Gold Coast median real estate price is $556,677, which is more expensive than 82.9% of the neighborhoods in Illinois and 68.2% of the neighborhoods in the U.S.
The average rental price in Gold Coast is currently $3,453, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 92.3% of the neighborhoods in Illinois.
Gold Coast is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
Gold Coast 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 occupied by a mixture of owners and renters. Many of the residences in the Gold Coast neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
Gold Coast has a 10.5% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 66.2% of American neighborhoods). A relatively large percentage of housing here is seasonally occupied (6.3%), which can occur in some markets dominated by colleges or vacation homes. If you live here year round, you will find many of the homes or apartments are empty for all or a portion of the year.
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.
The rate of college educated adults in the Gold Coast neighborhood is a unique characteristic of the neighborhood. 89.4% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 35.7% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 99.6% of all U.S. neighborhoods.
In addition, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 64.8%. This is a higher percent living alone than we found in 99.3% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.
The Gold Coast neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 62,328 persons per square mile in the neighborhood, it is more packed with people than 98.9% of the nation's neighborhoods.
In addition, one of the really unique and interesting things about the look and setting of the Gold Coast neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 93.0% 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 98.6% of all neighborhoods in America.
Furthermore, the Gold Coast 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 81.8% 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.
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Gold Coast neighborhood have a highly unusual car ownership. 44.6% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.4% of U.S. neighborhoods.
If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 4.6% of residents in the Gold Coast neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 97.9% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.
Also, more people ride the bus in this neighborhood each day to get to work than 97.7% of U.S. neighborhoods.
Finally, a unique way of commuting is simply not to. And in the Gold Coast neighborhood, analysis shows that 35.5% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 96.3% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
The Gold Coast neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 96.2% of the neighborhoods in America. In fact, 72.7% 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.
Did you know that the Gold Coast neighborhood has more Czechoslovakian and Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.2% of this neighborhood's residents have Czechoslovakian ancestry and 1.6% have Armenian ancestry.
Gold Coast is also pretty special linguistically. Significantly, 0.8% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 97.0% of the neighborhoods in America.
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 Gold Coast 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 75.0% of the neighborhoods in America. With 16.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 63.6% 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 Gold Coast neighborhood, 72.7% 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 18.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (5.6%), and 3.1% in manufacturing and laborer occupations.
Languages
The most common language spoken in the Gold Coast neighborhood is English, spoken by 90.1% 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 Gold Coast neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Irish (20.6%). There are also a number of people of German ancestry (15.2%), and residents who report English roots (13.0%), and some of the residents are also of Polish ancestry (6.3%), along with some Italian ancestry residents (4.6%), among others. In addition, 12.3% of the residents of this neighborhood were born in another country.
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 Gold Coast neighborhood spend between 15 and 30 minutes commuting one-way to work (36.1% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (22.1%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (15.0%) and 10.6% of residents also hop out the door and walk to work 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.
