Millenium Park median real estate price is $565,413, which is more expensive than 86.2% of the neighborhoods in Illinois and 71.0% of the neighborhoods in the U.S.
The average rental price in Millenium Park is currently $4,097, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 97.1% of the neighborhoods in Illinois.
Millenium Park is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
Millenium Park 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 single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Millenium Park neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
In Millenium Park, the current vacancy rate is 1.7%, which is a lower rate of vacancies than 87.6% of all neighborhoods in the U.S. This means that the housing supply in Millenium Park is very tight compared to the demand for property here.
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.
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 Millenium Park neighborhood have a highly unusual car ownership. 66.3% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.4% of U.S. neighborhoods.
More people in Millenium Park choose to walk to work each day (35.9%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Also, in the Millenium Park neighborhood, 17.3% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 97.0% of the neighborhoods in America.
Finally, more people ride the bus in this neighborhood each day to get to work than 96.5% of U.S. neighborhoods.
The rate of college educated adults in the Millenium Park neighborhood is a unique characteristic of the neighborhood. 87.3% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 35.0% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 99.4% of all U.S. neighborhoods.
In addition, if you're looking for an active nightlife with lots of opportunities to flirt and find romance, then you probably won't have to go too far from the Millenium Park neighborhood to find it. Only 4.7% of the neighborhoods in the country have a larger proportion of young, single professionals. The nightlife may not be reminiscent of a "Sex and the City" episode, but the people who live here find friendship, romance, fun, and socializing readily available. In addition to being an excellent choice for young, single professionals, this neighborhood is also a very good choice for urban sophisticates.
One of the really unique and interesting things about the look and setting of the Millenium Park neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 96.5% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 99.3% of all neighborhoods in America.
In addition, if you like crowded places, then you will probably enjoy the the Millenium Park neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.5% of neighborhoods in the U.S., with 27,667 people per square mile living here.
Furthermore, the Millenium Park neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 85.1% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
Executives, managers and professionals make up 73.1% of the workforce in the Millenium Park neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 96.6% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Did you know that the Millenium Park neighborhood has more Croatian and Lebanese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.1% of this neighborhood's residents have Croatian ancestry and 3.8% have Lebanese ancestry.
Millenium Park is also pretty special linguistically. Significantly, 1.9% of its residents five years old and above primarily speak Russian at home. While this may seem like a small percentage, it is higher than 98.4% of the neighborhoods in America.
The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the Millenium Park neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 98.7% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas. What is also interesting to note, is that the Millenium Park neighborhood has a greater percentage of residents born in another country (44.1%) than are found in 95.7% of all U.S. neighborhoods.
There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.
The neighbors in the Millenium Park neighborhood in Chicago are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 79.0% of the neighborhoods in America. In addition, 9.6% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 50.9% of America's neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the Millenium Park neighborhood, 73.1% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 14.8% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (7.5%), and 6.4% in government jobs, whether they are in local, state, or federal positions.
Languages
The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Millenium Park neighborhood is English, spoken by 57.9% of households. Other important languages spoken here include Chinese, Langs. of India, Spanish and Portuguese.
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 Millenium Park neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Asian (28.3%). There are also a number of people of German ancestry (18.3%), and residents who report Irish roots (12.4%), and some of the residents are also of Mexican ancestry (6.8%), along with some Italian ancestry residents (6.8%), among others. In addition, 44.1% of the residents of this neighborhood were born in another country.
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Millenium Park neighborhood spend between 15 and 30 minutes commuting one-way to work (45.8% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (35.9%) hop out the door and walk to work to get to work. In addition, quite a number also take the train to get to work (17.3%) and 15.7% of residents also drive alone in a private automobile for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
