Ravenswood South median real estate price is $424,911, which is more expensive than 71.3% of the neighborhoods in Illinois and 56.1% of the neighborhoods in the U.S.
The average rental price in Ravenswood South is currently $2,670, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 77.8% of the neighborhoods in Illinois.
Ravenswood South is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
Ravenswood 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 renter occupied. Many of the residences in the Ravenswood 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.
In Ravenswood South, the current vacancy rate is 1.6%, which is a lower rate of vacancies than 87.9% of all neighborhoods in the U.S. This means that the housing supply in Ravenswood South is very tight compared to the demand for property here.
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 Ravenswood South neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Of note is NeighborhoodScout's research finding that the Ravenswood South neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Ravenswood South community truly stands out from the rest in this regard.
In addition, one of the most interesting things about the Ravenswood South neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 64.0% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 99.2% of the neighborhoods in America.
If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 28.6% of the Ravenswood South neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.3% of America's neighborhoods.
Also, in the Ravenswood South neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 37.5% 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 97.3% 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.
The real estate in the Ravenswood South neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 81.9% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 97.0% of American neighborhoods.
In addition, 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 Ravenswood South neighborhood is one of the most walkable neighborhoods in America.
Furthermore, the Ravenswood 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 83.1% 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 Ravenswood South neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 85.1%, which is higher than 95.4% 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.
American households most often have a car, and regularly they have two or three. But households in the Ravenswood South neighborhood buck this trend. 25.1% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 96.3% of U.S. neighborhoods.
Did you know that the Ravenswood South neighborhood has more Yugoslav and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.7% of this neighborhood's residents have Yugoslav ancestry and 6.9% have Russian ancestry.
Ravenswood South is also pretty special linguistically. Significantly, 12.1% of its residents five years old and above primarily speak Italian at home. While this may seem like a small percentage, it is higher than 98.6% of the neighborhoods in America.
The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the Ravenswood South neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.3% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 Ravenswood South neighborhood in Chicago are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 49.2% 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.
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 Ravenswood South neighborhood, 63.1% 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 15.7% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (15.7%), and 5.6% in manufacturing and laborer occupations.
Languages
The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Ravenswood South neighborhood is English, spoken by 91.1% of households. Other important languages spoken here include Italian and Spanish.
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 Ravenswood South neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Irish (24.4%). There are also a number of people of German ancestry (16.6%), and residents who report Polish roots (11.3%), and some of the residents are also of English ancestry (9.9%), along with some Asian ancestry residents (8.8%), among others. In addition, 12.0% 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 Ravenswood South neighborhood spend between 30 and 45 minutes commuting one-way to work (41.1% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (28.6%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (23.6%) and 5.1% of residents also hop out the door and walk to work for their daily commute. This neighborhood is distinguished by the high number of residents who take the train to work each day, which can be a very good way to get to work at a lower cost and with less pollution.
