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Real Estate Prices & Overview

W 118th St / S Lafayette Ave median real estate price is $207,324, which is less expensive than 71.2% of Illinois neighborhoods and 79.3% of all U.S. neighborhoods.

The average rental price in W 118th St / S Lafayette Ave is currently $2,124, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 60.0% of the neighborhoods in Illinois.

W 118th St / S Lafayette Ave is an urban neighborhood (based on population density) located in Chicago, Illinois.

W 118th St / S Lafayette Ave real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the W 118th St / S Lafayette Ave neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.

Vacant apartments or homes are a major fact of life in W 118th St / S Lafayette Ave. The current real estate vacancy rate here is 33.7%. This is higher than the rate of vacancies in 96.6% 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.

Notable & Unique Neighborhood Characteristics

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.

Real Estate

Vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 33.7% of the residential real estate vacant, the W 118th St / S Lafayette Ave neighborhood claims the distinction of having a higher vacancy rate than 96.6% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.

In addition, corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the W 118th St / S Lafayette Ave neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 33.2% of the real estate here is made up of such dwellings, which is higher than 95.7% of all U.S. neighborhoods.

Furthermore, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 59.5% of the residential real estate in the W 118th St / S Lafayette Ave neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 96.5% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Diversity

Did you know that the W 118th St / S Lafayette Ave neighborhood has more Welsh and African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.5% of this neighborhood's residents have Welsh ancestry and 9.1% have African ancestry.

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 W 118th St / S Lafayette Ave neighborhood in Chicago are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 90.2% of U.S. neighborhoods. With 12.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 56.1% of U.S. neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the W 118th St / S Lafayette Ave neighborhood, 34.8% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 33.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (19.0%), and 12.6% in executive, management, and professional occupations.

Languages

The most common language spoken in the W 118th St / S Lafayette Ave neighborhood is English, spoken by 89.5% of households. Some people also speak Spanish (9.7%).

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 W 118th St / S Lafayette Ave neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Mexican (12.8%). There are also a number of people of Sub-Saharan African ancestry (9.1%), and residents who report African roots (9.1%), and some of the residents are also of Welsh ancestry (6.5%), along with some Haitian ancestry residents (4.8%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in W 118th St / S Lafayette Ave neighborhood spend between 30 and 45 minutes commuting one-way to work (36.8% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (62.0%) 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 (13.0%) and 8.6% 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.


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