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.
Fordham median real estate price is $723,018, which is more expensive than 59.1% of the neighborhoods in New York and 83.5% of the neighborhoods in the U.S.
The average rental price in Fordham is currently $2,943, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 49.2% of New York neighborhoods.
Fordham is a densely urban neighborhood (based on population density) located in Bronx, New York.
Fordham real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the Fordham neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1970 and 1999.
Real estate vacancies in Fordham are 3.3%, which is lower than one will find in 78.5% of American neighborhoods. Demand for real estate in Fordham 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.
Real Estate
The real estate in the Fordham neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 100.0% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.9% of American neighborhoods.
In addition, what you'll find when you visit or move to this neighborhood is one of the most crowded neighborhoods in all of America. With an incredible 63,760 people per square mile, it is more densely populated than 99.0% of America's neighborhoods. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The Fordham neighborhood is among the top 5% of American neighborhoods in terms of walkability.
Furthermore, 95.5% of the real estate in the Fordham neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Also of note, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 82.8% of the residential real estate in the Fordham neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 99.8% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
Modes of Transportation
If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 48.3% of the Fordham neighborhood's commuters ride the train to and from work each day, which is more than we found in 99.3% of America's neighborhoods.
Car Ownership
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Fordham neighborhood have a highly unusual car ownership. 45.6% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.5% of U.S. neighborhoods.
Diversity
Did you know that the Fordham neighborhood has more Dominican and Sub-Saharan African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 29.2% of this neighborhood's residents have Dominican ancestry and 26.6% have Sub-Saharan African ancestry.
Fordham is also pretty special linguistically. Significantly, 6.6% of its residents five years old and above primarily speak French at home. While this may seem like a small percentage, it is higher than 98.3% of the neighborhoods in America.
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. More residents of the Fordham neighborhood live here today that also were living in this same neighborhood five years ago than is found in 97.7% 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 Fordham neighborhood has a greater percentage of residents born in another country (50.5%) than are found in 97.8% of all 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 Fordham neighborhood in Bronx are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 75.6% of U.S. neighborhoods. With 36.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 86.9% of U.S. neighborhoods.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the Fordham neighborhood, 32.2% 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 manufacturing and laborer occupations, with 27.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (26.8%), and 13.9% in executive, management, and professional 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 Fordham neighborhood is Spanish, spoken by 62.9% of households. Other important languages spoken here include English, French and African languages.
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 Fordham neighborhood in Bronx, NY, residents most commonly identify their ethnicity or ancestry as Dominican (29.2%). There are also a number of people of Sub-Saharan African ancestry (26.6%), and residents who report Puerto Rican roots (13.4%), and some of the residents are also of Mexican ancestry (11.5%), along with some Hungarian ancestry residents (1.4%), among others. In addition, 50.5% of the residents of this neighborhood were born in another country.
Getting to Work
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Fordham neighborhood spend between 30 and 45 minutes commuting one-way to work (32.5% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (48.3%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (22.0%) and 8.3% of residents also carpool with coworkers, friends, or neighbors for their daily commute. This neighborhood is distinguished by the high number of residents who take the train to work each day, which can be a very good way to get to work at a lower cost and with less pollution.
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.
