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.
Forbing Park / Wildwood Estates median real estate price is $798,785, which is more expensive than 85.0% of the neighborhoods in Arizona and 81.8% of the neighborhoods in the U.S.
The average rental price in Forbing Park / Wildwood Estates is currently $2,856, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 70.4% of the neighborhoods in Arizona.
Forbing Park / Wildwood Estates is a rural neighborhood (based on population density) located in Prescott, Arizona.
Forbing Park / Wildwood Estates real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the Forbing Park / Wildwood Estates neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
Forbing Park / Wildwood Estates has a 9.8% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 62.2% of American neighborhoods). A relatively large percentage of housing here is seasonally occupied (9.4%), which can occur in some markets dominated by colleges or vacation homes. If you live here year round, you will find many of the homes or apartments are empty for all or a portion of the year.
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 Prescott, the Forbing Park / Wildwood Estates neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
Of note is NeighborhoodScout's research finding that the Forbing Park / Wildwood Estates neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Forbing Park / Wildwood Estates community truly stands out from the rest in this regard.
In addition, if you're nearing retirement age, or in retirement, the Forbing Park / Wildwood Estates is an excellent choice for you to consider for top-quality retirement living. This neighborhood is rated by NeighborhoodScout as among the top 5.5% of retiree-friendly neighborhoods in Arizona, combining peace and quiet, safety from crime, and offering diverse housing options from which retirees can choose. Maybe it's because of these amenities that a large proportion of the residents here are college educated seniors, mixed with other age groups. For these and other reasons, NeighborhoodScout identifies this neighborhood as a top-notch place to consider if you are thinking of or planning to retire in Arizona. In addition to being an excellent choice for active retirees, this neighborhood is also a very good choice for urban sophisticates.
Real Estate
The Forbing Park / Wildwood Estates neighborhood has earned the amazing distinction of having one of the highest rates of detached, single-family homes of any neighborhood in the U.S. With 97.7% of the residential real estate here made up of free-standing single-family homes, there is a greater proportion of single-family homes here than in 95.9% of all neighborhoods in America.
Diversity
Did you know that the Forbing Park / Wildwood Estates neighborhood has more English and Scottish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 24.8% of this neighborhood's residents have English ancestry and 5.8% have Scottish ancestry.
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 Forbing Park / Wildwood Estates neighborhood in Prescott are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 69.7% 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 Forbing Park / Wildwood Estates neighborhood, 56.6% 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 24.7% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (10.8%), and 7.9% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Forbing Park / Wildwood Estates neighborhood is English, spoken by 87.9% of households. Some people also speak Spanish (9.0%).
Ethnicity / Ancestry
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the Forbing Park / Wildwood Estates neighborhood in Prescott, AZ, residents most commonly identify their ethnicity or ancestry as English (24.8%). There are also a number of people of Irish ancestry (22.1%), and residents who report German roots (19.0%), and some of the residents are also of Puerto Rican ancestry (9.4%), along with some Scottish ancestry residents (5.8%), 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 Forbing Park / Wildwood Estates neighborhood spend under 15 minutes commuting one-way to work (40.6% of working residents), one of the shortest commutes across America.
Here most residents (67.6%) 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 (15.3%) and 9.3% of residents also hop out the door and walk to work 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.
