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.
Boone Furnace / Carter median real estate price is $163,418, which is more expensive than 33.4% of the neighborhoods in Kentucky and 17.6% of the neighborhoods in the U.S.
The average rental price in Boone Furnace / Carter is currently $1,456, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 43.3% of Kentucky neighborhoods.
Boone Furnace / Carter is a remote neighborhood (based on population density) located in Olive Hill, Kentucky.
Boone Furnace / Carter real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Boone Furnace / Carter 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 Boone Furnace / Carter. The current real estate vacancy rate here is 27.5%. This is higher than the rate of vacancies in 93.4% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually 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.
Modes of Transportation
While most Americans do drive to work alone each day, the Boone Furnace / Carter neighborhood stands out by having 94.4% of commuters doing so, which is a higher proportion of people driving alone to work than NeighborhoodScout found in 99.3% of all American neighborhoods.
Real Estate
The real estate in this neighborhood consists of more mobile homes than 97.8% of all neighborhoods in America, with 40.5% of the occupied housing here being classified as mobile homes. So if you are looking for a mobile home, or you like the look and feel of mobile home parks, this neighborhood might have the setting you desire.
In addition, uncrowded roads, rural America and space to be the individual you are. If you like these characteristics, this neighborhood may fit you. With just 22 residents per square mile, Boone Furnace / Carter is less crowded than 94.3% of all U.S. neighborhoods.
Occupations
It used to be that most Americans lived on the farm, or otherwise made their living from the land, the forests, or the sea. With global trade and an economy increasingly based on providing services to one another, fewer people farm, fish or harvest timber now than at any time in American history. But according to NeighborhoodScout's leading analysis, the Boone Furnace / Carter neighborhood stands apart from most American neighborhood due to the proportion of its residents still working in these fields. With 4.9% of the workforce so employed, this neighborhood has a greater concentration of such workers than 96.8% of U.S. neighborhoods.
Length of Commute
Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The Boone Furnace / Carter neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the Boone Furnace / Carter neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 9.6% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 95.0% of all neighborhoods in America.
People
If you're looking for a great spot to raise a family, then look no further than the Boone Furnace / Carter neighborhood. NeighborhoodScout's analysis found that the combination of good quality public schools, above-average safety from crime, and a high rate of home ownership in predominantly single-family homes, help make this neighborhood among the top 11.6% of family-friendly neighborhoods across the state of Kentucky. In addition, there are a high proportion of other families with school-aged children living here, making it easy for parents and their children to socialize and develop a sense of community support. In addition, families here highly value education, as is reflected by the strength of the local schools, in part due to the educational attainment of the parents here, who vote in support of the public schools.
Diversity
Did you know that the Boone Furnace / Carter neighborhood has more Scots-Irish and Welsh ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.5% of this neighborhood's residents have Scots-Irish ancestry and 3.9% have Welsh ancestry.
Migration / Stability
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Boone Furnace / Carter neighborhood. More residents of the Boone Furnace / Carter neighborhood live here today that also were living in this same neighborhood five years ago than is found in 98.6% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while.
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 Boone Furnace / Carter neighborhood in Olive Hill are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 65.3% of U.S. neighborhoods. With 17.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 64.9% 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 Boone Furnace / Carter neighborhood, 39.4% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 34.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (14.6%), and 7.1% in sales and service jobs, from major sales accounts, to working in fast food restaurants.
Languages
The most common language spoken in the Boone Furnace / Carter neighborhood is English, spoken by 99.7% 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 Boone Furnace / Carter neighborhood in Olive Hill, KY, residents most commonly identify their ethnicity or ancestry as English (22.7%). There are also a number of people of German ancestry (8.0%), and residents who report Irish roots (5.9%), and some of the residents are also of Scots-Irish ancestry (5.5%), along with some Welsh ancestry residents (3.9%), among others.
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 Boone Furnace / Carter neighborhood spend between 30 and 45 minutes commuting one-way to work (26.9% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods. However, there is also a significant group of residents (9.6%) who commute over an hour in each direction.
Here most residents (94.4%) 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.
