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.
Fairmount median real estate price is $159,993, which is less expensive than 98.6% of Connecticut neighborhoods and 86.9% of all U.S. neighborhoods.
The average rental price in Fairmount is currently $1,414, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 97.2% of Connecticut neighborhoods.
Fairmount is a suburban neighborhood (based on population density) located in Waterbury, Connecticut.
Fairmount 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 renter occupied. Many of the residences in the Fairmount 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 Fairmount, 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 Fairmount 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 Waterbury, the Fairmount 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 Fairmount 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.
People
Whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the Fairmount neighborhood has more single mother households than 99.6% of the neighborhoods in the U.S. Often high concentrations of single mother homes can be a strong indicator of family and social issues such as poverty, high rates of school dropouts, crime, and other societal problems.
In addition, the Fairmount neighborhood has a greater percentage of children living in poverty (62.6%) than found in 97.5% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.
Modes of Transportation
Our research revealed that more commuters here take the bus to work (12.7% ride the bus) than 96.6% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.
Diversity
Did you know that the Fairmount neighborhood has more Puerto Rican and Dominican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 34.2% of this neighborhood's residents have Puerto Rican ancestry and 13.3% have Dominican 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 Fairmount neighborhood in Waterbury are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 91.0% of U.S. neighborhoods. With 62.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 97.5% of U.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 Fairmount neighborhood, 33.0% of the working population is employed in manufacturing and laborer 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 26.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (21.0%), and 19.2% in executive, management, and professional occupations.
Languages
The most common language spoken in the Fairmount neighborhood is English, spoken by 60.6% of households. Some people also speak Spanish (33.0%).
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 Fairmount neighborhood in Waterbury, CT, residents most commonly identify their ethnicity or ancestry as Puerto Rican (34.2%). There are also a number of people of Dominican ancestry (13.3%), and residents who report Italian roots (7.5%), and some of the residents are also of Irish ancestry (5.3%), along with some German ancestry residents (3.2%), among others. In addition, 12.4% 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 Fairmount neighborhood spend between 15 and 30 minutes commuting one-way to work (42.1% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (62.9%) 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 (14.2%) and 12.7% of residents also ride the bus for their daily commute. 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.
