Neighborhood Summary

Nestled in an area characterized by a median home price of $417,900, this neighborhood presents a unique blend of features that potential homebuyers and real estate professionals should carefully consider. The median household income here stands at $64,676, slightly below the national average. This could indicate a cost of living that might stretch household finances, particularly with a median contract rent of $1,876, which could be burdensome for renters without substantial income. Significantly, the ownership dynamics reveal that a mere 24% of residents own their homes, while 53% are renters. Interestingly, there's a high vacancy rate of 23%, which might suggest a transient population or potential opportunities for investment in long-term rental properties. The unemployment rate is pegged at 6%, which is just above the national average, potentially affecting economic growth and stability in the community.

Demographically, the area is predominantly white, with 16% of the population being non-US citizens, contributing to a diverse cultural milieu. Educational attainment reveals that 28% of residents possess a college degree, slightly trailing the national average and possibly impacting the types of job opportunities available within the neighborhood. Married-couple families make up 33% of the households, pointing to a community with a mix of family structures. An intriguing aspect is that all homeowners here live without mortgages, a factor that may influence the housing market dynamics, typically indicating financial stability among owners but also possibly leading to fewer homes entering the market.

While certain metrics paint a challenging picture, such as the income levels and the high percentage of renters, there are potential investment opportunities in these vacancies and rental properties. However, for those seeking a neighborhood with similar median home prices but more favorable metrics, exploring nearby areas with lower unemployment rates and higher educational attainment might be wise. These alternatives could offer a more robust economic environment and potentially better long-term growth prospects.

Overall, this neighborhood offers a blend of opportunities and challenges. Prospective investors and homebuyers should weigh these factors carefully, considering personal and financial goals while keeping an eye on the local market trends to make informed decisions. While the area has its unique appeal, balancing this with a consideration of comparable neighborhoods with more favorable metrics might yield the best results for future investments and living conditions.