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.
Plano Pkwy / Destination Dr median real estate price is $824,403, which is more expensive than 95.7% of the neighborhoods in Texas and 85.2% of the neighborhoods in the U.S.
The average rental price in Plano Pkwy / Destination Dr is currently $2,565, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 84.8% of the neighborhoods in Texas.
Plano Pkwy / Destination Dr is a suburban neighborhood (based on population density) located in The Colony, Texas.
Plano Pkwy / Destination Dr 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 owner occupied. Many of the residences in the Plano Pkwy / Destination Dr neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
Plano Pkwy / Destination Dr has a 12.7% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 73.0% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
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.
People
In a nation where 1 out of every 4 children lives in poverty, the Plano Pkwy / Destination Dr neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 59.8%. This is a higher percent living alone than we found in 98.7% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.
Also, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 78.0% of the adults living in the Plano Pkwy / Destination Dr neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 97.0% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
Finally, if you're looking for an active nightlife with lots of opportunities to flirt and find romance, then you probably won't have to go too far from the Plano Pkwy / Destination Dr neighborhood to find it. Only 3.2% of the neighborhoods in the country have a larger proportion of young, single professionals. The nightlife may not be reminiscent of a "Sex and the City" episode, but the people who live here find friendship, romance, fun, and socializing readily available. In addition to being an excellent choice for young, single professionals, this neighborhood is also a very good choice for highly educated executives.
Real Estate
If you like the look and ambience of new homes and newly built neighborhoods, you will love the Plano Pkwy / Destination Dr neighborhood. A whopping 98.1% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 99.9% of the neighborhoods in the U.S. Everything here just feels new. 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, 85.1% of the real estate in the Plano Pkwy / Destination Dr neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
Diversity
Did you know that the Plano Pkwy / Destination Dr neighborhood has more Slovak and Ukrainian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.7% of this neighborhood's residents have Slovak ancestry and 1.8% have Ukrainian ancestry.
Plano Pkwy / Destination Dr is also pretty special linguistically. Significantly, 7.8% of its residents five years old and above primarily speak Langs. of India at home. While this may seem like a small percentage, it is higher than 98.7% 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 Plano Pkwy / Destination Dr neighborhood in The Colony are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 74.3% 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.
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 Plano Pkwy / Destination Dr neighborhood, 64.9% 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 21.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (10.1%), and 3.7% 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 Plano Pkwy / Destination Dr neighborhood is English, spoken by 83.7% of households. Other important languages spoken here include Langs. of India, Chinese and Spanish.
Ethnicity / Ancestry
Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.
In the Plano Pkwy / Destination Dr neighborhood in The Colony, TX, residents most commonly identify their ethnicity or ancestry as Irish (20.8%). There are also a number of people of Asian ancestry (19.8%), and residents who report Italian roots (11.2%), and some of the residents are also of German ancestry (10.6%), along with some Scottish ancestry residents (4.6%), among others. In addition, 15.8% 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 Plano Pkwy / Destination Dr neighborhood spend between 15 and 30 minutes commuting one-way to work (61.2% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (63.3%) 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.
