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Real Estate Prices & Overview

Armour Square median real estate price is $440,801, which is more expensive than 77.0% of the neighborhoods in Illinois and 60.1% of the neighborhoods in the U.S.

The average rental price in Armour Square is currently $2,610, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 76.1% of the neighborhoods in Illinois.

Armour Square is a densely urban neighborhood (based on population density) located in Chicago, Illinois.

Armour Square real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings 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 Armour Square 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.

Real estate vacancies in Armour Square are 4.7%, which is lower than one will find in 68.4% of American neighborhoods. Demand for real estate in Armour Square is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

Notable & Unique Neighborhood Characteristics

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 Chicago, the Armour Square neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the Armour Square neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 52.2% of the real estate here is made up of such dwellings, which is higher than 98.6% of all U.S. neighborhoods.

In addition, being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the Armour Square neighborhood is one of the most walkable neighborhoods in America.

Modes of Transportation

If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 4.0% of residents in the Armour Square neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 97.3% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Also, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 11.4% of the Armour Square neighborhood's commuters ride the train to and from work each day, which is more than we found in 95.5% of America's neighborhoods.

Diversity

Did you know that the Armour Square neighborhood has more Asian and Brazilian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 55.3% of this neighborhood's residents have Asian ancestry and 2.6% have Brazilian ancestry.

Armour Square is also pretty special linguistically. Significantly, 46.9% of its residents five years old and above primarily speak Chinese at home. This is a higher percentage than 99.9% of all U.S. neighborhoods.

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. What is interesting to note, is that the Armour Square neighborhood has a greater percentage of residents born in another country (51.1%) than are found in 97.9% of all U.S. neighborhoods.

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 Armour Square neighborhood in Chicago are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 80.6% of U.S. neighborhoods. With 31.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 82.3% of U.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 Armour Square neighborhood, 54.5% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 19.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (13.4%), and 12.4% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

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 Armour Square neighborhood is Chinese, spoken by 46.9% of households. Other important languages spoken here include English, Italian, Spanish and Tagalog (the first language of the Philippine region).

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 Armour Square neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Asian (55.3%). There are also a number of people of Italian ancestry (9.4%), and residents who report English roots (5.4%), and some of the residents are also of Mexican ancestry (2.7%), along with some Brazilian ancestry residents (2.6%), among others. In addition, 51.1% 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 Armour Square neighborhood spend between 15 and 30 minutes commuting one-way to work (38.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (45.5%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (13.9%) and 11.4% of residents also take the train 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.


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