The trendiest up-and-coming neighborhoods

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Will one of these neighborhoods become the next Greenwich Village?

In every major American city there are neighborhoods that stand out as stalwarts of luxury and old money. Then there are those that once were cutting edge, but are now on the more expensive and conservative end of the spectrum. And then there are those neighborhoods that are the new kids on the block -- young, hip, up-and-coming and gaining momentum. Some may even become tomorrow's Greenwich Villages. But where are these neighborhoods?

NeighborhoodScout used its patented search engine to crunch the data and find these slices of geography within each of the 10 biggest Metropolitan cities in America that are now, or are poised to soon be, the hottest, trendiest neighborhoods in America. In all, 10,386 neighborhoods were analyzed, each within 20 miles of the center of America's 10 largest metropolitan areas.

In these neighborhoods houses and apartments are being fixed up or even going more upscale. Trendy clubs and restaurants are opening in or near them. These neighborhoods are educated, but not too educated. Professional, but not too "executive." Urban, but not urbane -- at least not yet. They are funky and, in some cases, still rough around the edges. They aren't the most expensive neighborhoods, but they could head that way depending on local dynamics. Each has its own unique history, culture, and scene. All are worth a look, or possibly a move, if trendy neighborhoods are for you, or for your investment dollars.

Here are the three hottest and trendiest neighborhoods in each of America's 10 big metros for 2010:



METRO AREA: NEW YORK, N.Y.


1. Houston St. / Ridge St.
(New York, N.Y.)
Median House Value: $422,055
Average Rental Cost: $1,451

2. Boardwalk / Coney Island Ave.
(Brooklyn, N.Y.)
Median House Value: $385,740
Average Rental Cost: $1,354

3. 45th St. / 10th Ave.
(New York, N.Y.)
Median House Value: $613,447
Average Rental Cost: $1,341


METRO AREA: LOS ANGELES, CALIF.

1. Sunset Blvd. / Vista St.
(Los Angeles, Calif.)
Median House Value: $504,943
Average Rental Cost: $1,537

2. Detroit St. / Wilshire Blvd.
(Los Angeles, Calif.)
Median House Value: $669,419
Average Rental Cost: $1,545

3. Santa Monica Blvd. / Barrington Ave.
(Los Angeles, Calif.)
Median House Value: $562,601
Average Rental Cost: $1,541


METRO AREA: CHICAGO, ILL.

1. Harper Ave. / 53rd St.
(Chicago, Ill.)
Median House Value: $128,281
Average Rental Cost: $874

2. Clarendon Ave. / Buena Ave.
(Chicago, Ill.)
Median House Value: $358,030
Average Rental Cost: $857

3. Greenwood Ave. / 55th St.
(Chicago, Ill.)
Median House Value: $333,799
Average Rental Cost: $921


METRO AREA: WASHINGTON, D.C.

1. 12th St. / V St.
(Washington, D.C.)
Median House Value: $704,503
Average Rental Cost: $1,970

2. K St. / 15th St.
(Washington, D.C.)
Median House Value: $202,857
Average Rental Cost: $1,899

3. 15th St. / Massachusetts Ave.
(Washington, D.C.)
Median House Value: $507,857
Average Rental Cost: $2,009


METRO AREA: BOSTON, MASS.

1. Park Dr. / Boylston St.
(Boston, Mass.)
Median House Value: $278,205
Average Rental Cost: $1,523

2. Washington St. / Msgr. William Casey Hwy.
(Boston, Mass.)
Median House Value: $356,317
Average Rental Cost: $1,182

3. Shawmut Ave. / Newton St.
(Boston, Mass.)
Median House Value: $681,273
Average Rental Cost: $1,203


METRO AREA: SAN FRANCISCO, CALIF.

