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.
Paloma Lake / Siena median real estate price is $522,303, which is more expensive than 82.8% of the neighborhoods in Texas and 66.5% of the neighborhoods in the U.S.
The average rental price in Paloma Lake / Siena is currently $3,628, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 97.5% of the neighborhoods in Texas.
Paloma Lake / Siena is a suburban neighborhood (based on population density) located in Round Rock, Texas.
Paloma Lake / Siena real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the Paloma Lake / Siena neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
In Paloma Lake / Siena, the current vacancy rate is 0.7%, which is a lower rate of vacancies than 92.2% of all neighborhoods in the U.S. This means that the housing supply in Paloma Lake / Siena 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.
Real Estate
Homes built from 2000 through today make up a higher proportion of the Paloma Lake / Siena neighborhood's real estate landscape than 99.9% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 99.0% of the residential real estate here is classified as newer. In fact, the concentration of newer homes here is so great that they completely dominate the landscape. In most neighborhoods, there is a mixture of ages of residential real estate, but here it is almost completely built during one time frame: 2000 through today.
In addition, the Paloma Lake / Siena neighborhood has earned the amazing distinction of having one of the highest rates of detached, single-family homes of any neighborhood in the U.S. With 99.7% of the residential real estate here made up of free-standing single-family homes, there is a greater proportion of single-family homes here than in 98.6% of all neighborhoods in America.
Furthermore, one way that the Paloma Lake / Siena neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 97.3% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.
Modes of Transportation
A unique way of commuting is simply not to. And in the Paloma Lake / Siena neighborhood, analysis shows that 28.0% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 95.7% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
People
The Paloma Lake / Siena 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 5.6% of family-friendly neighborhoods in the state of Texas. 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 highly educated executives and college students.
Diversity
Did you know that the Paloma Lake / Siena neighborhood has more Welsh ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.2% of this neighborhood's residents have Welsh ancestry.
Paloma Lake / Siena is also pretty special linguistically. Significantly, 3.6% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 97.7% of the neighborhoods in America.
The Neighbors
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the Paloma Lake / Siena neighborhood in Round Rock are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 93.5% of the neighborhoods in America. In addition, 2.2% 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 74.3% 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 Paloma Lake / Siena neighborhood, 57.3% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 21.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (11.2%), and 9.6% in manufacturing and laborer 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 Paloma Lake / Siena neighborhood is English, spoken by 79.4% of households. Other important languages spoken here include Spanish and African languages.
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 Paloma Lake / Siena neighborhood in Round Rock, TX, residents most commonly identify their ethnicity or ancestry as German (14.6%). There are also a number of people of English ancestry (13.9%), and residents who report Asian roots (12.3%), and some of the residents are also of Mexican ancestry (10.5%), along with some Irish ancestry residents (8.2%), among others. In addition, 14.2% 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 Paloma Lake / Siena neighborhood spend between 30 and 45 minutes commuting one-way to work (33.1% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (61.0%) 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 (11.0%) . 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.
