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.
Holiday Village median real estate price is $490,899, which is more expensive than 36.4% of the neighborhoods in New Jersey and 65.4% of the neighborhoods in the U.S.
The average rental price in Holiday Village is currently $4,142, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 81.8% of the neighborhoods in New Jersey.
Holiday Village is a suburban neighborhood (based on population density) located in Mount Laurel, New Jersey.
Holiday Village real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Holiday Village 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 Holiday Village, 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 Holiday Village is very tight compared to the demand for property here.
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
Of note is NeighborhoodScout's research finding that the Holiday Village neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Holiday Village community truly stands out from the rest in this regard.
In addition, think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the Holiday Village neighborhood: a neighborhood in which more "urban sophisticates" live than 95.3% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for active retirees.
Real Estate
Most neighborhoods are composed of a mixture of ages of homes, but the Holiday Village 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, 92.6% of the residential real estate here was built in this one time period.
In addition, owner-occupied real estate dominates the Holiday Village neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 97.5% of neighborhoods in America.
Diversity
Did you know that the Holiday Village neighborhood has more Hungarian and Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.2% of this neighborhood's residents have Hungarian ancestry and 1.4% have Armenian ancestry.
Holiday Village is also pretty special linguistically. Significantly, 2.1% of its residents five years old and above primarily speak Greek at home. While this may seem like a small percentage, it is higher than 99.2% 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 Holiday Village neighborhood in Mount Laurel are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 88.8% 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.
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 Holiday Village neighborhood, 65.6% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 16.2% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (11.4%), and 6.7% 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 Holiday Village neighborhood is English, spoken by 93.8% of households. Other important languages spoken here include Polish, Greek and Spanish.
Ethnicity / Ancestry
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the Holiday Village neighborhood in Mount Laurel, NJ, residents most commonly identify their ethnicity or ancestry as Irish (22.6%). There are also a number of people of Italian ancestry (22.2%), and residents who report German roots (18.5%), and some of the residents are also of English ancestry (16.6%), along with some Polish ancestry residents (7.7%), 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 Holiday Village neighborhood spend between 15 and 30 minutes commuting one-way to work (44.5% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (73.3%) 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 (6.3%) . 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.
