This is a small community in a single neighborhood.
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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.
Preston Hollow is a very small town located in the state of New York. With a population of 1,821 people and just one neighborhood, Preston Hollow is the 626th largest community in New York.
Occupations and Workforce
Unlike some towns, Preston Hollow isn’t mainly white- or blue-collar. Instead, the most prevalent occupations for people in Preston Hollow are a mix of both white- and blue-collar jobs. Overall, Preston Hollow is a town of sales and office workers, professionals, and managers. There are especially a lot of people living in Preston Hollow who work in sales jobs (25.74%), office and administrative support (10.41%), and management occupations (10.08%).
Of important note, Preston Hollow is also a town of artists. Preston Hollow has more artists, designers and people working in media than 90% of the communities in America. This concentration of artists helps shape Preston Hollow’s character.
A relatively large number of people in Preston Hollow telecommute to their jobs. Overall, about 10.87% of the workforce works from home. While this may seem like a small number, as a fraction of the total workforce it ranks among the highest in the country. These workers are often telecommuters who work in knowledge-based, white-collar professions. For example, Silicon Valley has large numbers of people who telecommute. Other at-home workers may be self-employed people who operate small businesses out of their homes.
Setting & Lifestyle
It is a fairly quiet town because there are relatively few of those groups of people who have a tendency to be noisy. (Children, for example, often can't help themselves from being noisy, and being parents ourselves, we know!) Preston Hollow has relatively few families with children living at home, and is quieter because of it. Renters and college students, for their own reasons, can also be noisy. Preston Hollow has few renters and college students. But the biggest reason it is quieter in Preston Hollow than in most places in America, is that there are just simply fewer people living here. If you think trees make good neighbors, Preston Hollow may be for you.
One downside of living in Preston Hollow is that it can take a long time to commute to work. In Preston Hollow, the average commute to work is 32.00 minutes, which is quite a bit higher than the national average.
Being a small town, Preston Hollow does not have a public transit system used by locals to get to and from work.
Demographics
The citizens of Preston Hollow are very well educated compared to the average community in the nation: 37.46% of adults in Preston Hollow have a bachelor's degree or even advanced degree.
The per capita income in Preston Hollow in 2018 was $51,161, which is upper middle income relative to New York, and wealthy relative to the rest of the US. This equates to an annual income of $204,644 for a family of four. However, Preston Hollow contains both very wealthy and poor people as well.
The people who call Preston Hollow home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Preston Hollow residents report their race to be White, followed by Black or African-American. Important ancestries of people in Preston Hollow include Irish, German, Italian, English, and Swedish.
The most common language spoken in Preston Hollow is English. Other important languages spoken here include Italian and Slavic languages.
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
Unpopulated, and rural, the neighborhood is one of the least crowded neighborhoods in all of America. If you like open space, no traffic, and lots of room, this neighborhood may be just what you are looking for. According to NeighborhoodScout's leading research, this neighborhood is less densely populated than 92.8% of the neighborhoods in America. One of the notable things about is that it is one of the quietest neighborhoods in America, according to NeighborhoodScout's exclusive analysis and quantitative rating of quietness. When you are here, you will find it to be very quiet. If quiet and peaceful are your cup of tea, you may have found a great place for you.
In addition, owner-occupied real estate dominates the neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 98.1% of neighborhoods in America. Vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 33.6% of the residential real estate vacant, the neighborhood claims the distinction of having a higher vacancy rate than 96.0% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.
People
If you're planning where to retire, the neighborhood in Preston Hollow 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 NY, 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 86.5% of the neighborhoods in New York. If you are considering retiring to New York, this is a good neighborhood to look at.
Diversity
Did you know that the neighborhood has more Lithuanian and Dutch ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.7% of this neighborhood's residents have Lithuanian ancestry and 5.1% have Dutch 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 neighborhood in Preston Hollow are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 73.1% of the neighborhoods in America. In addition, 10.1% 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 50.5% 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 neighborhood, 40.6% 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 31.8% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (16.3%), and 11.3% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the neighborhood is English, spoken by 97.3% of households.
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 neighborhood in Preston Hollow, NY, residents most commonly identify their ethnicity or ancestry as Irish (24.1%). There are also a number of people of German ancestry (22.9%), and residents who report Italian roots (15.9%), and some of the residents are also of English ancestry (9.5%), along with some Swedish ancestry residents (5.3%), 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 neighborhood spend between 15 and 30 minutes commuting one-way to work (36.1% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (80.1%) 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 (7.9%) . 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.