1. Sutter St. / Jones St.
(San Francisco, Calif.)
Median House Value: $584,686
Average Rental Cost: $1,188

2. Grand Ave. / Bellevue Ave.
(Oakland, Calif.)
Median House Value: $343,666
Average Rental Cost: $1,239

3. Geary Blvd. / Webster St.
(San Francisco, Calif.)
Median House Value: $578,975
Average Rental Cost: $1,351


METRO AREA: DALLAS, TEXAS

1. Central Expy. / Haskell Ave.
(Dallas, Texas)
Median House Value: $187,641
Average Rental Cost: $755

2. Grand Ave. / Tenison Pky.
(Dallas, Texas)
Median House Value: $256,434
Average Rental Cost: $767

3. U.S. Route 75 / Walnut Hill Ln.
(Dallas, Texas)
Median House Value: $115,182
Average Rental Cost: $763


METRO AREA: PHILADELPHIA, PA.

1. Baltimore Ave. / 42nd St.
(Philadelphia, Pa.)
Median House Value: $213,528
Average Rental Cost: $934

2. City Center
(Philadelphia, Pa.)
Median House Value: $476,956
Average Rental Cost: $923

3. 38th St. / Lancaster Ave.
(Philadelphia, Pa.)
Median House Value: $183,760
Average Rental Cost: $646


METRO AREA: HOUSTON, TEXAS

1. Macgregor Way / Burkett St.
(Houston, Texas)
Median House Value: $162,941
Average Rental Cost: $601

2. Houston Middle College for Tech. / Harold St.
(Houston, Texas)
Median House Value: $349,218
Average Rental Cost: $761

3. Southwest Fwy. / State Spur 527
(Houston, Texas)
Median House Value: $374,047
Average Rental Cost: $799


METRO AREA: ATLANTA, GA.

1. Five Points / Georgia State Univ.
(Atlanta, Ga.)
Median House Value: $140,657
Average Rental Cost: $766

2. Marietta St. / Simpson St.
(Atlanta, Ga.)
Median House Value: $375,177
Average Rental Cost: $592

3. Boulevard NE / Edgewood Ave.
(Atlanta, Ga.)
Median House Value: $144,861
Average Rental Cost: $502



Methodology:
Raw data for this study were derived from the U.S. Bureau of the Census, the FBI, the U.S. Justice Department, the National Center for Education Statistics, the Federal Housing Finance Agency, and 63 other sources, or built from NeighborhoodScout Report's own exclusive statistical models and patented algorithms.

To quantify the hottest/trendiest neighborhoods in each metro area, we developed and used the following data:

Children living in poverty: we calculated the percentage of persons 17 and younger in each neighborhood who live below the federal limit for poverty.

Educated neighbors: we calculated the percentage of people 25 and older in each neighborhood with a four-year college degree, master's degree, JD, MD, or even Ph.D.

Neighborhood crime rating: we used our proprietary methodology to amass location data on all FBI crime index crimes -- both violent and property (murder, rape, armed robbery, aggravated assault, burglary, larceny over $50, and motor vehicle theft) -- and then to calculate neighborhood crime as a rate per 1,000 population for every neighborhood (exclusively available on NeighborhoodScoutReports.com).

Renter-occupied: we calculated the percentage of occupied dwellings in every neighborhood that are occupied by renters.
Median House Values: we calculated the median house values for every neighborhood using a repeat sales index to the neighborhood level.

Professionals: we calculated the percentage of employed persons in each neighborhood that are classified as employed in executive, managerial or professional occupations.

Single: we calculated the percentage of households in each neighborhood made up of non-married persons.

Young: we calculated the percentage of people in each neighborhood that are 18 to 44 years old. We then combined and mathematically weighted the data to arrive at our calculations to identify the hottest/trendiest neighborhoods in each metropolitan area.

About Location Inc.

Location Inc. is a research and data mining company born of university research, specializing in location analysis, demographic and school data information products, and location-based decision-making tools for businesses and consumers. The Company licenses data for a host of business to business applications. Location, Inc. is the owner of www.NeighborhoodScoutReports.com, providing detailed reports for any property address, serving investors, as well as home buyers, sellers and real estate professionals, and www.NeighborhoodScout.com, a national neighborhood search engine which has served 8.7 million home buyers and businesses since its 2002 inception.
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