E 61st St / S Michigan Ave median real estate price is $406,818, which is more expensive than 69.2% of the neighborhoods in Illinois and 54.2% of the neighborhoods in the U.S.
The average rental price in E 61st St / S Michigan Ave is currently $1,334, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 77.4% of Illinois neighborhoods.
E 61st St / S Michigan Ave is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
E 61st St / S Michigan Ave 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 E 61st St / S Michigan Ave neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built before 1940.
E 61st St / S Michigan Ave has a 13.5% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 76.2% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
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.
More people ride the bus in this neighborhood each day to get to work than 100.0% of U.S. neighborhoods.
Also, in the E 61st St / S Michigan Ave neighborhood, 11.1% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 96.0% of the neighborhoods in America.
We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the E 61st St / S Michigan Ave neighborhood has a highly unusual pattern of car ownership. 66.5% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.5% of U.S. neighborhoods.
One of the unique characteristics of the E 61st St / S Michigan Ave neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 99.1% of the neighborhoods in America. The E 61st St / S Michigan Ave neighborhood also has a greater percentage of children living in poverty (78.4%) than found in 99.3% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.
In addition, single parenting is hard. But you don't have to tell the E 61st St / S Michigan Ave neighborhood about it; they already know. 20.2% of this neighborhood's households are run by single mothers, which is a higher concentration than NeighborhoodScout found in 97.2% of American neighborhoods. Further NeighborhoodScout research showed strong statistical correlations among high rates of children living in single parent households, and neighborhood crime, particularly violent crime, neighborhood poverty, and, importantly, the percentage of low weight births and rates of infant mortality.
Renter-occupied real estate is dominant in the E 61st St / S Michigan Ave neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 97.9%, which is higher than 98.7% 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.
In addition, the real estate in the E 61st St / S Michigan Ave 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, 89.2% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.1% of American neighborhoods.
From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the E 61st St / S Michigan Ave neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 96.0% of all American neighborhoods.
Did you know that the E 61st St / S Michigan Ave neighborhood has more African and Sub-Saharan African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 20.2% of this neighborhood's residents have African ancestry and 24.1% have Sub-Saharan African ancestry.
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 E 61st St / S Michigan 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 99.1% of U.S. neighborhoods. With 78.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 99.3% of U.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 E 61st St / S Michigan Ave neighborhood, 38.0% 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 clerical, assistant, and tech support occupations, with 30.2% of the residents employed. Other residents here are employed in executive, management, and professional occupations (22.2%), and 9.5% in manufacturing and laborer occupations.
The most common language spoken in the E 61st St / S Michigan Ave neighborhood is English, spoken by 94.5% of households. Some people also speak Spanish (3.3%).
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 E 61st St / S Michigan Ave neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (24.1%). There are also a number of people of African ancestry (20.2%), and residents who report Puerto Rican roots (2.9%), and some of the residents are also of German ancestry (1.5%), along with some Irish ancestry residents (1.5%), among others.
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 E 61st St / S Michigan Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (50.2% of working residents), longer and tougher than most commutes in America.
Here most residents (45.4%) ride the bus to get to work. In addition, quite a number also drive alone in a private automobile to get to work (19.4%) and 15.4% of residents also carpool with coworkers, friends, or neighbors for their daily commute. The bus provides a valuable service in the E 61st St / S Michigan Ave neighborhood of Chicago by getting a lot of residents to and from work daily, reducing the costs of commuting and reducing some congestion on the roads as well.