Old Town South median real estate price is $773,172, which is more expensive than 93.9% of the neighborhoods in Illinois and 82.8% of the neighborhoods in the U.S.
The average rental price in Old Town South is currently $3,809, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 95.3% of the neighborhoods in Illinois.
Old Town South is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
Old Town 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 townhomes. Most of the residential real estate is renter occupied. Many of the residences in the Old Town South neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
Home and apartment vacancy rates are 9.3% in Old Town South. NeighborhoodScout analysis shows that this rate is lower than 40.1% of the neighborhoods in the nation, approximately near the middle range for vacancies.
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.
More people in Old Town South choose to walk to work each day (23.4%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Also, in the Old Town South neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 32.2% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 96.2% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
Finally, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 12.2% of the Old Town South neighborhood's commuters ride the train to and from work each day, which is more than we found in 96.0% of America's neighborhoods.
One of the really unique and interesting things about the look and setting of the Old Town South neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 88.7% 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 98.0% of all neighborhoods in America.
In addition, if you like the look and ambience of new homes and newly built neighborhoods, you will love the Old Town South neighborhood. A whopping 84.4% of the homes and other residential real estate here were built after 1999, which is a higher proportion of new homes then you will find in 97.9% of the neighborhoods in the U.S. Everything here just feels new. In fact, the concentration of newer homes here is so great that they completely dominate the landscape. In most neighborhoods, there is a mixture of ages of residential real estate, but here it is almost completely built during one time frame: 2000 through today.
Furthermore, the Old Town South 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 88.4% 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.
Also of note, renter-occupied real estate is dominant in the Old Town South neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 88.0%, which is higher than 96.2% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.
A unique characteristic about the people in the Old Town South neighborhood is that a majority of them are young, single professionals. In fact, there are more young, single professionals in this one community than 97.5% of neighborhoods in the U.S. Here you'll find an active nightlife nearby with lots of opportunities to flirt and find romance.
In addition, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 76.9% of the adults living in the Old Town South neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 96.7% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
Also, with more than 1.8% of residents living with a same sex partner, Old Town South is truly a neighborhood that stands out from the rest in this regard. In fact, exclusive analysis by NeighborhoodScout reveals that this neighborhood has a greater concentration of same sex couples than 96.0% of U.S. neighborhoods.
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 Old Town South neighborhood has a highly unusual pattern of car ownership. 29.8% 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.
The Old Town South neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 96.1% of the neighborhoods in America. In fact, 72.0% 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.
Significantly, 0.6% 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 95.7% of the neighborhoods in America.
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 Old Town South 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 76.5% of the neighborhoods in America. In addition, 6.7% 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 59.0% 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 Old Town South neighborhood, 72.0% 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 12.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.8%), and 5.7% in manufacturing and laborer occupations.
Languages
The most common language spoken in the Old Town South neighborhood is English, spoken by 84.9% of households. Some people also speak Chinese (5.4%).
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 Old Town South neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Irish (11.6%). There are also a number of people of German ancestry (11.5%), and residents who report Asian roots (10.5%), and some of the residents are also of Italian ancestry (10.5%), along with some Sub-Saharan African ancestry residents (7.8%), among others. In addition, 11.8% 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 Old Town South neighborhood spend between 15 and 30 minutes commuting one-way to work (56.2% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (23.4%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (17.0%) and 12.2% of residents also take the train for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
