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.
Olmsted Falls Northwest median real estate price is $290,784, which is more expensive than 68.3% of the neighborhoods in Ohio and 38.1% of the neighborhoods in the U.S.
The average rental price in Olmsted Falls Northwest is currently $2,484, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 95.0% of the neighborhoods in Ohio.
Olmsted Falls Northwest is a suburban neighborhood (based on population density) located in Olmsted Falls, Ohio.
Olmsted Falls Northwest real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Olmsted Falls Northwest neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
In Olmsted Falls Northwest, the current vacancy rate is 2.7%, which is a lower rate of vacancies than 81.8% of all neighborhoods in the U.S. This means that the housing supply in Olmsted Falls Northwest is very tight compared to the demand for property here.
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 Olmsted Falls, the Olmsted Falls Northwest neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
The Olmsted Falls Northwest neighborhood has earned the amazing distinction of having one of the highest rates of detached, single-family homes of any neighborhood in the U.S. With 100.0% of the residential real estate here made up of free-standing single-family homes, there is a greater proportion of single-family homes here than in 98.7% of all neighborhoods in America.
In addition, owner-occupied real estate dominates the Olmsted Falls Northwest neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 97.2% of neighborhoods in America.
People
According to NeighborhoodScout's exclusive analysis, Olmsted Falls Northwest is among the best neighborhoods for families in Ohio. In fact, this neighborhood is more family-friendly than 95.8% of neighborhoods in the entire state of Ohio. 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 Olmsted Falls Northwest neighborhood. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for active retirees.
Diversity
Did you know that the Olmsted Falls Northwest neighborhood has more Slovak and Hungarian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.0% of this neighborhood's residents have Slovak ancestry and 4.2% have Hungarian ancestry.
Olmsted Falls Northwest is also pretty special linguistically. Significantly, 13.5% of its residents five years old and above primarily speak Polish at home. While this may seem like a small percentage, it is higher than 99.1% of the neighborhoods in America.
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 Olmsted Falls Northwest neighborhood in Olmsted Falls are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 73.8% of the neighborhoods in America. In addition, 2.4% 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 73.5% of America'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 Olmsted Falls Northwest neighborhood, 43.4% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 20.1% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (19.7%), and 16.9% 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 Olmsted Falls Northwest neighborhood is English, spoken by 92.4% of households. Other important languages spoken here include Polish, Spanish and Arabic.
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 Olmsted Falls Northwest neighborhood in Olmsted Falls, OH, residents most commonly identify their ethnicity or ancestry as German (20.9%). There are also a number of people of Irish ancestry (15.0%), and residents who report English roots (11.7%), and some of the residents are also of Polish ancestry (11.2%), along with some Italian ancestry residents (7.0%), 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 Olmsted Falls Northwest neighborhood spend between 15 and 30 minutes commuting one-way to work (38.7% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (86.1%) 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.
