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Real Estate Prices & Overview

Mile Square East median real estate price is $476,693, which is more expensive than 92.5% of the neighborhoods in Indiana and 62.7% of the neighborhoods in the U.S.

The average rental price in Mile Square East is currently $2,266, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 90.4% 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 single-family homes. 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 before 1940.

Mile Square East has a 13.2% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 75.4% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

Notable & Unique Neighborhood Characteristics

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

In a nation where 1 out of every 4 children lives in poverty, the Mile Square East neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, one of the most interesting things about the Mile Square East neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 62.5% 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 99.0% of the neighborhoods in America.

Occupations

The Mile Square East neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.7% of the neighborhoods in America. In fact, 85.9% 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.

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 95.1% 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.

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. 81.8% 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 96.9% of all neighborhoods in America.

Modes of Transportation

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 17.9% of residents here. This is a higher proportion of walking commuters than we found in 97.9% of American neighborhoods. Get ready to put on your walking shoes if you move here!

Migration / Stability

Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. 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 98.9% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

Diversity

Did you know that the Mile Square East neighborhood has more Iranian and Portuguese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.5% of this neighborhood's residents have Iranian ancestry and 1.8% have Portuguese ancestry.

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 middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 55.4% 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, 85.9% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is government jobs, whether they are in local, state, or federal positions, with 8.3% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (7.1%), and 3.6% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Mile Square East neighborhood is English, spoken by 87.2% of households. Some people also speak Spanish (4.2%).

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 Mile Square East neighborhood in Indianapolis, IN, residents most commonly identify their ethnicity or ancestry as German (16.6%). There are also a number of people of English ancestry (14.4%), and residents who report Irish roots (12.4%), and some of the residents are also of Italian ancestry (8.9%), along with some Asian ancestry residents (6.6%), among others. In addition, 13.7% 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 between 15 and 30 minutes commuting one-way to work (38.8% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (55.1%) 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 (17.9%) . 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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