What term describes a collection of properties affected similarly by the same forces?

The term that describes a collection of properties affected similarly by the same forces is "neighborhood." In real property appraisal, a neighborhood is recognized as an area where properties share common characteristics and are influenced by similar economic, social, or physical conditions. These shared factors can include property type, land use, demographic trends, and access to amenities.

Understanding the concept of a neighborhood is crucial for appraisers because it helps them analyze how the surrounding environment impacts property values. For instance, properties in a well-maintained neighborhood with good schools and amenities are often valued higher than those in less desirable areas. The notion of a "zone" typically refers to a designated area that may have different zoning laws or regulations, while a "suburb" denotes specific areas outside of a city characterized by residential developments. A "parcel" refers to a specific tract of land and does not encompass the broader community influences that define a neighborhood. Thus, the definition of a neighborhood is essential for comprehending how local factors can affect real estate appraisal.