New Chicago median real estate price is $50,152, which is less expensive than 99.5% of Tennessee neighborhoods and 99.1% of all U.S. neighborhoods.
The average rental price in New Chicago is currently $1,783, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 47.8% of Tennessee neighborhoods.
New Chicago is a rural neighborhood (based on population density) located in Memphis, Tennessee.
New Chicago real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the New Chicago neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 and the present.
Vacant apartments or homes are a major fact of life in New Chicago. The current real estate vacancy rate here is 34.6%. This is higher than the rate of vacancies in 96.6% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.
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 Memphis, the New Chicago neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Our research reveals that 96.9% of commuters who live in the New Chicago neighborhood get to work each day by driving alone in their automobiles, which is a higher proportion than 99.8% of U.S. neighborhoods.
NeighborhoodScout's exclusive research revealed that 98.0% of the adult residents in the New Chicago neighborhood do not have a 4-year college degree, which is a lower rate of college graduated adults than found in 98.7% of the neighborhoods in America.
In addition, whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the New Chicago neighborhood has more single mother households than 96.9% of the neighborhoods in the U.S. Often high concentrations of single mother homes can be a strong indicator of family and social issues such as poverty, high rates of school dropouts, crime, and other societal problems.
Vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 34.6% of the residential real estate vacant, the New Chicago neighborhood claims the distinction of having a higher vacancy rate than 96.6% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.
More people work in manufacturing and as laborers here in the New Chicago neighborhood than in 96.0% of the neighborhoods in America. Despite the loss of manufacturing jobs across the nation, this neighborhood remains a place where, compared to other parts of the country, you will find many laborers and manufacturers.
Did you know that the New Chicago neighborhood has more Sub-Saharan African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 49.4% of this neighborhood's residents have Sub-Saharan African ancestry.
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 New Chicago neighborhood in Memphis are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 93.4% of U.S. neighborhoods. In addition, 5.8% 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 61.5% 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 New Chicago neighborhood, 42.7% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 33.8% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (19.6%), and 4.0% in executive, management, and professional occupations.
The most common language spoken in the New Chicago neighborhood is English, spoken by 84.7% of households.
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 New Chicago neighborhood in Memphis, TN, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (49.4%).
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 New Chicago neighborhood spend between 15 and 30 minutes commuting one-way to work (67.0% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (96.9%) 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.