Moran Park median real estate price is $293,517, which is more expensive than 53.4% of the neighborhoods in Illinois and 39.3% of the neighborhoods in the U.S.
The average rental price in Moran Park is currently $1,340, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 73.8% of Illinois neighborhoods.
Moran Park is an urban neighborhood (based on population density) located in Chicago, Illinois.
Moran Park real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) small apartment buildings and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Moran Park 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 Moran Park. The current real estate vacancy rate here is 30.9%. This is higher than the rate of vacancies in 95.1% 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.
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.
Real Estate
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 Moran Park 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, 62.1% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 99.4% of America's neighborhoods.
In addition, despite all of the residential real estate here in the Moran Park neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 30.9%, which is higher than 95.1% of all U.S. neighborhoods.
Modes of Transportation
More people ride the bus in this neighborhood each day to get to work than 99.0% 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 17.6% of the Moran Park neighborhood's commuters ride the train to and from work each day, which is more than we found in 96.9% of America's neighborhoods.
Finally, 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 Moran Park neighborhood is a fantastic option for bicycle commuters, as 3.5% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 96.7% of the neighborhoods in America.
People
One of the unique characteristics of the Moran Park neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 98.5% of the neighborhoods in America.
In addition, whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the Moran Park neighborhood has more single mother households than 96.9% of the neighborhoods in the U.S. Often high concentrations of single mother homes can be a strong indicator of family and social issues such as poverty, high rates of school dropouts, crime, and other societal problems.
Also, the Moran Park neighborhood is unique for having just 7.0% of adults here having earned a bachelor's degree. This is a lower rate of college graduates than NeighborhoodScout found in 95.2% of America's neighborhoods.
Finally, according to NeighborhoodScout's research, Moran Park is better suited for first-time home buyers than 88.9% of neighborhoods in the state. Most homes here are priced below the state's median house value, yet maintain comparably good appreciation rates over the last decade relative to other neighborhoods in Illinois. Along with an exclusive multi-metric measure of neighborhood quality developed by NeighborhoodScout that scores high here in this neighborhood, this means that buying into the neighborhood is not only an accessible option but considered a decent first time home buyer choice for building equity in your first home, while being in a quality neighborhood
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 Moran Park neighborhood have a highly unusual car ownership. 21.7% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 95.7% of U.S. neighborhoods.
Diversity
Did you know that the Moran Park neighborhood has more Jamaican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 32.2% of this neighborhood's residents have Jamaican 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 Moran Park 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 98.5% of U.S. neighborhoods. With 44.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 91.6% 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 Moran Park neighborhood, 48.4% of the working population is employed in clerical, assistant, and tech support occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 24.9% of the residents employed. Other residents here are employed in executive, management, and professional occupations (15.5%), and 11.1% in sales and service jobs, from major sales accounts, to working in fast food restaurants.
Languages
The most common language spoken in the Moran Park neighborhood is English, spoken by 66.8% of households. Some people also speak Spanish (33.2%).
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 Moran Park neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Mexican (32.9%). There are also a number of people of Jamaican ancestry (32.2%). In addition, 12.2% 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 Moran Park neighborhood spend between 30 and 45 minutes commuting one-way to work (53.1% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (46.9%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (22.3%) and 17.6% 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.
