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.
Terrace Gardens Park median real estate price is $279,171, which is more expensive than 48.9% of the neighborhoods in Texas and 35.8% of the neighborhoods in the U.S.
The average rental price in Terrace Gardens Park is currently $2,206, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 72.8% of the neighborhoods in Texas.
Terrace Gardens Park is a suburban neighborhood (based on population density) located in Temple, Texas.
Terrace Gardens Park 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 occupied by a mixture of owners and renters. Many of the residences in the Terrace Gardens Park neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
In Terrace Gardens Park, 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 Terrace Gardens Park is very tight compared to the demand for property here.
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 Temple, the Terrace Gardens Park neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
With a real estate vacancy rate of only 0.0%, the Terrace Gardens Park 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.
In addition, most neighborhoods are composed of a mixture of ages of homes, but the Terrace Gardens 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, 83.7% of the residential real estate here was built in this one time period.
People
Single parenting is hard. But you don't have to tell the Terrace Gardens Park neighborhood about it; they already know. 17.8% of this neighborhood's households are run by single mothers, which is a higher concentration than NeighborhoodScout found in 95.5% of American neighborhoods. Further NeighborhoodScout research showed strong statistical correlations among high rates of children living in single parent households, and neighborhood crime, particularly violent crime, neighborhood poverty, and, importantly, the percentage of low weight births and rates of infant mortality.
In addition, if you're planning where to retire, the Terrace Gardens Park neighborhood in Temple is a great option to consider. According to NeighborhoodScout's exclusive retirement dream area analysis, it's peaceful and quiet, has above average safety ratings compared to other neighborhoods in TX, offers a wide range of housing options, and has already attracted an enviable mix of college educated seniors. This neighborhood ranks as better for retirement living than 87.7% of the neighborhoods in Texas. If you are considering retiring to Texas, this is a good neighborhood to look at.
Diversity
Did you know that the Terrace Gardens Park neighborhood has more English and Irish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 25.8% of this neighborhood's residents have English ancestry and 26.9% have Irish ancestry.
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 Terrace Gardens Park neighborhood in Temple are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 61.8% of U.S. neighborhoods. With 44.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 91.5% 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 Terrace Gardens Park neighborhood, 41.6% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 19.9% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (19.3%), and 17.1% in sales and service jobs, from major sales accounts, to working in fast food restaurants.
Languages
The most common language spoken in the Terrace Gardens Park neighborhood is English, spoken by 93.7% of households. Some people also speak Spanish (4.3%).
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 Terrace Gardens Park neighborhood in Temple, TX, residents most commonly identify their ethnicity or ancestry as Irish (26.9%). There are also a number of people of Mexican ancestry (26.8%), and residents who report English roots (25.8%), and some of the residents are also of German ancestry (10.9%), along with some Italian ancestry residents (2.6%), among others.
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 Terrace Gardens Park neighborhood spend under 15 minutes commuting one-way to work (49.0% of working residents), one of the shortest commutes across America.
Here most residents (77.4%) 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 (12.3%) . 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.
