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Real Estate Prices & Overview

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.

Notable & Unique Neighborhood Characteristics

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.

Modes of Transportation

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.

Diversity

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.

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. 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.

The Neighbors

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.

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 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.

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 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).

Ethnicity / Ancestry

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 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.

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 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.


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