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.
Twin Oaks Village / West Oaks Village median real estate price is $364,785, which is more expensive than 61.8% of the neighborhoods in Texas and 47.6% of the neighborhoods in the U.S.
The average rental price in Twin Oaks Village / West Oaks Village is currently $1,633, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 61.5% of Texas neighborhoods.
Twin Oaks Village / West Oaks Village is an urban neighborhood (based on population density) located in Richmond, Texas.
Twin Oaks Village / West Oaks Village real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Twin Oaks Village / West Oaks Village neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
In Twin Oaks Village / West Oaks Village, the current vacancy rate is 2.1%, which is a lower rate of vacancies than 85.8% of all neighborhoods in the U.S. This means that the housing supply in Twin Oaks Village / West Oaks Village is very tight compared to the demand for property here.
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 Richmond, the Twin Oaks Village / West Oaks Village neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
Priests and therapists would like to think they know the secrets to a truly successful marriage, but according to NeighborhoodScout's research, the folks of the Twin Oaks Village / West Oaks Village neighborhood may actually hold the key. 71.5% of its residents are married, which is a higher percentage than is found in 97.4% of the neighborhoods in America.
In addition, the Twin Oaks Village / West Oaks Village neighborhood is a great option for families, as revealed by NeighborhoodScout's research on this neighborhood. The combination of top public schools, low crime rates, and owner-occupied single family homes, make this neighborhood among the top 7.9% of family-friendly neighborhoods in the state of Texas. Many other families also live here, making it easy to socialize and develop a sense of community. In addition, families here highly value education, as is reflected by the strength of the local schools. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for urban sophisticates.
Real Estate
Homes built from 2000 through today make up a higher proportion of the Twin Oaks Village / West Oaks Village neighborhood's real estate landscape than 95.6% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 68.9% of the residential real estate here is classified as newer.
Diversity
Did you know that the Twin Oaks Village / West Oaks Village neighborhood has more Arab and Haitian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 8.1% of this neighborhood's residents have Arab ancestry and 2.5% have Haitian ancestry.
Twin Oaks Village / West Oaks Village is also pretty special linguistically. Significantly, 20.7% of its residents five years old and above primarily speak Vietnamese at home. While this may seem like a small percentage, it is higher than 99.8% of the neighborhoods in America.
Migration / Stability
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. More residents of the Twin Oaks Village / West Oaks Village neighborhood live here today that also were living in this same neighborhood five years ago than is found in 95.4% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while. What is interesting to note, is that the Twin Oaks Village / West Oaks Village neighborhood has a greater percentage of residents born in another country (56.4%) than are found in 98.8% of all U.S. neighborhoods.
The Neighbors
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the Twin Oaks Village / West Oaks Village neighborhood in Richmond are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 80.3% of the neighborhoods in America. In addition, 9.4% 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 52.1% of America'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 Twin Oaks Village / West Oaks Village neighborhood, 35.7% 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 31.2% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (27.4%), and 5.7% in clerical, assistant, and tech support occupations.
Languages
The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Twin Oaks Village / West Oaks Village neighborhood is Spanish, spoken by 27.5% of households. Other important languages spoken here include English, Vietnamese, Langs. of India and Arabic.
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 Twin Oaks Village / West Oaks Village neighborhood in Richmond, TX, residents most commonly identify their ethnicity or ancestry as Asian (28.5%). There are also a number of people of Arab ancestry (8.1%), and residents who report Sub-Saharan African roots (6.5%), and some of the residents are also of English ancestry (3.6%), along with some Mexican ancestry residents (3.2%), among others. In addition, 56.4% of the residents of this neighborhood were born in another country.
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 Twin Oaks Village / West Oaks Village neighborhood spend between 30 and 45 minutes commuting one-way to work (43.9% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (86.7%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (5.3%) . 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.
