Gold Coast South median real estate price is $1,340,915, which is more expensive than 95.4% of the neighborhoods in Illinois and 87.2% of the neighborhoods in the U.S.
The average rental price in Gold Coast South is currently $3,240, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 89.2% of the neighborhoods in Illinois.
Gold Coast South is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
Gold Coast 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 small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the Gold Coast South 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 Gold Coast South. The current real estate vacancy rate here is 16.9%. This is higher than the rate of vacancies in 81.8% 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.
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 Gold Coast South neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 2.9% of America's neighborhoods are wealthier than the Gold Coast South neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. As one would expect in a considerably wealthy neighborhood such as this, Gold Coast South also has one of the lowest ratings of child poverty in the nation.
In addition, if you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Gold Coast South neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 99.9% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Gold Coast South neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for active retirees and highly educated executives.
Also, the rate of college educated adults in the Gold Coast South neighborhood is a unique characteristic of the neighborhood. 90.7% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 34.3% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 99.7% of all U.S. neighborhoods.
Finally, 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: 54.4%. This is a higher percent living alone than we found in 97.5% 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.
Occupations
Executives, managers and professionals make up 79.4% of the workforce in the Gold Coast South neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 98.9% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Modes of Transportation
In the Gold Coast South neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 23.4% of residents here. This is a higher proportion of walking commuters than we found in 98.6% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, if your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 5.0% of residents in the Gold Coast South neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 98.2% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.
Real Estate
The Gold Coast South neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 42,554 persons per square mile in the neighborhood, it is more packed with people than 98.0% 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 Gold Coast South neighborhood is one of the most walkable neighborhoods in America.
In addition, one of the really unique and interesting things about the look and setting of the Gold Coast South neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 90.7% 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 98.3% of all neighborhoods in America.
Car Ownership
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 South neighborhood have a highly unusual car ownership. 29.3% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.1% of U.S. neighborhoods.
Diversity
Did you know that the Gold Coast South neighborhood has more Romanian and Ukrainian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.9% of this neighborhood's residents have Romanian ancestry and 2.9% have Ukrainian ancestry.
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 South neighborhood in Chicago are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 97.1% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America'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 Gold Coast 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 11.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (7.8%).
Languages
The most common language spoken in the Gold Coast South neighborhood is English, spoken by 81.1% of households. Some people also speak French (2.3%).
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 Gold Coast South neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Irish (17.8%). There are also a number of people of German ancestry (12.0%), and residents who report English roots (7.3%), and some of the residents are also of Romanian ancestry (4.9%), along with some Russian ancestry residents (4.5%), among others. In addition, 15.6% 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 South neighborhood spend between 15 and 30 minutes commuting one-way to work (43.8% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (27.1%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (23.4%) and 9.4% 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.
