Neighborhood Summary

Nestled in a region that combines both affordability and a sense of community, this neighborhood presents a unique blend of opportunities for potential homebuyers and investors. The median home price is notably attractive at $110,300, making it a considerable draw for those looking to enter the housing market without a hefty initial investment. Compared to the national average, this price point is significantly lower, offering an affordable entry into homeownership. Moreover, the homeownership rate stands robust at 64%, with a substantial portion of these owners, 38%, living mortgage-free. This suggests a stable, long-term resident base which adds to the community’s charm and potential resilience in fluctuating economic conditions.

The economic landscape here is nuanced. The median household income of $46,957 is below the national average, yet the unemployment rate of 3% is impressively low, indicating a relatively healthy job market. However, with 18% of the population living under the poverty line, there are pockets of economic challenges that may impact community development. Education levels are also an area for growth, as only 10% of residents hold a college degree, which is substantially below the national benchmark. This could suggest limited high-skilled job opportunities or access to higher education, potentially influencing long-term economic prospects.

In terms of housing dynamics, the neighborhood shows a promising mixture of renters and owners, with rental options offering significant affordability at a median contract rent of $536. While specific data on rent as a percentage of income is not available, the owner's mortgage burden is reasonable, with only 22% of homeowners spending 30% or more of their income on housing costs. This reflects a generally manageable cost of living, a factor that could appeal to young professionals and families seeking financial stability.

While the neighborhood has its merits, some may find the socio-economic conditions less appealing compared to national averages. For those interested in similar affordability but hoping for better educational achievements or a lower poverty rate, exploring adjacent neighborhoods could be beneficial. Areas slightly to the north or south with parallel median home prices might offer improved educational metrics or community investment potential, ensuring a good balance between affordability and quality of life. In conclusion, this neighborhood presents a blend of affordability and stable homeownership with room for economic and educational growth, making it a viable consideration for thoughtful investors and homebuyers.