Let $G=(V,E)$ be a simple graph and $(2k+1)$ be a prime integer. Let each vertex of $G$ be colored using one of the $(2k+1)$ colors, say $R_1,R_2,...,R_{2k+1}$. If every vertex has an equal number of neighbors of each color, then the coloring is a $(2k+1)$-neighborhood balanced coloring. We establish a number of results for common families of graphs and present some families of graphs that have this property.