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.
Waterford Chase East median real estate price is $533,643, which is more expensive than 62.2% of the neighborhoods in Florida and 61.8% of the neighborhoods in the U.S.
The average rental price in Waterford Chase East is currently $3,628, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 86.6% of the neighborhoods in Florida.
Waterford Chase East is a suburban neighborhood (based on population density) located in Orlando, Florida.
Waterford Chase East real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and mobile homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Waterford Chase East neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
In Waterford Chase East, the current vacancy rate is 1.6%, which is a lower rate of vacancies than 88.4% of all neighborhoods in the U.S. This means that the housing supply in Waterford Chase East is very tight compared to the demand for property here.
Notable & Unique Neighborhood Characteristics
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
People
Of note is NeighborhoodScout's research finding that the Waterford Chase East 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 Waterford Chase East community truly stands out from the rest in this regard.
In addition, the Waterford Chase East 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 8.4% of family-friendly neighborhoods in the state of Florida. 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 college students.
Modes of Transportation
In the Waterford Chase East neighborhood, carpooling is still a popular way to get to and from work. NeighborhoodScout's analysis reveals that 27.8% of commuters carpool here, which is more than in 98.1% of all U.S. neighborhoods.
Real Estate
If you like the look and ambience of new homes and newly built neighborhoods, you will love the Waterford Chase East neighborhood. A whopping 72.4% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 96.0% of the neighborhoods in the U.S. Everything here just feels new.
Diversity
Did you know that the Waterford Chase East neighborhood has more Puerto Rican and Dominican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 27.8% of this neighborhood's residents have Puerto Rican ancestry and 7.4% have Dominican ancestry.
Waterford Chase East is also pretty special linguistically. Significantly, 1.4% of its residents five years old and above primarily speak Portuguese at home. While this may seem like a small percentage, it is higher than 96.2% of the neighborhoods in America.
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 Waterford Chase East neighborhood in Orlando are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 67.0% 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.
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 Waterford Chase East neighborhood, 29.1% 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 29.1% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (21.1%), and 20.7% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Waterford Chase East neighborhood is English, spoken by 59.3% of households. Some people also speak Spanish (30.9%).
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 Waterford Chase East neighborhood in Orlando, FL, residents most commonly identify their ethnicity or ancestry as Puerto Rican (27.8%). There are also a number of people of Asian ancestry (17.7%), and residents who report Dominican roots (7.4%), and some of the residents are also of South American ancestry (5.9%), along with some English ancestry residents (4.4%), among others. In addition, 18.3% 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 Waterford Chase East neighborhood spend between 30 and 45 minutes commuting one-way to work (35.9% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (64.2%) 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 (27.8%) . 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.
