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.
Somerset Estates Place / Towncrest Terrace median real estate price is $755,021, which is more expensive than 81.4% of the neighborhoods in Utah and 82.8% of the neighborhoods in the U.S.
The average rental price in Somerset Estates Place / Towncrest Terrace is currently $1,927, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 48.0% of Utah neighborhoods.
Somerset Estates Place / Towncrest Terrace is an urban neighborhood (based on population density) located in Cottonwood Heights, Utah.
Somerset Estates Place / Towncrest Terrace real estate is primarily made up of large (four, five or more bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Somerset Estates Place / Towncrest Terrace neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
Real estate vacancies in Somerset Estates Place / Towncrest Terrace are 4.6%, which is lower than one will find in 69.6% of American neighborhoods. Demand for real estate in Somerset Estates Place / Towncrest Terrace 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
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
Real Estate
One way that the Somerset Estates Place / Towncrest Terrace neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 98.5% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.
People
A majority of the adults in the Somerset Estates Place / Towncrest Terrace neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for Utah by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 96.5% of the neighborhoods in Utah. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for urban sophisticates.
Modes of Transportation
A unique way of commuting is simply not to. And in the Somerset Estates Place / Towncrest Terrace neighborhood, analysis shows that 27.7% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 95.5% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
Diversity
Did you know that the Somerset Estates Place / Towncrest Terrace neighborhood has more Iranian and Danish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.1% of this neighborhood's residents have Iranian ancestry and 3.7% have Danish ancestry.
Somerset Estates Place / Towncrest Terrace is also pretty special linguistically. Significantly, 0.6% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 95.6% 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 Somerset Estates Place / Towncrest Terrace neighborhood in Cottonwood Heights 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 89.0% of the neighborhoods in America. With 11.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 51.7% of U.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 Somerset Estates Place / Towncrest Terrace neighborhood, 65.4% 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 13.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (10.8%), and 9.9% in manufacturing and laborer occupations.
Languages
The most common language spoken in the Somerset Estates Place / Towncrest Terrace neighborhood is English, spoken by 89.7% of households. Some people also speak Spanish (2.6%).
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 Somerset Estates Place / Towncrest Terrace neighborhood in Cottonwood Heights, UT, residents most commonly identify their ethnicity or ancestry as English (26.0%). There are also a number of people of German ancestry (11.0%), and residents who report Scottish roots (7.4%), and some of the residents are also of Irania ancestry (6.1%), along with some Irish ancestry residents (5.1%), 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 Somerset Estates Place / Towncrest Terrace neighborhood spend between 15 and 30 minutes commuting one-way to work (47.8% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (61.1%) 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 (10.0%) . 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.
