Which factor would NOT be considered by an appraiser in a neighborhood analysis?

In a neighborhood analysis, appraisers focus on factors that impact property values and the overall marketability of real estate. The choice that would not be considered during this analysis is the racial characteristics of the residents. This is fundamentally due to fair housing laws and practices which prohibit discrimination based on race, color, religion, sex, national origin, familial status, or disability.

Appraisers concentrate on elements such as the relationship of a neighborhood to the broader community, which includes factors like accessibility to amenities and services. Rent levels are also considered because they influence demand and property values within the area. Zoning laws are essential as they govern land use and can significantly affect how properties are valued and utilized. However, racial characteristics are irrelevant from an appraisal standpoint and would not be factored into the property’s valuation, thereby underscoring the principle of equality in housing practices.