Mile Square / Downtown median real estate price is $487,963, which is more expensive than 95.5% of the neighborhoods in Indiana and 68.0% of the neighborhoods in the U.S.
The average rental price in Mile Square / Downtown is currently $2,691, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 97.6% of the neighborhoods in Indiana.
Mile Square / Downtown is an urban neighborhood (based on population density) located in Indianapolis, Indiana.
Mile Square / Downtown 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 Mile Square / Downtown neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.
Home and apartment vacancy rates are 8.7% in Mile Square / Downtown. NeighborhoodScout analysis shows that this rate is lower than 44.5% of the neighborhoods in the nation, approximately near the middle range for vacancies.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
People
Of note is NeighborhoodScout's research finding that the Mile Square / Downtown neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Mile Square / Downtown community truly stands out from the rest in this regard.
In addition, the rate of college educated adults in the Mile Square / Downtown neighborhood is a unique characteristic of the neighborhood. 84.7% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 34.3% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 99.0% of all U.S. neighborhoods.
Also, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 55.2%. This is a higher percent living alone than we found in 97.7% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.
Finally, a unique characteristic about the people in the Mile Square / Downtown neighborhood is that a majority of them are young, single professionals. In fact, there are more young, single professionals in this one community than 95.7% of neighborhoods in the U.S. Here you'll find an active nightlife nearby with lots of opportunities to flirt and find romance. In addition to being an excellent choice for young, single professionals, this neighborhood is also a very good choice for college students, highly educated executives and urban sophisticates.
Real Estate
One of the really unique and interesting things about the look and setting of the Mile Square / Downtown neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 95.8% 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 99.1% of all neighborhoods in America.
In addition, the Mile Square / Downtown 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 87.0% 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.
Furthermore, renter-occupied real estate is dominant in the Mile Square / Downtown neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 85.8%, which is higher than 95.6% 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.
Modes of Transportation
In the Mile Square / Downtown neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 26.1% of residents here. This is a higher proportion of walking commuters than we found in 98.8% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Occupations
The Mile Square / Downtown neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 97.6% of the neighborhoods in America. In fact, 74.6% 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.
Migration / Stability
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. In the Mile Square / Downtown neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 98.9% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Diversity
Did you know that the Mile Square / Downtown neighborhood has more Lebanese and Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.4% of this neighborhood's residents have Lebanese ancestry and 3.7% have Arab ancestry.
Mile Square / Downtown is also pretty special linguistically. Significantly, 4.6% of its residents five years old and above primarily speak Langs. of India at home. While this may seem like a small percentage, it is higher than 96.9% of the neighborhoods in America.
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 Mile Square / Downtown neighborhood in Indianapolis are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 70.4% 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 Mile Square / Downtown neighborhood, 74.6% 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 12.3% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (10.2%), and 9.0% 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 Mile Square / Downtown neighborhood is English, spoken by 75.6% of households. Other important languages spoken here include Spanish, Langs. of India and Arabic.
Ethnicity / Ancestry
Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.
In the Mile Square / Downtown neighborhood in Indianapolis, IN, residents most commonly identify their ethnicity or ancestry as English (13.9%). There are also a number of people of Asian ancestry (12.7%), and residents who report German roots (11.8%), and some of the residents are also of Irish ancestry (8.8%), along with some Mexican ancestry residents (4.7%), among others. In addition, 20.5% 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 Mile Square / Downtown neighborhood spend between 15 and 30 minutes commuting one-way to work (49.9% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (54.8%) 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 (26.1%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
