Neighborhood Summary

The neighborhood in question presents a unique blend of characteristics that both potential homebuyers and real estate professionals would find intriguing. With a median home price of $178,000, it offers an attractive entry point compared to the national average, making it an appealing option for first-time buyers and investors alike. However, the median household income of $53,865 is slightly below the national average, which suggests that while housing is affordable, the community may not have as strong a spending capacity. This is further underscored by the fact that 15% of the residents live below the poverty line, indicating economic challenges that prospective investors might want to consider.

The area sees a higher percentage of renters, with only 29% of homes being owner-occupied compared to a national figure that typically leans more towards ownership. This rental dynamic might appeal to investors looking for rental income opportunities, especially with a median contract rent of $1,299. However, with 75% of homeowners saddled with mortgages that consume more than 30% of their income, there is a risk of financial strain among homeowners should economic conditions worsen. Vacant housing units stand at 4%, signaling a relatively healthy housing supply, although not as dynamic as in areas with lower vacancy rates.

One aspect that potential residents might ponder is the educational attainment levels in the area, with only 14% of the populace holding a college degree, which lags behind the national average. This could influence the types of employment opportunities available locally. The neighborhood is predominantly white, which might suggest a lack of racial diversity compared to more multicultural urban areas. With 23% of the residents being non-US citizens, however, there is a noticeable presence of international influences that can enrich the community's cultural tapestry.

Given the 5% unemployment rate, which is slightly above the national average, coupled with the challenges of high mortgage burdens, prospective buyers might also consider exploring nearby neighborhoods with similar housing prices but potentially more favorable economic indicators. Areas with higher educational attainment and lower poverty rates might offer better long-term stability and growth potential. Ultimately, while this neighborhood offers affordability, its economic indicators and lower educational attainment levels might prompt buyers to compare it with other areas that align more closely with their long-term goals and lifestyle aspirations.