Our data are calculated and updated every three months for each geography, approximately two months after the end of the previous quarter. Neighborhood appreciation rate data are based on transactions involving conforming, conventional mortgages.
Conforming refers to a mortgage that both meets the underwriting guidelines of Fannie Mae or Freddie Mac and that doesn't exceed the conforming loan limit, a figure linked to an index published by the Federal Housing Finance Board.
Conventional means that the mortgages are neither insured nor guaranteed by the FHA, VA, or other federal government entity. Mortgages on properties financed by government-insured loans, such as FHA or VA mortgages, are excluded, as are properties with mortgages whose principal amount exceeds the conforming loan limit.
The average nearby price per square foot is based on other locations a short drive away from the neighborhood.
Then every neighborhood is ranked relative to both other neighborhoods in the region and all other neighborhoods in the nation. The average annual change in homeownership rates in the neighborhood during the latest five years. The market rental prices may be low, but are they going up?
We calculate rental price trends as the average annual change in market rent paid in the neighborhood over the latest 5 years. We measure the average annual increase or decrease in the percentage of college graduates living in a neighborhood over the most recent 5 years. College graduates are defined here as adults 25 and older with at least a 4-year college degree. We analyze school test performance for all schools that serve this location, and calculate the average annual increase or decrease in the school performance index, based on the percentage of students testing proficient or advanced in standardized testing.
We measure the average annual increase or decrease in per capita income in the neighborhood over the most recent 5 years. We measure the average annual increase or decrease in household income in the neighborhood over the most recent 5 years. We measure the average annual increase or decrease in unemployment in the neighborhood over the most recent 5 years. We then calculate the percentage change in population for each distance. This reveals trends in demand for real estate that can drive pricing, or reveal declines in demand, at every relevant distance from the subject location.
This provides context for comparing regional performance against historical benchmarking. As this ratio becomes high, it becomes more difficult for local wages to support housing prices. As the Index approaches historical highs, it can be a warning of an overheated housing market that may be due for a pricing correction.
Because demand varies from region to region and the proportion of household income expected to be spent on housing also varies greatly from region to region, the Scout Vision Housing Affordability Index is best used to compare affordability in a region over time to assess overheated markets, rather than using the Index to compare different regions at one point in time to assess market overheating. The Regional Housing Affordability Index is reassessed and recalculated annually.
Disclaimer Forecasts of potential occurrences or non-occurrences of future conditions and events are inherently uncertain. Actual results may differ materially from what is predicted in any information provided by Location Inc. Nothing contained in or generated by a Location Inc. No representation is made as to the accuracy of any forecast, estimate, or projection. Location Inc. All risks associated with using the site and the data are borne by the user at user's sole cost and expense.
By using the site you agree to our Terms of Use. This allows analysts to identify the most similar neighborhoods in a local market area for appraisals, investments, and research. The algorithm uses 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.
About Us. Philadelphia, PA Mayfair. Census tracts are small, relatively permanent subdivisions of a county that are defined by the U. 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, persons, but can range between 1, and 8, 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. If there was not a name available, we named the census tract by the largest street intersection in the census tract e. 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? Information at a glance that you need to know to invest, appraise or finance a property.
Unlock report. Already have an account? Log In New to NeighborhoodScout? Create an account to add this page to your saved places. By sending this Report you agree to NeighborhoodScout's. About Philadelphia, PA Mayfair. Overview Data Tutorial. Real Estate Prices and Overview.
Neighborhood Real Estate Data. Updated quarterly. Setting, Housing Stock, Homeownership: latest available. Average Home Values. Real Estate Tax Rate The average effective real estate tax rate is based on the median real estate taxes paid in the neighborhood, as a percentage of the median home value in the neighborhood. Median Home Value: Locked. Median Real Estate Taxes: Locked effective rate.
Neighborhood Home Prices. Rental Market. Gross Rental Yield Average annual rent as a percentage of property value. Population Density The look and feel of the neighborhood, from high rises on the coast, to rural farmlands. Neighborhood Look and Feel. Housing Market Details. Type of Homes These are the predominate forms of housing in the neighborhood.
Size of Homes The predominate size of homes in the neighborhood, based on the number of bedrooms. Special Purpose Housing These housing types are not for sale or for rent to the general public but may have a strong influence on the character of the neighborhood. Vacancy Trend The average annual change in the vacancy rate in the neighborhood during the latest five years. Neighborhood Demographics Data. Special character. Marital Status Marital status is defined based on the percentage of residents who are 18 and over.
Gender Ratio. Employment Industries in Mayfair. Commute to work. Vehicles Per Household The number of vehicles the average household in the neighborhood possesses is a function of wealth, space constraints, the age people of the household e.
Brighton St. Wellington St. Rawle St. Chippendale St. Fanshawe St. Gilham St. Ryan Ave. Englewood St. Erdrick St. Walker St. Cottage St. Welsh Rd. Jackson St. Solly Ave. Ditman St. Hellerman St. Friendship St. Hartel Ave. Meridian St. Nesper St. Fairview St. Stanwood St. Lansing St. Terry St. Decatur St. Windish St. Edmund St. Fuller St. Moro St. Ashville St. Arthur St. There are many community events that take place at the Mayfair Memorial Playground, like an Easter egg hunt for example.
In case you missed it, we found a few places where people are talking about things happening in Mayfair: Guy shot his AR A man fired his weapon in Northeast Philly, crashed his truck in Trevose, […].
Jim Ortlieb became active in his community in when graffiti began popping up on the backs of businesses on his block of Frankford Avenue.
At 19 years old, he took it upon himself to […]. It's walkable to restaurants. Car is needed. People would walk alone at night. Parking is easy. They plan to stay for at least 5 years. It's quiet. There are community events. Neighbors are friendly. There's wildlife. See All what locals say. Learn more about our methodology. Dog Owners. Trulia User. Resident 1y ago. And help keep the kids safe".
Lots of kids during school time but never any drama! Clean blocks! Nobody follows basic traffic laws or courtesy and everyone is in a rush for no reason. I will be moving as soon as humanly possible ". There are rec centers every mile or so so there is always sporting stuff going on!! I have too many super marker and plazas closer. Park and school. The people are very friendly. It's a nice area. Too many renters. No one cleans up outside their homes. Neighbors play loud music at all hours of the night.
Resident 2y ago. People here are so friendly and polite!
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