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.
Fays Corner / Las Haciendas Colonia median real estate price is $138,027, which is less expensive than 84.8% of Texas neighborhoods and 88.7% of all U.S. neighborhoods.
The average rental price in Fays Corner / Las Haciendas Colonia is currently $1,215, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 89.8% of Texas neighborhoods.
Fays Corner / Las Haciendas Colonia is a rural neighborhood (based on population density) located in Pharr, Texas.
Fays Corner / Las Haciendas Colonia real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Fays Corner / Las Haciendas Colonia neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.
In Fays Corner / Las Haciendas Colonia, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Fays Corner / Las Haciendas Colonia is very tight compared to the demand for property here.
Notable & Unique Neighborhood Characteristics
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
Real Estate
With a real estate vacancy rate of only 0.0%, the Fays Corner / Las Haciendas Colonia neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.
People
Whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the Fays Corner / Las Haciendas Colonia neighborhood has more single mother households than 99.6% of the neighborhoods in the U.S. Often high concentrations of single mother homes can be a strong indicator of family and social issues such as poverty, high rates of school dropouts, crime, and other societal problems.
In addition, one of the unique characteristics of the Fays Corner / Las Haciendas Colonia neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 97.7% of the neighborhoods in America. Also of note, 65.5% of the children in this area live in poverty; an extraordinarily high percentage compared to other neighborhoods in the nation. In a nation where approximately one in four children grows up in poverty, this neighborhood stands out for the depth of the problem manifested here.
Occupations
There are more people living in the Fays Corner / Las Haciendas Colonia neighborhood employed as sales and service workers (56.0%) than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.
Diversity
Did you know that the Fays Corner / Las Haciendas Colonia neighborhood has more Mexican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 94.7% of this neighborhood's residents have Mexican ancestry.
Fays Corner / Las Haciendas Colonia is also pretty special linguistically. Significantly, 97.0% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 100.0% 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 Fays Corner / Las Haciendas Colonia neighborhood in Pharr are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 97.7% of U.S. neighborhoods. With 65.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 97.9% of U.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 Fays Corner / Las Haciendas Colonia neighborhood, 44.0% 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 clerical, assistant, and tech support occupations, with 21.2% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (21.0%), and 13.9% in executive, management, and professional occupations.
Languages
The most common language spoken in the Fays Corner / Las Haciendas Colonia neighborhood is Spanish, spoken by 97.0% of households. Some people also speak English (3.0%).
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 Fays Corner / Las Haciendas Colonia neighborhood in Pharr, TX, residents most commonly identify their ethnicity or ancestry as Mexican (94.7%). There are also a number of people of Puerto Rican ancestry (4.2%). In addition, 33.0% 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 Fays Corner / Las Haciendas Colonia neighborhood spend between 15 and 30 minutes commuting one-way to work (45.2% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (57.1%) 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 (20.5%) . 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.
