Changing 'GROUPS' to another name in Buddypress

Working with Buddypress 1.7 (on a multisite, if that is relevant). I have my GROUPS set up, but what if I want to describe the groups as NEIGHBORHOODS instead. Wherever you currently see the word 'Group', you would see 'Neighborhood'. This seems more tricky than changing template files. Does it mean I have to fiddle with Buddypress core (which I wouldn't want to do) and is there anything I have to worry about with the database now that I am changing the name?