Old Park Ridge median real estate price is $918,322, which is more expensive than 97.3% of the neighborhoods in Illinois and 88.9% of the neighborhoods in the U.S.
The average rental price in Old Park Ridge is currently $5,320, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 99.4% of the neighborhoods in Illinois.
Old Park Ridge is an urban neighborhood (based on population density) located in Park Ridge, Illinois.
Old Park Ridge real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Old Park Ridge 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 Old Park Ridge, the current vacancy rate is 1.3%, which is a lower rate of vacancies than 90.3% of all neighborhoods in the U.S. This means that the housing supply in Old Park Ridge is very tight compared to the demand for property here.
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
People
If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 4.3% of America's neighborhoods are wealthier than the Old Park Ridge neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. As one would expect in a considerably wealthy neighborhood such as this, Old Park Ridge also has one of the lowest ratings of child poverty in the nation.
In addition, think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the Old Park Ridge neighborhood: a neighborhood in which more "urban sophisticates" live than 99.9% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for families with school-aged children, highly educated executives and college students.
Also, 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 73.9% of the adults living in the Old Park Ridge neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 95.6% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
Real Estate
Owner-occupied real estate dominates the Old Park Ridge neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 98.4% of neighborhoods in America.
Modes of Transportation
If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 21.9% of the Old Park Ridge neighborhood's commuters ride the train to and from work each day, which is more than we found in 97.4% of America's neighborhoods.
Also, in the Old Park Ridge neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 27.6% 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 95.4% 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.
Occupations
The Old Park Ridge neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 95.3% of the neighborhoods in America. In fact, 69.7% 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.
Diversity
Did you know that the Old Park Ridge neighborhood has more Czechoslovakian and Polish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.1% of this neighborhood's residents have Czechoslovakian ancestry and 17.0% have Polish ancestry.
Old Park Ridge is also pretty special linguistically. Significantly, 0.2% of its residents five years old and above primarily speak Mon-Khmer, which is the dominant language of Cambodia, at home. While this may seem like a small percentage, it is higher than 96.5% of the neighborhoods in America.
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 Old Park Ridge neighborhood in Park Ridge are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 95.7% 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 Old Park Ridge neighborhood, 69.7% 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 17.1% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (7.3%), and 5.9% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Old Park Ridge neighborhood is English, spoken by 88.7% of households. Some people also speak Polish (2.2%).
Ethnicity / Ancestry
Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.
In the Old Park Ridge neighborhood in Park Ridge, IL, residents most commonly identify their ethnicity or ancestry as German (22.3%). There are also a number of people of Irish ancestry (19.4%), and residents who report Polish roots (17.0%), and some of the residents are also of Italian ancestry (15.0%), along with some English ancestry residents (8.4%), 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 Old Park Ridge neighborhood spend between 30 and 45 minutes commuting one-way to work (33.6% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (46.1%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (21.9%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
