E 72nd St / S Exchange Ave median real estate price is $301,545, which is more expensive than 50.8% of the neighborhoods in Illinois and 38.3% of the neighborhoods in the U.S.
The average rental price in E 72nd St / S Exchange Ave is currently $2,074, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 41.9% of Illinois neighborhoods.
E 72nd St / S Exchange Ave is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
E 72nd St / S Exchange 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 72nd St / S Exchange 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 E 72nd St / S Exchange Ave. The current real estate vacancy rate here is 15.7%. This is higher than the rate of vacancies in 81.5% 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.
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.
Our research revealed that more commuters here take the bus to work (22.2% ride the bus) than 99.2% 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.
If you like crowded places, then you will probably enjoy the the E 72nd St / S Exchange Ave neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.9% of neighborhoods in the U.S., with 29,735 people per square mile living here. 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 72nd St / S Exchange Ave neighborhood is one of the most walkable neighborhoods in America.
In addition, the real estate in the E 72nd St / S Exchange 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, 79.2% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 96.6% of American neighborhoods.
Furthermore, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The E 72nd St / S Exchange Ave neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 58.7% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 96.3% of the neighborhoods in the United States.
One of the most interesting things about the E 72nd St / S Exchange Ave neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 57.6% 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 98.1% of the neighborhoods in America.
In addition, the E 72nd St / S Exchange Ave neighborhood stands out for having an average per capita income lower than 96.6% of the neighborhoods in the United States.
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 72nd St / S Exchange Ave neighborhood has a highly unusual pattern of car ownership. 24.9% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 96.3% of U.S. neighborhoods.
Did you know that the E 72nd St / S Exchange Ave neighborhood has more Sub-Saharan African and Lebanese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 25.2% of this neighborhood's residents have Sub-Saharan African ancestry and 3.2% have Lebanese ancestry.
E 72nd St / S Exchange Ave is also pretty special linguistically. Significantly, 0.8% of its residents five years old and above primarily speak Native American languages at home. While this may seem like a small percentage, it is higher than 96.4% of the neighborhoods in America.
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 E 72nd St / S Exchange Ave neighborhood. In the E 72nd St / S Exchange Ave neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 95.2% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 72nd St / S Exchange 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 96.6% of U.S. neighborhoods. With 29.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 81.3% of U.S. neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the E 72nd St / S Exchange Ave neighborhood, 63.9% 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 13.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (11.7%), and 11.3% in manufacturing and laborer occupations.
Languages
The most common language spoken in the E 72nd St / S Exchange Ave neighborhood is English, spoken by 87.4% of households. Some people also speak Spanish (8.0%).
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 E 72nd St / S Exchange Ave neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (25.2%). There are also a number of people of African ancestry (14.6%), and residents who report Puerto Rican roots (4.9%), and some of the residents are also of Arab ancestry (3.2%), along with some Lebanese ancestry residents (3.2%), 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 72nd St / S Exchange Ave neighborhood spend between 15 and 30 minutes commuting one-way to work (45.1% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (47.6%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (22.2%) and 12.4% 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.
