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.
Irvine Blvd / Market Pl median real estate price is $1,415,142, which is more expensive than 85.4% of the neighborhoods in California and 97.0% of the neighborhoods in the U.S.
The average rental price in Irvine Blvd / Market Pl is currently $4,323, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 82.7% of the neighborhoods in California.
Irvine Blvd / Market Pl is an urban neighborhood (based on population density) located in Irvine, California.
Irvine Blvd / Market Pl real estate is primarily made up of small (studio to two bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Irvine Blvd / Market Pl neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
In Irvine Blvd / Market Pl, the current vacancy rate is 1.9%, which is a lower rate of vacancies than 87.0% of all neighborhoods in the U.S. This means that the housing supply in Irvine Blvd / Market Pl 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 Irvine, the Irvine Blvd / Market Pl neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
Astoundingly, the Irvine Blvd / Market Pl neighborhood has one of the highest concentrations of divorcees living here than of any neighborhood, a higher concentration than NeighborhoodScout found in 100.0% of U.S. neighborhoods. This may be because people living here divorce more often than others, or that divorced people move here after they become divorced. If you are divorced, you will be in good company in this particular Irvine neighborhood.
Real Estate
The Irvine Blvd / Market Pl neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 100.0% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
In addition, renter-occupied real estate is dominant in the Irvine Blvd / Market Pl neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 100.0%, which is higher than 99.3% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.
Furthermore, homes built from 2000 through today make up a higher proportion of the Irvine Blvd / Market Pl neighborhood's real estate landscape than 97.8% 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, 82.9% of the residential real estate here is classified as newer. In fact, the concentration of newer homes here is so great that they completely dominate the landscape. In most neighborhoods, there is a mixture of ages of residential real estate, but here it is almost completely built during one time frame: 2000 through today.
Also of note, the real estate in the Irvine Blvd / Market Pl 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, 83.5% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 97.2% of American neighborhoods.
Occupations
From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the Irvine Blvd / Market Pl neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 98.5% of all American neighborhoods.
Diversity
Did you know that the Irvine Blvd / Market Pl neighborhood has more Canadian and Brazilian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 8.1% of this neighborhood's residents have Canadian ancestry and 10.9% have Brazilian ancestry.
Irvine Blvd / Market Pl is also pretty special linguistically. Significantly, 8.4% of its residents five years old and above primarily speak Arabic at home. While this may seem like a small percentage, it is higher than 99.4% of the neighborhoods in America.
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 Irvine Blvd / Market Pl neighborhood in Irvine are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 43.0% of the neighborhoods in America. In addition, 1.9% 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 75.5% 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 Irvine Blvd / Market Pl neighborhood, 44.8% 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 29.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (13.7%), and 12.2% in manufacturing and laborer 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 Irvine Blvd / Market Pl neighborhood is English, spoken by 57.3% of households. Other important languages spoken here include Spanish, French, Arabic and Langs. of India.
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 Irvine Blvd / Market Pl neighborhood in Irvine, CA, residents most commonly identify their ethnicity or ancestry as Asian (19.2%). There are also a number of people of Arab ancestry (14.0%), and residents who report Brazilian roots (10.9%), and some of the residents are also of Canadian ancestry (8.1%), along with some English ancestry residents (8.1%), among others. In addition, 25.5% 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 Irvine Blvd / Market Pl neighborhood spend between 30 and 45 minutes commuting one-way to work (47.4% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (78.8%) 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.
