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Real Estate Prices & Overview

S Michigan Ave / E 121st Pl median real estate price is $216,474, which is less expensive than 68.0% of Illinois neighborhoods and 77.6% of all U.S. neighborhoods.

The average rental price in S Michigan Ave / E 121st Pl is currently $1,572, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 66.1% of Illinois neighborhoods.

S Michigan Ave / E 121st Pl is an urban neighborhood (based on population density) located in Chicago, Illinois.

S Michigan Ave / E 121st Pl real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the S Michigan Ave / E 121st Pl neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Vacant apartments or homes are a major fact of life in S Michigan Ave / E 121st Pl. The current real estate vacancy rate here is 26.8%. This is higher than the rate of vacancies in 94.0% 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.

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 S Michigan Ave / E 121st Pl neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Modes of Transportation

More people ride the bus in this neighborhood each day to get to work than 99.1% of U.S. neighborhoods.

Also, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 14.4% of the S Michigan Ave / E 121st Pl neighborhood's commuters ride the train to and from work each day, which is more than we found in 96.8% of America's neighborhoods.

Car Ownership

We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the S Michigan Ave / E 121st Pl neighborhood has a highly unusual pattern of car ownership. 26.4% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 96.5% of U.S. neighborhoods.

Length of Commute

Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The S Michigan Ave / E 121st Pl neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the S Michigan Ave / E 121st Pl neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 10.5% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 96.2% of all neighborhoods in America.

Diversity

Did you know that the S Michigan Ave / E 121st Pl neighborhood has more Sub-Saharan African and African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 30.3% of this neighborhood's residents have Sub-Saharan African ancestry and 17.4% have African ancestry.

Migration / Stability

Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. In the S Michigan Ave / E 121st Pl neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 96.1% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

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 S Michigan Ave / E 121st Pl neighborhood in Chicago are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 63.2% of U.S. neighborhoods. With 30.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 82.2% 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 S Michigan Ave / E 121st Pl neighborhood, 48.0% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 26.7% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (18.0%), and 10.6% in government jobs, whether they are in local, state, or federal positions.

Languages

The most common language spoken in the S Michigan Ave / E 121st Pl neighborhood is English, spoken by 98.7% 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 S Michigan Ave / E 121st Pl neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (30.3%). There are also a number of people of African ancestry (17.4%), and residents who report French Canadian roots (2.0%).

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 S Michigan Ave / E 121st Pl neighborhood spend between 30 and 45 minutes commuting one-way to work (38.6% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods. However, there is also a significant group of residents (10.5%) who commute over an hour in each direction.

Here most residents (59.4%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (21.6%) and 14.4% 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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