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.
East Goshen / Terrace Park median real estate price is $241,044, which is more expensive than 56.6% of the neighborhoods in Indiana and 31.1% of the neighborhoods in the U.S.
The average rental price in East Goshen / Terrace Park is currently $1,617, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 69.0% of the neighborhoods in Indiana.
East Goshen / Terrace Park is a rural neighborhood (based on population density) located in Goshen, Indiana.
East Goshen / Terrace Park 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 occupied by a mixture of owners and renters. Many of the residences in the East Goshen / Terrace Park neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.
Home and apartment vacancy rates are 9.6% in East Goshen / Terrace Park. NeighborhoodScout analysis shows that this rate is lower than 40.1% of the neighborhoods in the nation, approximately near the middle range for vacancies.
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 Goshen, the East Goshen / Terrace Park neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Modes of Transportation
In the East Goshen / Terrace Park neighborhood, carpooling is still a popular way to get to and from work. NeighborhoodScout's analysis reveals that 27.6% of commuters carpool here, which is more than in 98.2% of all U.S. neighborhoods.
Also, would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the East Goshen / Terrace Park neighborhood is a fantastic option for bicycle commuters, as 3.1% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 96.0% of the neighborhoods in America.
People
There is an especially high percentage of incarcerated people (1.4%) living in the East Goshen / Terrace Park neighborhood.
Diversity
Did you know that the East Goshen / Terrace Park neighborhood has more Hungarian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.6% of this neighborhood's residents have Hungarian ancestry.
East Goshen / Terrace Park is also pretty special linguistically. Significantly, 2.2% of its residents five years old and above primarily speak German/Yiddish at home. While this may seem like a small percentage, it is higher than 96.9% 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 East Goshen / Terrace Park neighborhood in Goshen are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 71.4% of U.S. neighborhoods. With 21.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 71.0% 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 East Goshen / Terrace Park neighborhood, 34.8% 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 manufacturing and laborer occupations, with 30.9% of the residents employed. Other residents here are employed in executive, management, and professional occupations (23.8%), and 10.5% 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 East Goshen / Terrace Park neighborhood is English, spoken by 83.7% of households. Other important languages spoken here include Spanish, Polish and German/Yiddish.
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 East Goshen / Terrace Park neighborhood in Goshen, IN, residents most commonly identify their ethnicity or ancestry as German (15.3%). There are also a number of people of Mexican ancestry (15.0%), and residents who report English roots (9.5%), and some of the residents are also of Asian ancestry (4.6%), along with some Hungarian ancestry residents (4.6%), among others. In addition, 13.2% 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 East Goshen / Terrace Park neighborhood spend between 15 and 30 minutes commuting one-way to work (56.9% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (59.2%) 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 (27.6%) . 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.
