W Lake St / N Homan Ave median real estate price is $353,863, which is more expensive than 60.4% of the neighborhoods in Illinois and 46.4% of the neighborhoods in the U.S.
The average rental price in W Lake St / N Homan Ave is currently $1,807, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 56.0% of Illinois neighborhoods.
W Lake St / N Homan Ave is an urban neighborhood (based on population density) located in Chicago, Illinois.
W Lake St / N Homan 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 W Lake St / N Homan 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.
W Lake St / N Homan Ave has a 14.7% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 79.4% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are 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 W Lake St / N Homan Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
In the W Lake St / N Homan Ave neighborhood, carpooling is still a popular way to get to and from work. NeighborhoodScout's analysis reveals that 57.1% of commuters carpool here, which is more than in 100.0% of all U.S. neighborhoods.
Single parenting is hard. But you don't have to tell the W Lake St / N Homan Ave neighborhood about it; they already know. 23.6% of this neighborhood's households are run by single mothers, which is a higher concentration than NeighborhoodScout found in 98.4% of American neighborhoods. Further NeighborhoodScout research showed strong statistical correlations among high rates of children living in single parent households, and neighborhood crime, particularly violent crime, neighborhood poverty, and, importantly, the percentage of low weight births and rates of infant mortality.
In addition, one of the unique characteristics of the W Lake St / N Homan Ave neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 97.3% of the neighborhoods in America.
Three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The W Lake St / N Homan Ave neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 34.7% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 96.1% of America's neighborhoods.
Did you know that the W Lake St / N Homan Ave neighborhood has more African and Sub-Saharan African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 18.6% of this neighborhood's residents have African ancestry and 18.6% have Sub-Saharan African ancestry.
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 W Lake St / N Homan 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 97.3% of U.S. neighborhoods. With 36.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 87.1% 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 W Lake St / N Homan Ave neighborhood, 30.4% 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 25.7% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (24.6%), and 19.3% in manufacturing and laborer occupations.
The most common language spoken in the W Lake St / N Homan Ave neighborhood is English, spoken by 82.6% of households. Some people also speak Spanish (17.4%).
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 W Lake St / N Homan Ave neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (18.6%). There are also a number of people of African ancestry (18.6%), and residents who report Mexican roots (17.4%), and some of the residents are also of Polish ancestry (3.0%), along with some German ancestry residents (2.5%), among others.
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 W Lake St / N Homan Ave neighborhood spend between 30 and 45 minutes commuting one-way to work (43.6% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (57.1%) carpool with coworkers, friends, or neighbors to get to work. In addition, quite a number also drive alone in a private automobile to get to work (23.1%) . Despite relying on the automobile to get to work, residents of this neighborhood share the ride more than most neighborhoods, reducing traffic, pollution, and saving money.