This is a small community in a single neighborhood.
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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.
Three Way is a very small city located in the state of Tennessee. With a population of 1,904 people and just one neighborhood, Three Way is the 225th largest community in Tennessee.
Occupations and Workforce
Three Way is neither predominantly blue-collar nor white-collar, instead having a mixed workforce of both blue-collar and white-collar jobs. Overall, Three Way is a city of professionals, sales and office workers, and managers. There are especially a lot of people living in Three Way who work in healthcare (15.05%), management occupations (12.76%), and teaching (12.21%).
Setting & Lifestyle
Because of many things, Three Way is a great place for families with children to consider. First of all, many other families with children live here, making Three Way a place where both parents and children are more likely to develop social ties with other families, as well as find family-oriented services and community. The city’s good public school district and large population of college-educated adults provide an environment conducive to academic values. With regard to real estate, Three Way has a high rate of owner-occupied single family homes, which tends to reflect stability in the local community. Finally, Three Way’s overall crime rate is lower than average for the country.
It is a fairly quiet city because there are relatively few of those groups of people who have a tendency to be noisy. (Children, for example, often can't help themselves from being noisy, and being parents ourselves, we know!) Three Way has relatively few families with children living at home, and is quieter because of it. Renters and college students, for their own reasons, can also be noisy. Three Way has few renters and college students. But the biggest reason it is quieter in Three Way than in most places in America, is that there are just simply fewer people living here. If you think trees make good neighbors, Three Way may be for you.
Being a small city, Three Way does not have a public transit system used by locals to get to and from work.
Demographics
The citizens of Three Way are very well educated compared to the average community in the nation: 37.12% of adults in Three Way have a bachelor's degree or even advanced degree.
The per capita income in Three Way in 2022 was $40,437, which is wealthy relative to Tennessee, and upper middle income relative to the rest of the US. This equates to an annual income of $161,748 for a family of four.
Three Way is a very ethnically-diverse city. The people who call Three Way home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Three Way residents report their race to be White, followed by Black or African-American. Important ancestries of people in Three Way include Irish, English, German, European, and Scottish.
The most common language spoken in Three Way is English. Other important languages spoken here include Spanish and Italian.
Notable & Unique Neighborhood Characteristics
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
People
If you are planning to retire in Tennessee, this neighborhood should be on your must-see list. For many reasons, may be considered a retiree's dream neighborhood. According to NeighborhoodScout's exclusive analysis and metrics, it's peaceful and quiet, has above average safety from crime compared to other neighborhoods in Tennessee, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood more retiree-friendly than 97.2% of neighborhoods in TN. If a Tennessee retirement is in your future, this neighborhood should be one of the places you visit. In addition to being an excellent choice for active retirees, this neighborhood is also a very good choice for highly educated executives.
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 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 96.4% of all American neighborhoods.
Modes of Transportation
Our research reveals that 89.6% of commuters who live in the neighborhood get to work each day by driving alone in their automobiles, which is a higher proportion than 95.9% of U.S. neighborhoods.
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 neighborhood in Three Way are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 68.0% of the neighborhoods in America. With 16.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 63.4% of U.S. neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the neighborhood, 51.2% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 18.4% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (17.8%), and 12.4% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the neighborhood is English, spoken by 95.0% of households. Some people also speak Spanish (3.7%).
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 neighborhood in Three Way, TN, residents most commonly identify their ethnicity or ancestry as English (14.7%). There are also a number of people of German ancestry (11.8%), and residents who report Irish roots (11.7%), and some of the residents are also of Mexican ancestry (2.7%), along with some Scottish ancestry residents (1.8%), 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 neighborhood spend between 15 and 30 minutes commuting one-way to work (61.5% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (89.6%) drive alone in a private automobile to get to work. 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.
