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Real Estate Prices & Overview

Monroe Ave / 173rd St median real estate price is $167,908, which is less expensive than 66.7% of Indiana neighborhoods and 83.5% of all U.S. neighborhoods.

The average rental price in Monroe Ave / 173rd St is currently $1,735, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 76.3% of the neighborhoods in Indiana.

Monroe Ave / 173rd St is an urban neighborhood (based on population density) located in Hammond, Indiana.

Monroe Ave / 173rd St real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Monroe Ave / 173rd St neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

Home and apartment vacancy rates are 7.4% in Monroe Ave / 173rd St. NeighborhoodScout analysis shows that this rate is lower than 51.7% of the neighborhoods in the nation, approximately near the middle range for vacancies.

Notable & Unique Neighborhood Characteristics

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 Hammond, the Monroe Ave / 173rd St neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

The Monroe Ave / 173rd St neighborhood stands out within Indiana for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 7.3% of college-friendly places to live in IN.

Diversity

Significantly, 9.1% of its residents five years old and above primarily speak Polish at home. While this may seem like a small percentage, it is higher than 97.7% of the neighborhoods in America.

The Neighbors

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 Monroe Ave / 173rd St neighborhood in Hammond are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 66.1% of U.S. neighborhoods. With 24.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 74.8% of U.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 Monroe Ave / 173rd St neighborhood, 33.3% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 24.3% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (22.0%), and 20.4% in clerical, assistant, and tech support occupations.

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 Monroe Ave / 173rd St neighborhood is English, spoken by 82.6% of households. Other important languages spoken here include Spanish and Polish.

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 Monroe Ave / 173rd St neighborhood in Hammond, IN, residents most commonly identify their ethnicity or ancestry as Mexican (29.7%). There are also a number of people of German ancestry (12.6%), and residents who report Irish roots (12.3%), and some of the residents are also of Polish ancestry (8.4%), along with some English ancestry residents (6.5%), among others.

Getting to Work

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 Monroe Ave / 173rd St neighborhood spend under 15 minutes commuting one-way to work (37.9% of working residents), one of the shortest commutes across America.

Here most residents (81.0%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (12.7%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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