What do we mean by a neighborhood?
NeighborhoodScout® uses the official government designation for neighborhoods - the census tract.
Census tracts are small, relatively permanent subdivisions of a county that are defined by the U.S. Census Bureau in conjunction with local authorities all across the country to define real neighborhoods that are bounded to contain areas with homogeneous population characteristics (including economic status, lifestyle, and living conditions). Census tracts usually have 4,000 persons, but can range between 1,500 and 8,000 persons. This is the most fine-grained area for which detailed information is made available from the government, to protect the individual privacy of each of us. Because census tracts are based on population, they vary in size depending on the density of settlement. In urban areas, they are small, and in rural areas they can cover an entire small town or even a few small towns in very rural areas.
Since census tracts are subdivisions of a county, we did a spatial overlay of the census tracts onto city and town boundaries using a geographic information system to properly assign each census tract to its appropriate city or town. Then we named each census tract to the local colloquially recognized neighborhood name for that spot (e.g., Boston, MA (Dorchester). If there was not a name available, we named the census tract by the largest street intersection in the census tract (e.g., Worcester, MA (Lincoln St/Plantation St)
Why we don't use Zip Codes as neighborhoods
Zip codes were developed by the Postal Service for the purpose of delivering mail, but were never intended to define coherent neighborhoods. In addition, Zip Codes can have as many as 10 distinctly different census tracts contained within them. When distinct census tracts are blended together in a single Zip Code, the data reflects their average conditions and often gives a false sense of the area. The result is that potentially great matching neighborhoods can be missed, and erroneous matches can also be produced and delivered to you.
Using census tracts makes great matches possible, and helps people find the areas that are best for them and their families. Because we are committed to providing the highest possible quality and finding the neighborhoods that best meet your criteria, we use census tracts. And, as always, we show you the actual street map of the neighborhood so you know exactly where your best matching neighborhood is located.
What is a Condition Alert?
A condition alert is a condition in the neighborhood that triggers an alert. NeighborhoodScout contains condition alerts to highlight conditions that are extreme, whether good or bad. This helps answer crucial questions about the state of the neighborhood being evaluated, such as:
What are the risks of violent crime here?
Is the risk of home break-ins or other property crimes increasing?
Does real estate here hold its value?
Are the trends in local vacancies or unemployment concerning?
...and dozens more.
Information at a glance that you need to know to invest, appraise or finance a property.
Putnam Addition / University of Arkansas median real estate price is $425,828, which is more expensive than 92.7% of the neighborhoods in Arkansas and 58.4% of the neighborhoods in the U.S.
The average rental price in Putnam Addition / University of Arkansas is currently $1,844, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 90.1% of the neighborhoods in Arkansas.
Putnam Addition / University of Arkansas is an urban neighborhood (based on population density) located in Fayetteville, Arkansas.
Putnam Addition / University of Arkansas real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Putnam Addition / University of Arkansas neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
Putnam Addition / University of Arkansas has a 13.6% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 74.5% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
Notable & Unique Neighborhood Characteristics
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Fayetteville, the Putnam Addition / University of Arkansas neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
One of the really interesting characteristics about the Putnam Addition / University of Arkansas neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 0.1% of college-friendly places to live in the state of Arkansas.
In addition, one of the unique characteristics of the Putnam Addition / University of Arkansas neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 97.2% of the neighborhoods in America. The Putnam Addition / University of Arkansas neighborhood also has a greater percentage of children living in poverty (100.0%) than found in 99.8% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.
Also, neighborhoodScout's analysis shows that the Putnam Addition / University of Arkansas neighborhood has a greater concentration of residents currently enrolled in college than 99.8% of the neighborhoods in the U.S. With 91.5% of the population here attending college, this is very much a college-focused neighborhood.
Occupations
There are more people living in the Putnam Addition / University of Arkansas neighborhood employed as sales and service workers (51.6%) than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.
Real Estate
Renter-occupied real estate is dominant in the Putnam Addition / University of Arkansas neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 99.0%, which is higher than 99.0% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.
Modes of Transportation
More people in Putnam Addition / University of Arkansas choose to walk to work each day (20.5%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Migration / Stability
The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the Putnam Addition / University of Arkansas neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.3% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
The Neighbors
There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.
The neighbors in the Putnam Addition / University of Arkansas neighborhood in Fayetteville are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 97.2% of U.S. neighborhoods. With 100.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 99.8% of U.S. neighborhoods.
The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.
In the Putnam Addition / University of Arkansas neighborhood, 48.4% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 29.2% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (14.7%), and 7.8% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Putnam Addition / University of Arkansas neighborhood is English, spoken by 97.3% of households.
Ethnicity / Ancestry
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the Putnam Addition / University of Arkansas neighborhood in Fayetteville, AR, residents most commonly identify their ethnicity or ancestry as Asian (4.8%). There are also a number of people of Irish ancestry (4.6%), and residents who report German roots (3.3%), and some of the residents are also of English ancestry (2.8%), along with some Italian ancestry residents (1.5%), among others.
Getting to Work
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Putnam Addition / University of Arkansas neighborhood spend under 15 minutes commuting one-way to work (54.2% of working residents), one of the shortest commutes across America.
Here most residents (53.0%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (20.5%) and 10.8% of residents also carpool with coworkers, friends, or neighbors for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
SCOUT’s patented match algorithm identifies the most similar neighborhoods to a subject location, and quantifies the similarity to the subject location. This allows analysts to identify the most similar neighborhoods in a local market area for appraisals, investments, and research.
The algorithm uses 273 neighborhood conditions, identifies the dominant dimensions underlying the conditions and calculates the similarity. This captures the true culture and character of locations, economic conditions, and trends.
The closer to 100% means the locations are nearly identical. 80% is a very good, but not excellent match, and so forth.
