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Real Estate Prices & Overview

Monroe Park West median real estate price is $182,326, which is less expensive than 76.4% of Illinois neighborhoods and 84.4% of all U.S. neighborhoods.

The average rental price in Monroe Park West is currently $1,424, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 72.3% of Illinois neighborhoods.

Monroe Park West is a suburban neighborhood (based on population density) located in Springfield, Illinois.

Monroe Park West real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Monroe Park West neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Real estate vacancies in Monroe Park West are 4.5%, which is lower than one will find in 67.8% of American neighborhoods. Demand for real estate in Monroe Park West is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

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 Springfield, the Monroe Park West neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Most neighborhoods are composed of a mixture of ages of homes, but the Monroe Park West stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 87.2% of the residential real estate here was built in this one time period.

In addition, if you love row houses and attached homes, you will probably really like the Monroe Park West neighborhood. The ambiance, the charm, of row houses is something special. And in sheer abundance of row houses, this neighborhood truly stands out. The real estate here has a higher proportion of row houses and attached homes than nearly any neighborhood in America. In fact, 28.6% of the residential real estate here is classified as row houses and attached homes.

Occupations

With 2.4% of employed workers living in the Monroe Park West neighborhood active in the military, this neighborhood has the distinction of having a higher proportion of people in the military than 96.7% of American neighborhoods. This is a major shaper of the neighborhood's culture and character.

Furthermore, the Monroe Park West neighborhood has a greater proportion of government workers living in it than 96.7% of the neighborhoods in America, according to NeighborhoodScout's exclusive analysis. This is a unique feature of this neighborhood, and one that shapes its character.

Diversity

Did you know that the Monroe Park West neighborhood has more Scots-Irish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.3% of this neighborhood's residents have Scots-Irish ancestry.

Monroe Park West is also pretty special linguistically. Significantly, 2.7% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 97.3% of the neighborhoods in America.

The Neighbors

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 Monroe Park West neighborhood in Springfield are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 71.4% of the neighborhoods in America. In addition, 4.1% 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 66.5% 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 Monroe Park West neighborhood, 59.6% 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 19.6% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (14.3%), and 10.7% 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 Monroe Park West neighborhood is English, spoken by 92.2% of households. Other important languages spoken here include Italian and Korean.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Monroe Park West neighborhood in Springfield, IL, residents most commonly identify their ethnicity or ancestry as German (20.7%). There are also a number of people of Irish ancestry (14.5%), and residents who report English roots (11.3%), and some of the residents are also of Asian ancestry (5.2%), along with some Scots-Irish ancestry residents (4.3%), among others.

Getting to Work

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 Monroe Park West neighborhood spend under 15 minutes commuting one-way to work (43.7% of working residents), one of the shortest commutes across America.

Here most residents (68.1%) drive alone in a private automobile to get to work. 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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