Chinatown median real estate price is $491,083, which is more expensive than 77.8% of the neighborhoods in Illinois and 62.5% of the neighborhoods in the U.S.
The average rental price in Chinatown is currently $1,392, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 72.9% of Illinois neighborhoods.
Chinatown is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
Chinatown 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 occupied by a mixture of owners and renters. Many of the residences in the Chinatown neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built before 1940.
Real estate vacancies in Chinatown are 5.1%, which is lower than one will find in 65.5% of American neighborhoods. Demand for real estate in Chinatown 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.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
Our research revealed that more commuters here take the bus to work (13.1% ride the bus) than 96.6% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.
Did you know that the Chinatown neighborhood has more Asian and Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 81.0% of this neighborhood's residents have Asian ancestry and 1.9% have Greek ancestry.
Chinatown is also pretty special linguistically. Significantly, 66.3% of its residents five years old and above primarily speak Chinese at home. This is a higher percentage than 100.0% of all U.S. neighborhoods.
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 Chinatown neighborhood has a greater percentage of residents born in another country (54.3%) than are found in 98.5% of all U.S. neighborhoods.
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 Chinatown 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 81.5% of U.S. neighborhoods. In addition, 1.3% 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 77.8% 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 Chinatown neighborhood, 40.8% 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 31.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (14.0%), and 13.6% in manufacturing and laborer occupations.
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 Chinatown neighborhood is Chinese, spoken by 66.3% of households. Other important languages spoken here include English and Tagalog (the first language of the Philippine region).
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 Chinatown neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Asian (81.0%). There are also a number of people of Italian ancestry (7.5%), and residents who report German roots (3.3%), and some of the residents are also of Greek ancestry (1.9%), along with some Native American ancestry residents (1.4%), among others. In addition, 54.3% 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 Chinatown neighborhood spend between 15 and 30 minutes commuting one-way to work (36.6% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (39.4%) 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 (21.6%) and 13.1% of residents also ride the bus 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.