Historic Third Ward median real estate price is $518,664, which is more expensive than 84.1% of the neighborhoods in Wisconsin and 65.0% of the neighborhoods in the U.S.
The average rental price in Historic Third Ward is currently $2,863, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 99.2% of the neighborhoods in Wisconsin.
Historic Third Ward is an urban neighborhood (based on population density) located in Milwaukee, Wisconsin.
Historic Third Ward 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 occupied by a mixture of owners and renters. Many of the residences in the Historic Third Ward neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.
Historic Third Ward has a 11.8% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 68.7% of American neighborhoods). A relatively large percentage of housing here is seasonally occupied (6.2%), which can occur in some markets dominated by colleges or vacation homes. If you live here year round, you will find many of the homes or apartments are empty for all or a portion of the year.
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 Milwaukee, the Historic Third Ward neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
Of note is NeighborhoodScout's research finding that the Historic Third Ward 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 Historic Third Ward community truly stands out from the rest in this regard.
In addition, one of the most interesting things about the Historic Third Ward neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 56.1% 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 98.0% of the neighborhoods in America.
Also, the rate of college educated adults in the Historic Third Ward neighborhood is a unique characteristic of the neighborhood. 79.7% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 34.3% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 97.7% of all U.S. neighborhoods.
Finally, if you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Historic Third Ward neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 96.5% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Historic Third Ward neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for young, single professionals and highly educated executives.
Real Estate
The Historic Third Ward 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 94.2% 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 Historic Third Ward neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 93.5% 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 98.7% of all neighborhoods in America.
Modes of Transportation
More people in Historic Third Ward choose to walk to work each day (18.2%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Occupations
The Historic Third Ward neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 97.0% of the neighborhoods in America. In fact, 73.2% 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 Historic Third Ward neighborhood has more German and Belgian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 49.2% of this neighborhood's residents have German ancestry and 1.7% have Belgian 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 Historic Third Ward neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.6% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 Historic Third Ward neighborhood in Milwaukee 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 87.3% 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 Historic Third Ward neighborhood, 73.2% 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 12.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.7%), and 4.9% in manufacturing and laborer occupations.
Languages
The most common language spoken in the Historic Third Ward neighborhood is English, spoken by 93.9% of households. Some people also speak Spanish (3.0%).
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 Historic Third Ward neighborhood in Milwaukee, WI, residents most commonly identify their ethnicity or ancestry as German (49.2%). There are also a number of people of Irish ancestry (16.6%), and residents who report Polish roots (9.5%), and some of the residents are also of Italian ancestry (8.5%), along with some English ancestry residents (6.4%), among others.
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Historic Third Ward neighborhood spend between 15 and 30 minutes commuting one-way to work (45.9% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (55.3%) 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 (18.2%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
