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.
Palm Lakes Industrial Park median real estate price is $794,864, which is more expensive than 87.2% of the neighborhoods in Florida and 84.4% of the neighborhoods in the U.S.
The average rental price in Palm Lakes Industrial Park is currently $2,783, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 43.8% of Florida neighborhoods.
Palm Lakes Industrial Park is an urban neighborhood (based on population density) located in Hialeah, Florida.
Palm Lakes Industrial Park 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 Palm Lakes Industrial Park 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.
Real estate vacancies in Palm Lakes Industrial Park are 5.2%, which is lower than one will find in 65.5% of American neighborhoods. Demand for real estate in Palm Lakes Industrial Park is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.
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 Hialeah, the Palm Lakes Industrial Park neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Modes of Transportation
While most Americans do drive to work alone each day, the Palm Lakes Industrial Park neighborhood stands out by having 93.5% of commuters doing so, which is a higher proportion of people driving alone to work than NeighborhoodScout found in 99.0% of all American neighborhoods.
Occupations
More people work in manufacturing and as laborers here in the Palm Lakes Industrial Park neighborhood than in 98.6% of the neighborhoods in America. Despite the loss of manufacturing jobs across the nation, this neighborhood remains a place where, compared to other parts of the country, you will find many laborers and manufacturers.
Real Estate
Most neighborhoods are composed of a mixture of ages of homes, but the Palm Lakes Industrial Park stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 83.9% of the residential real estate here was built in this one time period.
People
With a nice mix of college students, safety from crime, and decent walkability, the Palm Lakes Industrial Park neighborhood rates highly as a college student friendly place to live, and one that college students and their parents may want to consider. NeighborhoodScout's analysis shows that it rates more highly for a good place for college students to live than 89.4% of the neighborhoods in FL. This often also means that the area has certain amenities and services geared towards college students, from undergraduates to graduate students.
Diversity
Did you know that the Palm Lakes Industrial Park neighborhood has more Cuban and Dominican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 66.4% of this neighborhood's residents have Cuban ancestry and 4.7% have Dominican ancestry.
Palm Lakes Industrial Park is also pretty special linguistically. Significantly, 94.4% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 99.9% of all U.S. neighborhoods.
Migration / Stability
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. What is interesting to note, is that the Palm Lakes Industrial Park neighborhood has a greater percentage of residents born in another country (68.6%) than are found in 99.7% 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 Palm Lakes Industrial Park neighborhood in Hialeah are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 40.6% of the neighborhoods in America. In addition, 3.6% 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 69.3% 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 Palm Lakes Industrial Park neighborhood, 48.7% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 36.0% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (10.1%), and 5.3% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Palm Lakes Industrial Park neighborhood is Spanish, spoken by 94.4% of households. Some people also speak English (3.8%).
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 Palm Lakes Industrial Park neighborhood in Hialeah, FL, residents most commonly identify their ethnicity or ancestry as Cuban (66.4%). There are also a number of people of South American ancestry (7.0%), and residents who report Dominican roots (4.7%), and some of the residents are also of Asian ancestry (2.1%), along with some Puerto Rican ancestry residents (1.5%), among others. In addition, 68.6% 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 Palm Lakes Industrial Park neighborhood spend between 30 and 45 minutes commuting one-way to work (47.8% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (93.5%) drive alone in a private automobile to get to work. 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.
