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.
Cornerstone Place / Chesterfield median real estate price is $512,385, which is more expensive than 82.8% of the neighborhoods in Texas and 67.2% of the neighborhoods in the U.S.
The average rental price in Cornerstone Place / Chesterfield is currently $1,636, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 61.3% of Texas neighborhoods.
Cornerstone Place / Chesterfield is an urban neighborhood (based on population density) located in Katy, Texas.
Cornerstone Place / Chesterfield real estate is primarily made up of large (four, five or more bedroom) to medium sized (three or four 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 Cornerstone Place / Chesterfield 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.
In Cornerstone Place / Chesterfield, the current vacancy rate is 1.8%, which is a lower rate of vacancies than 87.6% of all neighborhoods in the U.S. This means that the housing supply in Cornerstone Place / Chesterfield 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 Katy, the Cornerstone Place / Chesterfield neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
Most neighborhoods are composed of a mixture of ages of homes, but the Cornerstone Place / Chesterfield 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, 86.5% of the residential real estate here was built in this one time period.
Occupations
From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the Cornerstone Place / Chesterfield neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 96.7% of all American neighborhoods.
People
Priests and therapists would like to think they know the secrets to a truly successful marriage, but according to NeighborhoodScout's research, the folks of the Cornerstone Place / Chesterfield neighborhood may actually hold the key. 70.4% of its residents are married, which is a higher percentage than is found in 96.6% of the neighborhoods in America.
In addition, of note, 56.4% of the children in this area live in poverty; an extraordinarily high percentage compared to other neighborhoods in the nation. In a nation where approximately one in four children grows up in poverty, this neighborhood stands out for the depth of the problem manifested here.
Diversity
Did you know that the Cornerstone Place / Chesterfield neighborhood has more British and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.7% of this neighborhood's residents have British ancestry and 6.7% have South American ancestry.
Cornerstone Place / Chesterfield is also pretty special linguistically. Significantly, 1.5% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 98.7% of the neighborhoods in America.
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 Cornerstone Place / Chesterfield neighborhood in Katy are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 66.6% of the neighborhoods in America. With 56.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 96.0% 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 Cornerstone Place / Chesterfield neighborhood, 40.3% 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 37.2% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (13.6%), and 8.8% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Cornerstone Place / Chesterfield neighborhood is English, spoken by 57.4% of households. Some people also speak Spanish (31.8%).
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 Cornerstone Place / Chesterfield neighborhood in Katy, TX, residents most commonly identify their ethnicity or ancestry as Mexican (14.1%). There are also a number of people of German ancestry (13.8%), and residents who report Asian roots (7.9%), and some of the residents are also of Irish ancestry (7.4%), along with some South American ancestry residents (6.7%), among others. In addition, 31.6% of the residents of this neighborhood were born in another country.
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 Cornerstone Place / Chesterfield neighborhood spend under 15 minutes commuting one-way to work (35.8% of working residents), one of the shortest commutes across America.
Here most residents (70.8%) 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 (14.5%) . 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.
