Neighborhood Summary

Situated in a community with a median home price of $67,400, this neighborhood offers entry-level affordability that is attractive for first-time buyers or investors seeking budget-friendly opportunities. However, it is essential to consider the broader economic and social dynamics. The neighborhood's median household income of $35,885 falls below the national average, reflecting economic challenges that are further emphasized by a 23% poverty rate. While the unemployment rate stands at 5%, aligning more closely with national levels, the area’s economic potential may be limited by the fact that only 6% of residents hold a college degree. This lower educational attainment could impact job opportunities and, consequently, income growth prospects.

Homeownership is prevalent here, with 53% of residents owning their homes, and remarkably, 61% of these owners do so without mortgages. This could imply a stable homeowner base, although the area sees a high vacancy rate of 26%, suggesting potential issues with demand or rental market saturation. The neighborhood's rental scene, with a median contract rent of $779, could draw interest from those looking to invest in rental properties, though income limitations mean that affordability might be tight for some, as many renters could potentially spend a significant portion of their income on housing.

Socially, the neighborhood is predominantly white, with married-couple families making up 35% of households. Non-US citizens account for just 5% of the population, indicating less diversity compared to other urban settings. With no specific crime index available, general caution is advised; it would be prudent for potential buyers to seek local insights or crime statistics to fully understand the area's safety profile.

For those seeking similar price points but potentially more favorable metrics, exploring nearby neighborhoods with lower vacancy rates or higher educational attainment might be worthwhile. An area with a more balanced owners-to-renters ratio and a lower percentage of income spent on housing could provide better long-term stability and growth potential. This neighborhood, while affordable, presents a mixed bag of opportunities and challenges, making it imperative for buyers and investors to weigh these factors carefully.