Neighborhood Summary

Nestled in a serene setting, this neighborhood presents an intriguing blend of stability and opportunity, reflected through its diverse array of demographic and economic indicators. With a median home price of $481,900, it places itself slightly above the national median, indicating a community that values quality and comfort in its housing options. The median household income stands robustly at $111,643, significantly surpassing the national average, which speaks to the affluence and economic vitality of the residents. Impressively, the area boasts a low poverty rate of just 3%, a stark contrast to higher figures seen across the country, suggesting a well-off community where economic hardships are less frequent.

However, some metrics reveal areas of concern, such as the percentage of vacant housing units at 31%, which is notably higher than the national average. This could potentially impact the neighborhood's dynamics, reflecting instability or a transient population. The balance between owners and renters is tilted, with only 24% ownership compared to 44% renters. This, combined with a substantial portion of vacant housing, could indicate an opportunity for investment in developing more stable, owner-occupied housing. On the upside, the unemployment rate stands at a remarkably low 1%, highlighting a community with ample employment opportunities and economic resilience.

The educational attainment, with 23% holding a college degree, falls under the national average, suggesting potential areas for growth in educational facilities and opportunities. Meanwhile, the percentage of married-couple families is equally 23%, which is lower when compared to more family-centric neighborhoods, possibly due to the higher renter occupancy. A notable 35% of homeowners are without mortgages, reflecting a segment of financially secure residents, yet 31% of those with mortgages are allocating over 30% of their income towards it, indicating a potential burden similar to national statistics.

For potential homebuyers or investors seeking neighborhoods with similar price points but more favorable metrics, one might consider exploring nearby areas that boast lower vacancy rates and higher ownership. Such neighborhoods may offer a tighter-knit community feel and greater long-term investment stability. Overall, this neighborhood presents a unique blend of economic vigor and opportunities for development, appealing to those ready to invest in an area poised for growth and transformation.