Neighborhood Summary

Nestled in an evolving community, this neighborhood presents a unique blend of opportunity and challenge, characterized by its notably low median home price of $70,000, which stands out as significantly lower than the national average. This affordability invites potential homebuyers and investors looking for budget-friendly options. However, this comes with certain trade-offs, as the median household income here is $23,555, well below the national standard. This discrepancy highlights a community where economic challenges exist, evidenced further by the 23% of residents living below the poverty line. Despite these hurdles, there's a noteworthy percentage of homeowners, with 48% of residents owning their homes, many of whom, about 75%, do so without a mortgage, signaling an established base of residents committed to long-term living in the area.

The neighborhood shows a considerable rental market as well, with a median contract rent of $410, providing an affordable option compared to national figures. This low rent does not necessarily reflect a lack of demand but rather a carefully budgeted lifestyle for many, as details about rent consuming more than 30% of income are unavailable. The housing landscape is further characterized by a vacancy rate of 19%, suggesting potential for growth and development. The community is primarily white, with married-couple families making up a modest 27% of households. Education levels in the area show room for improvement, with only 7% of the population holding a college degree, which may impact employment opportunities and economic mobility.

Unemployment sits at 5%, slightly higher than the national average, but not alarmingly so. The neighborhood's diversity is enhanced by a 23% non-U.S. citizen population, enriching the area with cultural vibrancy and diverse perspectives. While crime metrics are unavailable, potential buyers should consider looking into local law enforcement reports for a comprehensive understanding. For those concerned with investing in a neighborhood with more favorable socio-economic metrics while retaining similar affordability, exploring nearby areas with slightly higher median home prices but improved income levels, lower poverty rates, and higher education attainment could be beneficial.

In summary, this neighborhood offers a compelling mix of affordability and long-term residents, with clear indicators of economic challenges. It might appeal to investors looking to capitalize on low entry prices and potential growth. For homebuyers seeking a more prosperous community without a substantial increase in home cost, alternative neighborhoods with comparable pricing yet stronger economic indicators might serve as a better fit for long-term stability and growth.