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Real Estate Prices & Overview

Downtown South median real estate price is $544,584, which is more expensive than 86.5% of the neighborhoods in Illinois and 70.4% of the neighborhoods in the U.S.

The average rental price in Downtown South is currently $1,859, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 54.1% of Illinois neighborhoods.

Downtown South is a suburban neighborhood (based on population density) located in Chicago, Illinois.

Downtown South 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 occupied by a mixture of owners and renters. Many of the residences in the Downtown South neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.

In Downtown South, the current vacancy rate is 2.6%, which is a lower rate of vacancies than 82.5% of all neighborhoods in the U.S. This means that the housing supply in Downtown South is very tight compared to the demand for property here.

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.

Occupations

The Downtown South neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.0% of the neighborhoods in America. In fact, 79.4% 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.

People

If you are planning to retire in Illinois, this neighborhood should be on your must-see list. For many reasons, Downtown South may be considered a retiree's dream neighborhood. According to NeighborhoodScout's exclusive analysis and metrics, it's peaceful and quiet, has above average safety from crime compared to other neighborhoods in Illinois, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood more retiree-friendly than 98.4% of neighborhoods in IL. If a Illinois retirement is in your future, this neighborhood should be one of the places you visit. In addition to being an excellent choice for active retirees, this neighborhood is also a very good choice for urban sophisticates.

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 4.1% of residents in the Downtown South neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 97.4% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Also, in the Downtown South neighborhood, 10.2% 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 95.1% of the neighborhoods in America.

Real Estate

If you like the look and ambience of new homes and newly built neighborhoods, you will love the Downtown South neighborhood. A whopping 67.3% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 95.3% of the neighborhoods in the U.S. Everything here just feels new.

In addition, one of the really unique and interesting things about the look and setting of the Downtown South neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 69.8% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 95.0% of all neighborhoods in America.

Diversity

Did you know that the Downtown South neighborhood has more Iranian and Lebanese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.9% of this neighborhood's residents have Iranian ancestry and 1.9% have Lebanese ancestry.

Downtown South is also pretty special linguistically. Significantly, 11.5% of its residents five years old and above primarily speak Chinese at home. While this may seem like a small percentage, it is higher than 98.2% of the neighborhoods in America.

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 Downtown South neighborhood in Chicago are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 78.3% of the neighborhoods in America. With 13.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 57.4% 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 Downtown South neighborhood, 79.4% 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 15.5% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (8.8%), and 2.9% in manufacturing and laborer occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Downtown South neighborhood is English, spoken by 73.9% of households. Other important languages spoken here include Chinese, Langs. of India and Arabic.

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 Downtown South neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Asian (28.0%). There are also a number of people of Irish ancestry (9.8%), and residents who report Sub-Saharan African roots (8.8%), and some of the residents are also of Mexican ancestry (6.0%), along with some German ancestry residents (5.7%), among others. In addition, 15.2% 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 Downtown South neighborhood spend between 15 and 30 minutes commuting one-way to work (43.7% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (53.7%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (10.2%) and 6.9% 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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