E 61st St / S Michigan Ave median real estate price is $404,665, which is more expensive than 69.3% of the neighborhoods in Illinois and 54.1% of the neighborhoods in the U.S.
The average rental price in E 61st St / S Michigan Ave is currently $1,653, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 66.4% of Illinois neighborhoods.
E 61st St / S Michigan Ave is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
E 61st St / S Michigan Ave real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the E 61st St / S Michigan Ave neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built before 1940.
E 61st St / S Michigan Ave has a 10.9% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 66.5% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
More people ride the bus in this neighborhood each day to get to work than 99.9% of U.S. neighborhoods.
Also, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 17.4% of the E 61st St / S Michigan Ave neighborhood's commuters ride the train to and from work each day, which is more than we found in 97.1% of America's neighborhoods.
One of the unique characteristics of the E 61st St / S Michigan Ave neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 99.1% of the neighborhoods in America. Also of note, 83.9% of the children in this area live in poverty; an extraordinarily high percentage compared to other neighborhoods in the nation. In a nation where approximately one in four children grows up in poverty, this neighborhood stands out for the depth of the problem manifested here.
In addition, whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the E 61st St / S Michigan Ave neighborhood has more single mother households than 97.3% of the neighborhoods in the U.S. Often high concentrations of single mother homes can be a strong indicator of family and social issues such as poverty, high rates of school dropouts, crime, and other societal problems.
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the E 61st St / S Michigan Ave neighborhood have a highly unusual car ownership. 63.6% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.3% of U.S. neighborhoods.
Renter-occupied real estate is dominant in the E 61st St / S Michigan Ave neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 98.3%, which is higher than 98.8% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.
In addition, the real estate in the E 61st St / S Michigan Ave neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 82.5% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 97.1% of American neighborhoods.
Furthermore, being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the E 61st St / S Michigan Ave neighborhood is one of the most walkable neighborhoods in America.
From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the E 61st St / S Michigan Ave neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 97.3% of all American neighborhoods.
Did you know that the E 61st St / S Michigan Ave neighborhood has more African and Sub-Saharan African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 22.5% of this neighborhood's residents have African ancestry and 24.8% have Sub-Saharan African ancestry.
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the E 61st St / S Michigan Ave neighborhood in Chicago are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 99.1% of U.S. neighborhoods. With 83.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 99.5% of U.S. neighborhoods.
The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.
In the E 61st St / S Michigan Ave neighborhood, 40.8% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 32.9% of the residents employed. Other residents here are employed in executive, management, and professional occupations (16.5%), and 9.7% in manufacturing and laborer occupations.
Languages
The most common language spoken in the E 61st St / S Michigan Ave neighborhood is English, spoken by 93.5% of households. Some people also speak Spanish (2.4%).
Ethnicity / Ancestry
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the E 61st St / S Michigan Ave neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (24.8%). There are also a number of people of African ancestry (22.5%), and residents who report Puerto Rican roots (2.2%), and some of the residents are also of German ancestry (1.2%), along with some Irish ancestry residents (1.2%), among others.
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in E 61st St / S Michigan Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (54.6% of working residents), longer and tougher than most commutes in America.
Here most residents (40.7%) ride the bus to get to work. In addition, quite a number also drive alone in a private automobile to get to work (18.9%) and 18.6% of residents also carpool with coworkers, friends, or neighbors for their daily commute. The bus provides a valuable service in the E 61st St / S Michigan Ave neighborhood of Chicago by getting a lot of residents to and from work daily, reducing the costs of commuting and reducing some congestion on the roads as well.
