E 62nd St / S University Ave median real estate price is $346,661, which is more expensive than 62.5% of the neighborhoods in Illinois and 47.6% of the neighborhoods in the U.S.
The average rental price in E 62nd St / S University Ave is currently $1,984, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 47.9% of Illinois neighborhoods.
E 62nd St / S University Ave is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
E 62nd St / S University Ave real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the E 62nd St / S University Ave neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1970 and 1999.
E 62nd St / S University Ave has a 14.7% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 77.2% 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.
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.
Modes of Transportation
More people in E 62nd St / S University Ave choose to walk to work each day (38.4%) 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.
Also, more people ride the bus in this neighborhood each day to get to work than 95.2% of U.S. neighborhoods.
People
NeighborhoodScout's analysis shows that the E 62nd St / S University Ave neighborhood has a greater concentration of residents currently enrolled in college than 99.2% of the neighborhoods in the U.S. With 51.4% of the population here attending college, this is very much a college-focused neighborhood.
In addition, one of the really interesting characteristics about the E 62nd St / S University Ave neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 4.2% of college-friendly places to live in the state of Illinois.
Also, of note, 53.7% of the children in this area live in poverty; an extraordinarily high percentage compared to other neighborhoods in the nation. In a nation where approximately one in four children grows up in poverty, this neighborhood stands out for the depth of the problem manifested here.
Car Ownership
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the E 62nd St / S University Ave neighborhood have a highly unusual car ownership. 41.4% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.2% of U.S. neighborhoods.
Real Estate
If you like crowded places, then you will probably enjoy the the E 62nd St / S University Ave neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.9% of neighborhoods in the U.S., with 29,776 people per square mile living here. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The E 62nd St / S University Ave neighborhood is among the top 5% of American neighborhoods in terms of walkability.
In addition, one of the really unique and interesting things about the look and setting of the E 62nd St / S University Ave neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 78.1% 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 96.4% of all neighborhoods in America.
Furthermore, renter-occupied real estate is dominant in the E 62nd St / S University Ave neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 85.1%, which is higher than 95.4% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.
Diversity
Did you know that the E 62nd St / S University Ave neighborhood has more Canadian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.5% of this neighborhood's residents have Canadian ancestry.
E 62nd St / S University Ave is also pretty special linguistically. Significantly, 5.8% of its residents five years old and above primarily speak Chinese at home. While this may seem like a small percentage, it is higher than 95.8% of the neighborhoods in America.
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 E 62nd St / S University Ave neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 96.9% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 E 62nd St / S University Ave neighborhood in Chicago are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 91.6% of U.S. neighborhoods. With 53.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 95.3% of U.S. neighborhoods.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the E 62nd St / S University Ave neighborhood, 48.3% 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 32.9% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (12.9%), and 5.9% in clerical, assistant, and tech support 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 E 62nd St / S University Ave neighborhood is English, spoken by 79.5% of households. Other important languages spoken here include Spanish and Chinese.
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 E 62nd St / S University Ave neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Asian (17.4%). There are also a number of people of English ancestry (7.5%), and residents who report German roots (6.4%), and some of the residents are also of Sub-Saharan African ancestry (6.1%), along with some Irish ancestry residents (4.7%), among others. In addition, 16.1% of the residents of this neighborhood were born in another country.
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 E 62nd St / S University Ave neighborhood spend under 15 minutes commuting one-way to work (36.7% of working residents), one of the shortest commutes across America.
Here most residents (38.4%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (18.2%) and 10.7% of residents also ride the bus for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
