E 78th St / S Exchange Ave median real estate price is $153,422, which is less expensive than 80.9% of Illinois neighborhoods and 86.2% of all U.S. neighborhoods.
The average rental price in E 78th St / S Exchange Ave is currently $1,920, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 51.3% of Illinois neighborhoods.
E 78th St / S Exchange Ave is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
E 78th St / S Exchange Ave 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 small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the E 78th St / S Exchange 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.
Vacant apartments or homes are a major fact of life in E 78th St / S Exchange Ave. The current real estate vacancy rate here is 32.2%. This is higher than the rate of vacancies in 95.6% 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.
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.
More people ride the bus in this neighborhood each day to get to work than 99.8% of U.S. neighborhoods.
If you like crowded places, then you will probably enjoy the the E 78th St / S Exchange Ave neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 95.6% of neighborhoods in the U.S., with 23,014 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 78th St / S Exchange Ave neighborhood is among the top 5% of American neighborhoods in terms of walkability.
In addition, three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The E 78th St / S Exchange Ave neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 40.0% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 97.1% of America's neighborhoods.
Furthermore, 86.0% of the real estate in the E 78th St / S Exchange Ave neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America. Despite all of the residential real estate here in the E 78th St / S Exchange Ave neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 32.2%, which is higher than 95.6% of all U.S. neighborhoods.
Also of note, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The E 78th St / S Exchange Ave neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 72.8% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 99.0% of the neighborhoods in the United States.
American households most often have a car, and regularly they have two or three. But households in the E 78th St / S Exchange Ave neighborhood buck this trend. 28.4% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.0% of U.S. neighborhoods.
Did you know that the E 78th St / S Exchange Ave neighborhood has more Sub-Saharan African and Croatian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 25.0% of this neighborhood's residents have Sub-Saharan African ancestry and 0.9% have Croatian ancestry.
E 78th St / S Exchange Ave is also pretty special linguistically. Significantly, 3.5% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 97.6% of the neighborhoods in America.
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 E 78th St / S Exchange Ave neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.5% 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 78th St / S Exchange 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 92.8% of U.S. neighborhoods. With 16.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 62.8% of U.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 E 78th St / S Exchange Ave neighborhood, 36.4% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 24.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (22.0%), and 17.1% in manufacturing and laborer occupations.
The most common language spoken in the E 78th St / S Exchange Ave neighborhood is English, spoken by 95.8% of households. Some people also speak African languages (3.5%).
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 E 78th St / S Exchange Ave neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (25.0%). There are also a number of people of Italian ancestry (3.5%), and residents who report African roots (3.3%).
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 78th St / S Exchange Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (61.9% of working residents), longer and tougher than most commutes in America.
Here most residents (36.5%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (34.4%) and 9.8% of residents also carpool with coworkers, friends, or neighbors 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.