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Real Estate Prices & Overview

Mile Square East median real estate price is $493,511, which is more expensive than 92.8% of the neighborhoods in Indiana and 63.2% of the neighborhoods in the U.S.

The average rental price in Mile Square East is currently $2,378, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 94.3% of the neighborhoods in Indiana.

Mile Square East is a densely urban neighborhood (based on population density) located in Indianapolis, Indiana.

Mile Square East 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 Mile Square East 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 7.6% in Mile Square East. NeighborhoodScout analysis shows that this rate is lower than 50.3% of the neighborhoods in the nation, approximately near the middle range for vacancies.

Notable & Unique Neighborhood Characteristics

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.

People

Of note is NeighborhoodScout's research finding that the Mile Square East 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 Mile Square East community truly stands out from the rest in this regard.

In addition, of particular note, 3.4% of the people in the Mile Square East neighborhood currently reside in a correction facility, held due to punishment for a crime.

Occupations

Executives, managers and professionals make up 80.1% of the workforce in the Mile Square East neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 99.1% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

Real Estate

The Mile Square East 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 95.3% 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.

In addition, one of the really unique and interesting things about the look and setting of the Mile Square East neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 84.2% 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 97.3% of all neighborhoods in America.

Modes of Transportation

If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 6.6% of residents in the Mile Square East neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 99.0% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Also, in the Mile Square East neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 19.6% of residents here. This is a higher proportion of walking commuters than we found in 98.1% of American neighborhoods. Get ready to put on your walking shoes if you move here!

Diversity

Did you know that the Mile Square East neighborhood has more British and Iranian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.1% of this neighborhood's residents have British ancestry and 1.5% have Iranian ancestry.

Migration / Stability

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 Mile Square East neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 98.7% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

The Neighbors

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 Mile Square East neighborhood in Indianapolis are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 66.1% 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.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Mile Square East neighborhood, 80.1% 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 9.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (7.2%), and 4.4% in government jobs, whether they are in local, state, or federal positions.

Languages

The most common language spoken in the Mile Square East neighborhood is English, spoken by 89.0% of households. Some people also speak Spanish (3.3%).

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 Mile Square East neighborhood in Indianapolis, IN, residents most commonly identify their ethnicity or ancestry as German (21.0%). There are also a number of people of English ancestry (13.6%), and residents who report Irish roots (11.9%), and some of the residents are also of Asian ancestry (8.4%), along with some Italian ancestry residents (5.1%), among others. In addition, 12.6% of the residents of this neighborhood were born in another country.

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 Mile Square East neighborhood spend under 15 minutes commuting one-way to work (39.4% of working residents), one of the shortest commutes across America.

Here most residents (49.4%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (19.6%) and 6.6% of residents also bicycle 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.


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