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Real Estate Prices & Overview

Downtown South median real estate price is $535,209, which is more expensive than 84.8% of the neighborhoods in Illinois and 69.0% of the neighborhoods in the U.S.

The average rental price in Downtown South is currently $3,225, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 89.2% of the neighborhoods in Illinois.

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 2.7%, which is a lower rate of vacancies than 80.1% 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

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Chicago, the Downtown South neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Modes of Transportation

Would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the Downtown South neighborhood is a fantastic option for bicycle commuters, as 4.6% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 97.9% of the neighborhoods in America.

Also, our research revealed that more commuters here take the bus to work (10.6% ride the bus) than 95.7% 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.

Occupations

The Downtown South neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 97.3% of the neighborhoods in America. In fact, 74.9% 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

Astoundingly, the Downtown South neighborhood has one of the highest concentrations of divorcees living here than of any neighborhood, a higher concentration than NeighborhoodScout found in 95.1% of U.S. neighborhoods. This may be because people living here divorce more often than others, or that divorced people move here after they become divorced. If you are divorced, you will be in good company in this particular Chicago neighborhood.

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 69.6% 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 95.0% of the neighborhoods in the U.S. Everything here just feels new.

Diversity

Did you know that the Downtown South neighborhood has more Iranian and Armenian 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 2.0% have Armenian ancestry.

Downtown South is also pretty special linguistically. Significantly, 6.1% of its residents five years old and above primarily speak Langs. of India at home. While this may seem like a small percentage, it is higher than 98.0% 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 79.7% of the neighborhoods in America. With 22.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 74.2% 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 Downtown South neighborhood, 74.9% 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 18.7% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (8.2%), and 3.8% 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 70.0% of households. Other important languages spoken here include Langs. of India, Chinese, French and Arabic.

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 Downtown South neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Asian (20.5%). There are also a number of people of Irish ancestry (11.5%), and residents who report Sub-Saharan African roots (8.3%), and some of the residents are also of German ancestry (5.7%), along with some African ancestry residents (4.9%), among others. In addition, 21.3% of the residents of this neighborhood were born in another country.

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 Downtown South neighborhood spend between 15 and 30 minutes commuting one-way to work (47.7% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (42.6%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (10.6%) and 7.7% of residents also take the train 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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