Real Estate Marketing & Beyond
Choosing a home requires more than a keen eye for architecture or a good deal: the neighborhood is one of the essential factors that will ensure your long-term satisfaction.
Consider that a 2017 online survey conducted by Harris Poll among 2,264 U.S. adults reveals that nearly one-tenth of parents involved in the home selection process expressed regret about not having more information about the neighborhood before choosing their current home.
While surveys may not always apply to a particular homeowner's situation, they are indicative of trends. So, before committing, thorough neighborhood research is essential to avoid potential regrets.
When searching for the right neighborhood, budget constraints are usually the first consideration. Next, consider the convenience of reaching your workplace and frequent spots. After that, take into account the factors that determine your peace of mind and quality of life, such as safety, school performance, and proximity to essential services and amenities.
Walking around the area is often recommended to get a feel for the local vibe. Walking lets you fully experience the neighborhood and understand what living there might be like. Observe if sidewalks and parks are bustling with families or if people greet one another warmly. Check how pedestrian-friendly the area is for daily errands. Pay attention to local restaurants, stores, and recreational spots. You might also notice some downsides, such as street trash or heavy traffic making crossing difficult. If you value tranquility, listen for noise levels. If you have strong political preferences, look for yard signs to gauge the community's political climate.
While walking the area can be insightful, it’s just a glimpse and does not reveal the full essence of the neighborhood. You could also ask your real estate agent, landlord, or property manager for advice. However, queries such as "Which neighborhood has the lowest crime?" are off-limits for real estate professionals. Answering such questions may qualify as “steering,” which means discouraging a buyer from a property based on race, national origin, religion, sex, familial status, or disability, and is prohibited by the Fair Housing Act of 1968.
Using online resources like neighborhood information websites can save a lot of hassle in finding crime rates, demographic makeup, median household education and income, walkability ratings, school metrics, flooding potential, and more. As a result, more homebuyers are turning to these online resources as a crucial step in the process.
Three premier websites for evaluating neighborhood conditions include NeighborhoodScout, Maptimum, and AreaVibes. These platforms provide accurate and comprehensive data, helping users make informed decisions about their potential living environments.
Just as hiring a home inspector reveals potential issues within a house, these websites offer insights into possible problems in the surrounding area. Using these resources, potential buyers can thoroughly understand neighborhood dynamics before committing.
Since 2002, NeighborhoodScout has offered users extensive data on various neighborhoods across the United States, including crime statistics, school information, home appreciation values, and more. Gathering this information independently can be a slow process, but NeighborhoodScout streamlines it for you.
The insights from NeighborhoodScout are valuable for investors and landlords, regardless of property type, budget, or experience level. The challenge lies in effectively utilizing this data to enhance your business.
NeighborhoodScout can also help you learn more about a specific area rather than compare multiple neighborhoods.
Each report includes a unique, full-text description of the neighborhood, which covers real estate prices and distinctive characteristics like walkability, vacancy rates, household types, etc. You'll also find easy-to-read descriptions of local demographics, job access, and commuting issues.
While beneficial, the vast amount of data can be overwhelming, featuring over 600 data elements across six report categories. Additionally, some critical factors like natural disasters, air quality, and nearby sex offenders are missing. It's important to note that only rudimentary information is available for free. For comprehensive information, consider a subscription to NeighborhoodScout. Single reports cost $30, and a basic subscription is $112.50 per month.
Maptimum utilizes hyperlocal data, refreshed regularly by government bodies and reliable third-party sources, to deliver detailed reports for every corner of the United States. Users can access a wealth of information, including demographic and socioeconomic data at the census block level, election outcomes at the precinct level, and pinpoint locations for sex offenders, car accidents, and public housing. Users can easily compare different areas side-by-side to make informed decisions.
The platform provides comprehensive insights into local demographics, economic positives, investment opportunities, and potential drawbacks. It offers a nuanced look at community dynamics that are especially valuable for families and future residents rather than investors and commercial buyers. Maptimum also includes data on neighborhoods' political and ideological leanings, a feature growing in importance in today's polarized environment.
Using AI technology, Maptimum transforms raw data into thorough reports, delivering actionable advice and personalized recommendations.
The platform assesses neighborhood fit for various lifestyles, gauges investment viability, and suggests nearby alternatives. The platform offers a complimentary report, with additional reports priced at $9.99 each, and discounts available for bulk purchases.
AreaVibes helps individuals pinpoint the best places to live by analyzing critical data. It evaluates various aspects of cities and neighborhoods like crime rates, school quality, amenities, and the local housing market. Each location receives a livability score from zero to 100. It features homes and apartments for sale or rent and provides detailed information aimed at potential new residents. Current residents can also utilize AreaVibes to monitor ongoing trends in crime rates, the housing market, and local schools. AreaVibes allows users to share their experiences, making it a platform for promoting communities and highlighting local issues.
Unlike other platforms like NeighborhoodScout, AreaVibes is entirely free to use. Users can filter locations by factors such as crime rates, school quality, and home prices, allowing for easy comparisons tailored to individual needs. But, as with any free tool, it has some limitations, lacking some of the advanced features of paid alternatives. Data may also only sometimes be the most recent since it relies on national sources rather than local ones.
Overall, AreaVibes offers an overview based on national, state, and local statistics, which may need more specifics. Additionally, extensive real estate listings displayed on the website can be distracting.
| NeighborhoodScout | Maptimum | AreaVibes | |
| Sample | Report | Report | Report |
| Demographics and Socioeconomics | Very Detailed | Detailed | Basics |
| Housing | Detailed | Detailed | Basics |
| Crime and Safety | Crime indexes relative to state and national | Crime indexes relative to national Registered sex offenders Car accidents and DUIs | Crime frequencies relative to national |
| Schools | Detailed Public School | Detailed Public Schools Charter and Private schools | Basic Public schools |
| Trends and Forecasts | Multiple-period forecasts | 5-year forecasts | - |
| Natural Hazards (Earthquake, Flood) | - | Earthquake risk Flood Map | - |
| Air Quality, Noise Pollution | - | Detailed | Basic |
| Walkability and Transit | Yes | Yes | Yes |
| Politics | - | Yes | - |
| Amenities (nearby hospitals, grocery stores, …) | - | - | Yes |
| Summary Scores | Rising Star Score Blue Chip Index | Desirability Score Bang for the Buck Score | Livability Score |
| Personalized Report | - | Personalized based on the user’s household type and stated preferences | - |
| Price | $30 per report. $112.50 monthly subscription. | $9.99 per report Discount on multiple reports. No ads. | Free. Has Ads |
| Verdict | Best for commercial/investment buyers | Best for families and primary residence buyers | Best for cursory overview of the area to see if it’s worth further consideration |
In closing, the popularity of websites offering hyperlocal data for choosing future neighborhoods is growing. This article examines three websites that could be valuable tools for exploring various areas.
Maptimum excels by offering detailed information, actionable advice, and affordability. It's a good choice for families and those buying their primary residence. Key details such as nearby sex offenders, air quality, and political leanings are beneficial.
NeighborhoodScout stands out for investment and commercial buyers. It provides thorough forecasts of future value and rent appreciation, helping investors find the proper location. However, buyers should remember that these forecasts rely on recent trends and cannot account for external factors like policy changes.
AreaVibes offers a quick overview of areas, helping users decide if further research is warranted.
These tools simplify evaluating neighborhood options, enabling well-informed decisions based on comprehensive information.
