This is a small community in a single neighborhood.
As throughout the site, some neighborhood-level data are reserved for subscribers.
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.
Waco is a very small town located in the state of Kentucky. With a population of 3,244 people and just one neighborhood, Waco is the 132nd largest community in Kentucky.
Waco real estate is some of the most expensive in Kentucky, although Waco house values don't compare to the most expensive real estate in the U.S.
Occupations and Workforce
Waco is neither predominantly blue-collar nor white-collar, instead having a mixed workforce of both blue-collar and white-collar jobs. Overall, Waco is a town of sales and office workers, service providers, and professionals. There are especially a lot of people living in Waco who work in office and administrative support (20.32%), sales jobs (10.77%), and management occupations (8.95%).
Also of interest is that Waco has more people living here who work in computers and math than 95% of the places in the US.
Telecommuters are a relatively large percentage of the workforce: 14.59% of people work from home. While this number may seem small overall, as a fraction of the total workforce it is high relative to the nation. These workers are often telecommuters who work in knowledge-based, white-collar professions. For example, Silicon Valley has large numbers of people who telecommute. Other at-home workers may be self-employed people who operate small businesses out of their homes.
Setting & Lifestyle
Overall, Waco’s crime rate is one of the lowest in the nation, which makes a great place to live if safety is an important concern.
It is a fairly quiet town because there are relatively few of those groups of people who have a tendency to be noisy. (Children, for example, often can't help themselves from being noisy, and being parents ourselves, we know!) Waco has relatively few families with children living at home, and is quieter because of it. Renters and college students, for their own reasons, can also be noisy. Waco has few renters and college students. But the biggest reason it is quieter in Waco than in most places in America, is that there are just simply fewer people living here. If you think trees make good neighbors, Waco may be for you.
Being a small town, Waco does not have a public transit system used by locals to get to and from work.
Demographics
The percentage of adults in Waco who are college-educated is close to the national average for all communities of 21.84%: 18.43% of the adults in Waco have a bachelor's degree or advanced degree.
The per capita income in Waco in 2018 was $29,662, which is upper middle income relative to Kentucky, and middle income relative to the rest of the US. This equates to an annual income of $118,648 for a family of four. However, Waco contains both very wealthy and poor people as well.
The people who call Waco home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Waco residents report their race to be White, followed by Black or African-American. Important ancestries of people in Waco include Irish, German, English, Italian, and Scots-Irish.
The most common language spoken in Waco is English. Other important languages spoken here include German/Yiddish and African languages.
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.
Occupations
The government often provides some of the more stable jobs in the economy. From local, to state, to federal government workers, the government can also be a major employer. What NeighborhoodScout's analysis revealed, is that the neighborhood in particular stands out when compared nationally for the proportion of its working residents who are employed by the government. At 18.3% of its workforce, this neighborhood has a greater concentration of government workers than 98.5% of 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 neighborhood in Waco are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 63.0% of U.S. neighborhoods. In addition, 8.5% 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 54.6% 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 neighborhood, 30.8% 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 29.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (20.8%), and 18.6% in manufacturing and laborer occupations.
Languages
The most common language spoken in the neighborhood is English, spoken by 99.2% of households.
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 neighborhood in Waco, KY, residents most commonly identify their ethnicity or ancestry as Irish (5.9%). There are also a number of people of German ancestry (4.8%), and residents who report English roots (2.9%), and some of the residents are also of Italian ancestry (1.5%).
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 neighborhood spend between 15 and 30 minutes commuting one-way to work (57.3% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (74.0%) 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 (11.4%) . 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.
