Etymology
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neighborhood (n.)

mid-15c., "neighborly conduct, mutual friendliness," from neighbor (n.) + -hood. Modern sense of "community of people who live close together" is recorded by 1620s. Phrase in the neighborhood of meaning "near, somewhere about" is by 1857, American English. The Old English word for "neighborhood" was neahdæl. Middle English had neighborship (early 14c.), "neighborliness; neighborly acts," later "state of being neighbors."

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Definitions of neighborhood

neighborhood (n.)
a surrounding or nearby region;
he always blames someone else in the immediate neighborhood
Synonyms: vicinity / locality / neighbourhood / neck of the woods
neighborhood (n.)
people living near one another;
it is a friendly neighborhood
my neighborhood voted for Bush
Synonyms: neighbourhood
neighborhood (n.)
the approximate amount of something (usually used prepositionally as in `in the region of');
the price is in the neighborhood of $100
Synonyms: region
neighborhood (n.)
an area within a city or town that has some distinctive features (especially one forming a community);
an ethnic neighborhood
From wordnet.princeton.edu