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Real Estate Prices & Overview

Mile Square East median real estate price is $478,468, which is more expensive than 93.6% of the neighborhoods in Indiana and 64.6% of the neighborhoods in the U.S.

The average rental price in Mile Square East is currently $2,339, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 94.6% of the neighborhoods in Indiana.

Mile Square East is a densely urban neighborhood (based on population density) located in Indianapolis, Indiana.

Mile Square East 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 townhomes. Most of the residential real estate is renter occupied. Many of the residences in the Mile Square East neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Home and apartment vacancy rates are 7.6% in Mile Square East. NeighborhoodScout analysis shows that this rate is lower than 50.3% of the neighborhoods in the nation, approximately near the middle range for vacancies.

Notable & Unique Neighborhood Characteristics

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.

People

Of note is NeighborhoodScout's research finding that the Mile Square East 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 East community truly stands out from the rest in this regard.

In addition, of particular note, 3.4% of the people in the Mile Square East neighborhood currently reside in a correction facility, held due to punishment for a crime.

Occupations

The Mile Square East neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.1% of the neighborhoods in America. In fact, 80.1% 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.

Real Estate

The Mile Square East 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 95.3% 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.

In addition, the real estate in the Mile Square East 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, 84.2% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 97.3% of American neighborhoods.

Modes of Transportation

If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 6.6% of residents in the Mile Square East neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 99.0% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Also, more people in Mile Square East choose to walk to work each day (19.6%) 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.

Diversity

Did you know that the Mile Square East neighborhood has more British and Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.1% of this neighborhood's residents have British ancestry and 1.5% have Iranian ancestry.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Mile Square East neighborhood. In the Mile Square East 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.

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 Mile Square East 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 66.1% 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 East neighborhood, 80.1% 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 9.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (7.2%), and 4.4% in government jobs, whether they are in local, state, or federal positions.

Languages

The most common language spoken in the Mile Square East neighborhood is English, spoken by 89.0% of households. Some people also speak Spanish (3.3%).

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 Mile Square East neighborhood in Indianapolis, IN, residents most commonly identify their ethnicity or ancestry as German (21.0%). There are also a number of people of English ancestry (13.6%), and residents who report Irish roots (11.9%), and some of the residents are also of Asian ancestry (8.4%), along with some Italian ancestry residents (5.1%), among others. In addition, 12.6% of the residents of this neighborhood were born in another country.

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 Mile Square East neighborhood spend under 15 minutes commuting one-way to work (39.4% of working residents), one of the shortest commutes across America.

Here most residents (49.4%) 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 (19.6%) and 6.6% of residents also bicycle 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.


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