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.
Treasure Island median real estate price is $555,563, which is more expensive than 72.7% of the neighborhoods in Florida and 73.7% of the neighborhoods in the U.S.
The average rental price in Treasure Island is currently $3,736, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 85.7% of the neighborhoods in Florida.
Treasure Island is a densely urban neighborhood (based on population density) located in North Bay Village, Florida. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Treasure Island real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four 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 Treasure Island neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
Vacant apartments or homes are a major fact of life in Treasure Island. The current real estate vacancy rate here is 20.5%. This is higher than the rate of vacancies in 87.4% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.
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 North Bay Village, the Treasure Island neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
If you like crowded places, then you will probably enjoy the the Treasure Island neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 95.2% of neighborhoods in the U.S., with 21,158 people per square mile living here. Treasure Island is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, Treasure Island is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.
In addition, the Treasure Island 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 90.7% 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.
Furthermore, the real estate in the Treasure Island 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, 87.8% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 97.9% of American neighborhoods.
People
One of the really interesting characteristics about the Treasure Island neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 1.2% of college-friendly places to live in the state of Florida.
Modes of Transportation
In the Treasure Island neighborhood, carpooling is still a popular way to get to and from work. NeighborhoodScout's analysis reveals that 26.8% of commuters carpool here, which is more than in 97.9% of all U.S. neighborhoods.
Diversity
Did you know that the Treasure Island neighborhood has more South American and Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 36.1% of this neighborhood's residents have South American ancestry and 9.2% have Arab ancestry.
Treasure Island is also pretty special linguistically. Significantly, 9.4% 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 99.5% 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. What is interesting to note, is that the Treasure Island neighborhood has a greater percentage of residents born in another country (58.0%) than are found in 99.0% 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 Treasure Island neighborhood in North Bay Village are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 49.2% of the neighborhoods in America. In addition, 8.7% 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 53.9% of America'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 Treasure Island neighborhood, 30.6% 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 30.5% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (23.4%), and 15.4% 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 Treasure Island neighborhood is Spanish, spoken by 65.2% of households. Other important languages spoken here include English, Arabic, Portuguese and Italian.
Ethnicity / Ancestry
Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.
In the Treasure Island neighborhood in North Bay Village, FL, residents most commonly identify their ethnicity or ancestry as South American (36.1%). There are also a number of people of Cuban ancestry (18.3%), and residents who report Arab roots (9.2%), and some of the residents are also of Italian ancestry (4.4%), along with some Puerto Rican ancestry residents (4.0%), among others. In addition, 58.0% 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 Treasure Island neighborhood spend between 30 and 45 minutes commuting one-way to work (33.8% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (50.3%) 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 (26.8%) . 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.
