In this article, we are going to show you how you can hone in on ideal neighborhoods for residential development using census projections and Housing and Urban Development indices. We are going to use projected population growth, median household income, school proficiency, and proximity to jobs, to find these ideal neighborhoods.
Site Identify's new scan function can help you target neighborhoods based on demographic, and other, characteristics. In this article, we are going to scan for target areas in the San Antonio, TX market.
First, we will open the scan function located on the left hand side of the tool bar. Second, we will click on the estimates and projections (red tab) to choose census data projections. In this section, we will want to search for block groups with a projected population growth of 10%. We will also want to look for areas with median household incomes of $50,000 or more. Once we have filled in this criteria, we will hit search to scan for these areas (see below).
Second, we will scroll down and click on the green tab to access HUD indices. These indices are percentiles between 1 and 100. Since we are looking for areas with decent schools and great access to employment, we will want to search for areas with schools that are ranked in the 75th percentile and above, and we will want to search for areas with job proximity ranked in the 90th percentile above. Once these are filled out we will want to again hit search. The areas that meet the criteria of the HUD indices will be outlined in green (see below).
Now we will want to see if the areas with high median household income and projected population growth overlap with the areas that have decent schools and great proximity to jobs. To do this we will click on the "Overlaps" symbol at the top of the scan bar (see below).
In this specific search, there are actually no overlaps in the San Antonio, TX market. That being said, we can still hone in on ideal neighborhoods. In this case, we have zoomed in on an area that met our criteria for schools and jobs that is surrounded by areas with high household incomes and projected population growth (see below).
If I click on the news articles in these areas, I can see pretty quickly that they are being targeted for residential development (see below).
The official Site Identify blog
David Morin (co-founder)