Near East Side median real estate price is $880,213, which is more expensive than 92.4% of the neighborhoods in Illinois and 82.4% of the neighborhoods in the U.S.
The average rental price in Near East Side is currently $4,225, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 98.0% of the neighborhoods in Illinois.
Near East Side is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
Near East Side 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 Near East Side neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
Vacant apartments or homes are a major fact of life in Near East Side. The current real estate vacancy rate here is 19.8%. This is higher than the rate of vacancies in 86.5% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Chicago, the Near East Side neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
In a nation where 1 out of every 4 children lives in poverty, the Near East Side neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, if knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Near East Side neighborhood, where 51.7% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.4% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 99.3% of the neighborhoods in America.
Also, if you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Near East Side neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 95.7% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Near East Side neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for active retirees.
Real Estate
One of the really unique and interesting things about the look and setting of the Near East Side neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 97.2% 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 99.4% of all neighborhoods in America.
In addition, the Near East Side neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 53,009 persons per square mile in the neighborhood, it is more packed with people than 98.6% of the nation's neighborhoods.
Furthermore, the Near East Side 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 82.4% 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.
Modes of Transportation
A unique way of commuting is simply not to. And in the Near East Side neighborhood, analysis shows that 36.4% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 99.1% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
Also, more people in Near East Side choose to walk to work each day (18.0%) 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.
Occupations
The Near East Side neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 98.8% of the neighborhoods in America. In fact, 78.5% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Car Ownership
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 Near East Side neighborhood have a highly unusual car ownership. 27.9% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 96.9% of U.S. neighborhoods.
Diversity
Did you know that the Near East Side neighborhood has more Ukrainian and Brazilian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.5% of this neighborhood's residents have Ukrainian ancestry and 2.6% have Brazilian ancestry.
Near East Side is also pretty special linguistically. Significantly, 13.3% of its residents five years old and above primarily speak Chinese at home. While this may seem like a small percentage, it is higher than 98.5% of the neighborhoods in America.
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 Near East Side neighborhood in Chicago are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 86.0% of the neighborhoods in America. In addition, 0.0% 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 100.0% of America'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 Near East Side neighborhood, 78.5% 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 15.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (4.5%).
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 Near East Side neighborhood is English, spoken by 49.1% of households. Other important languages spoken here include Chinese, Spanish, Langs. of India and Arabic.
Ethnicity / Ancestry
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the Near East Side neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Asian (22.6%). There are also a number of people of Polish ancestry (13.5%), and residents who report German roots (8.7%), and some of the residents are also of Irish ancestry (7.6%), along with some Italian ancestry residents (5.9%), among others. In addition, 39.4% 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 Near East Side neighborhood spend between 15 and 30 minutes commuting one-way to work (46.1% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (30.9%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (18.0%) and 8.0% of residents also ride the bus for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
