir Oval E / Holt Pl neighborhood in Bronx, NY, residents most commonly identify their ethnicity or ancestry as Mexican (26.3%). There are also a number of people of Dominican ancestry (20.2%), and residents who report Puerto Rican roots (13.5%), and some of the residents are also of Asian ancestry (7.5%), along with some Irish ancestry residents (4.3%), among others. In addition, 40.5% 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 Reservoir Oval E / Holt Pl neighborhood spend between 45 minutes and one hour commuting one-way to work (46.6% of working residents), longer and tougher than most commutes in America.
Here most residents (49.3%) take the train to get to work. In addition, quite a number also ride the bus to get to work (24.0%) and 17.7% of residents also drive alone in a private automobile for their daily commute. This neighborhood is distinguished by the high number of residents who take the train to work each day, which can be a very good way to get to work at a lower cost and with less pollution.
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.
