NeighborhoodScout

NeighborhoodScout is a website and online database of U.S. neighborhood analytics created in 2002 by geographer and demographics specialist Andrew Schiller, Ph.D. of Location Inc.[1][2] The site offers neighborhood reports and a search function that allows users to select the location characteristics that are important to them and return a list of their best neighborhood matches. The site is a recognized resource for nationwide crime data, school ratings, home appreciation, demographics and trends for magazines, news channels, website authors and personal finance books, and a listed relocation reference at the U.S. Department of State.[3][4][5][6][7][8]

The website is owned and operated by Location, Inc., a Rhode Island corporation headquartered in Worcester, Massachusetts.[9]

History

Inception

Andrew Schiller conceived NeighborhoodScout while working on his doctorate in geography at Clark University in Worcester, MA.[10]

In an interview with Inman News, Schiller discusses that he used to move around often for jobs or for school, and was often in a position to make expensive decisions about the best places in which to buy or rent. “But asking friends or real estate professionals always led to answers that were an inaccurate mix of what my friend or agent thought I wanted, combined with what they themselves want in a neighborhood. As a result, the suggestions were never right.”[10]

Schiller challenged that people should be able to select the attributes that they would like to have in a neighborhood, then let technology find the perfect neighborhood match. He set out to create and then patent the search technology that would allow homebuyers and renters to match or build their ideal neighborhood.[10] He founded Location, Inc. in 2000 and launched Neighborhoodscout.com in 2002.[9]

Growth

By 2006, Location, Inc. reported that NeighborhoodScout had nearly 70,000 subscribers and had served over 1 million users since inception.[11] In 2015, NeighborhoodScout reported to serve over 1 million users each month.[12] NeighborhoodScout earns revenue from customer subscriptions and advertising. They also refer homebuyers to real estate agents and collect a referral fee when they transact on a home.[13]

Media Attention

NeighborhoodScout received considerable coverage in real estate and travel-related news after its launch in 2002. In 2003, The Wall Street Journal used NeighborhoodScout in an example of how more homebuyers are turning to the web, rather than their agents, to find real estate data to fuel their decisions.[2] A year later, CBS News featured NeighborhoodScout’s list of top 30 towns in which to buy a vacation home for investment purposes.[14] In 2006, The Wall Street Journal partnered with NeighborhoodScout to release a list of the best 15 towns near metro areas to retire in.[15] In 2008, real estate mogul Barbara Corcoran listed NeighborhoodScout as one of the "best real estate sites."[16] Other NeighborhoodScout lists have been published in Bloomberg Business,[6] Forbes,[5] CNBC,[17] TIME,[3] and CNN Money.[18]

References
  1. Savides, Steven (June 18, 2003). "How the Web-savvy retiree picks a new hometown". The Christian Science Monitor. The Christian Science Monitor. Retrieved 29 September 2015.
  2. Reed, Danielle (May 2, 2003). "Home Buyers Hunting Deals Go Online for Ammunition". The Wall Street Journal. Retrieved 29 September 2015.
  3. Friedman, Megan (October 6, 2010). "Where Are America's Most Dangerous Neighborhoods?". TIME, Inc. TIME Newsfeed. Retrieved 29 September 2015.
  4. Veiga, Alex (February 20, 2009). "Web sites help homebuyers find good schools". NBC News. The Associated Press. Retrieved 29 September 2015.
  5. Woolsey, Matt (December 7, 2007). "Best Blue-Chip Real Estate Investments". Forbes. Forbes.com, LLC. Retrieved 29 September 2015.
  6. Wong, Venessa (March 1, 2011). "Where the Richest People Live". Bloomberg Businessweek. Bloomberg L. P. Retrieved 29 September 2015.
  7. Tyson, Eric (February 7, 2012). Home Buying Kit for Dummies (5th ed.). John Wiley & Sons. p. 245. ISBN 978-1118206478.
  8. "Salaries, Costs of Living, & Relocation". U.S. Department of State. Retrieved 29 September 2015.
  9. "Location Inc. Chooses Worcester for its New Headquarters". City of Worcester Announcements. City of Worcester. October 27, 2010. Retrieved 29 September 2015.
  10. Wiggin, Teke (November 24, 2014). "Follow the Leaders: Andrew Schiller, CEO of NeighborhoodScout". Inman News. Inman News. Retrieved 29 September 2015.
  11. Resende, Patricia. "RI Firm Aims to Help You Find the Best Place to Live". Boston Business Journal. Mass High Tech.
  12. "Location, Inc. of Worcester Expands its Staff". Go Local Worcester. Go Local.
  13. Prevost, Lisa (July 18, 2014). "The Data-Driven Home Search: Using Data to Find a New York Suburb That Fits". The New York Times. The New York Times Company. Retrieved 29 September 2015.
  14. Morales, Tatiana (July 16, 2004). "Second Home As An Investment". CBS News. CBS Interactive, Inc. Retrieved 29 September 2015.
  15. Coombes, Andrea (April 24, 2006). "Best Places to Retire Near Metro Areas". The Wall Street Journal, Marketwatch. Dow Jones & Company, Inc. Retrieved 29 September 2015.
  16. Corcoran, Barbara (February 28, 2008). "High-speed house hunting: 18 best real estate sites". Entrepreneur. TODAY Money. Retrieved 29 September 2015.
  17. Kane, Colleen (August 31, 2011). "10 Perfect Suburbs". CNBC Life. CNBC LLC. Retrieved 29 September 2015.
  18. "Best Big-City Bargains". TIME Money (Best Places to Live 2014). Time Inc. September 21, 2014. Retrieved 29 September 2015.
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