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.
Hatchery Rd / N Williams Lk Rd median real estate price is $344,852, which is more expensive than 69.2% of the neighborhoods in Michigan and 47.0% of the neighborhoods in the U.S.
The average rental price in Hatchery Rd / N Williams Lk Rd is currently $2,085, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 84.3% of the neighborhoods in Michigan.
Hatchery Rd / N Williams Lk Rd is a suburban neighborhood (based on population density) located in Waterford, Michigan.
Hatchery Rd / N Williams Lk Rd real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Hatchery Rd / N Williams Lk Rd neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
Real estate vacancies in Hatchery Rd / N Williams Lk Rd are 4.2%, which is lower than one will find in 71.7% of American neighborhoods. Demand for real estate in Hatchery Rd / N Williams Lk Rd is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.
Notable & Unique Neighborhood Characteristics
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
People
In a nation where 1 out of every 4 children lives in poverty, the Hatchery Rd / N Williams Lk Rd neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, with a nice mix of college students, safety from crime, and decent walkability, the Hatchery Rd / N Williams Lk Rd neighborhood rates highly as a college student friendly place to live, and one that college students and their parents may want to consider. NeighborhoodScout's analysis shows that it rates more highly for a good place for college students to live than 87.8% of the neighborhoods in MI. This often also means that the area has certain amenities and services geared towards college students, from undergraduates to graduate students.
Real Estate
Some neighborhoods are made up of apartments. Some consist of row houses, and most - by far - consist of a mixture of housing types. But the Hatchery Rd / N Williams Lk Rd neighborhood stands out due to the total dominance of detached, single-family homes here. There are nearly no other types of residential real estate in the neighborhood. In fact, this neighborhood has a higher proportion of single-family homes in its real estate stock than 98.7% of all American neighborhoods.
Diversity
Did you know that the Hatchery Rd / N Williams Lk Rd neighborhood has more Polish and French Canadian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 16.9% of this neighborhood's residents have Polish ancestry and 3.3% have French Canadian ancestry.
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 Hatchery Rd / N Williams Lk Rd neighborhood in Waterford are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 64.5% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America'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 Hatchery Rd / N Williams Lk Rd neighborhood, 36.3% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 29.1% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (19.3%), and 15.2% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Hatchery Rd / N Williams Lk Rd neighborhood is English, spoken by 98.8% 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 Hatchery Rd / N Williams Lk Rd neighborhood in Waterford, MI, residents most commonly identify their ethnicity or ancestry as German (24.1%). There are also a number of people of Polish ancestry (16.9%), and residents who report Irish roots (15.9%), and some of the residents are also of English ancestry (15.4%), along with some Italian ancestry residents (6.9%), 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 Hatchery Rd / N Williams Lk Rd neighborhood spend between 45 minutes and one hour commuting one-way to work (31.7% of working residents), longer and tougher than most commutes in America.
Here most residents (77.8%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (12.7%) . 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.
