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.
Cross Key Waterways Estates / Largo Sound Park median real estate price is $699,162, which is more expensive than 79.2% of the neighborhoods in Florida and 77.6% of the neighborhoods in the U.S.
The average rental price in Cross Key Waterways Estates / Largo Sound Park is currently $2,685, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 42.5% of Florida neighborhoods.
Cross Key Waterways Estates / Largo Sound Park is a suburban neighborhood (based on population density) located in Key Largo, Florida. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Cross Key Waterways Estates / Largo Sound Park real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and mobile homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Cross Key Waterways Estates / Largo Sound 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.
Vacant apartments or homes are a major fact of life in Cross Key Waterways Estates / Largo Sound Park. The current real estate vacancy rate here is 40.8%. This is higher than the rate of vacancies in 97.8% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (36.3%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.
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 Key Largo, the Cross Key Waterways Estates / Largo Sound Park neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
Do you like a coastal setting? If so, this neighborhood may be to your liking. The Cross Key Waterways Estates / Largo Sound Park neighborhood is on the ocean, a bay, or inlet. Often such coastal places have amenities and recreational activities on the waterfront that are attractive to residents and visitors alike. In addition to being coastal, Cross Key Waterways Estates / Largo Sound Park is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.
In addition, despite all of the residential real estate here in the Cross Key Waterways Estates / Largo Sound Park neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 40.8%, which is higher than 97.8% of all U.S. neighborhoods.
People
Of note is NeighborhoodScout's research finding that the Cross Key Waterways Estates / Largo Sound Park neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Cross Key Waterways Estates / Largo Sound Park community truly stands out from the rest in this regard.
In addition, if you're planning where to retire, the Cross Key Waterways Estates / Largo Sound Park neighborhood in Key Largo 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 FL, 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 89.2% of the neighborhoods in Florida. If you are considering retiring to Florida, this is a good neighborhood to look at.
Occupations
From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the Cross Key Waterways Estates / Largo Sound Park neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 96.4% of all American neighborhoods.
Diversity
Did you know that the Cross Key Waterways Estates / Largo Sound Park neighborhood has more Cuban and Lithuanian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 20.9% of this neighborhood's residents have Cuban ancestry and 1.2% have Lithuanian ancestry.
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 Cross Key Waterways Estates / Largo Sound Park neighborhood in Key Largo are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 42.4% of the neighborhoods in America. In addition, 0.0% 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 100.0% 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 Cross Key Waterways Estates / Largo Sound Park neighborhood, 39.1% 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 31.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (17.8%), and 11.1% in manufacturing and laborer occupations.
Languages
The most common language spoken in the Cross Key Waterways Estates / Largo Sound Park neighborhood is English, spoken by 69.5% of households. Some people also speak Spanish (30.0%).
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 Cross Key Waterways Estates / Largo Sound Park neighborhood in Key Largo, FL, residents most commonly identify their ethnicity or ancestry as Cuban (20.9%). There are also a number of people of Irish ancestry (15.6%), and residents who report English roots (11.7%), and some of the residents are also of German ancestry (9.6%), along with some French ancestry residents (5.6%), among others. In addition, 28.2% 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 Cross Key Waterways Estates / Largo Sound Park neighborhood spend under 15 minutes commuting one-way to work (31.6% of working residents), one of the shortest commutes across America.
Here most residents (70.3%) 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 (21.3%) . 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.
