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Real Estate Prices & Overview

E 71st St / Stony Island Ave median real estate price is $304,836, which is more expensive than 51.6% of the neighborhoods in Illinois and 38.9% of the neighborhoods in the U.S.

The average rental price in E 71st St / Stony Island Ave is currently $1,564, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 66.5% of Illinois neighborhoods.

E 71st St / Stony Island Ave is a densely urban neighborhood (based on population density) located in Chicago, Illinois.

E 71st St / Stony Island 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 71st St / Stony Island Ave neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Home and apartment vacancy rates are 7.8% in E 71st St / Stony Island Ave. NeighborhoodScout analysis shows that this rate is lower than 46.9% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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.

Modes of Transportation

Our research revealed that more commuters here take the bus to work (31.0% ride the bus) than 99.8% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.

People

One of the most interesting things about the E 71st St / Stony Island Ave neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 70.2% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 99.7% of the neighborhoods in America.

In addition, one of the unique characteristics of the E 71st St / Stony Island Ave neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 96.4% of the neighborhoods in America.

Car Ownership

American households most often have a car, and regularly they have two or three. But households in the E 71st St / Stony Island Ave neighborhood buck this trend. 47.8% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.6% of U.S. neighborhoods.

Real Estate

The E 71st St / Stony Island Ave neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 30,959 persons per square mile in the neighborhood, it is more packed with people than 97.1% of the nation's neighborhoods. Being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the E 71st St / Stony Island Ave neighborhood is one of the most walkable neighborhoods in America.

In addition, 89.7% of the real estate in the E 71st St / Stony Island Ave neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

Furthermore, the real estate in the E 71st St / Stony Island 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, 73.0% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 95.5% of American neighborhoods.

Also of note, the E 71st St / Stony Island Ave 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 81.7% 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.

Occupations

There are more people living in the E 71st St / Stony Island Ave neighborhood employed as sales and service workers (61.2%) than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.

Diversity

Did you know that the E 71st St / Stony Island 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, 22.6% of this neighborhood's residents have African ancestry and 22.6% have Sub-Saharan African ancestry.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the E 71st St / Stony Island 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 96.4% of U.S. neighborhoods. With 20.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 70.5% 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 E 71st St / Stony Island Ave neighborhood, 38.8% 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 executive, management, and professional occupations, with 33.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (14.9%), and 12.7% in manufacturing and laborer occupations.

Languages

The most common language spoken in the E 71st St / Stony Island Ave neighborhood is English, spoken by 97.4% of households.

Ethnicity / Ancestry

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 71st St / Stony Island Ave neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (22.6%). There are also a number of people of African ancestry (22.6%), and residents who report Jamaican roots (3.8%).

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 E 71st St / Stony Island Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (34.5% of working residents), longer and tougher than most commutes in America.

Here most residents (41.6%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (31.0%) and 7.2% of residents also carpool with coworkers, friends, or neighbors 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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