N Franklin St / W Erie St median real estate price is $824,943, which is more expensive than 91.4% of the neighborhoods in Illinois and 79.8% of the neighborhoods in the U.S.
The average rental price in N Franklin St / W Erie St is currently $4,647, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 98.8% of the neighborhoods in Illinois.
N Franklin St / W Erie St is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
N Franklin St / W Erie St 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 single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the N Franklin St / W Erie St neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.
Home and apartment vacancy rates are 7.2% in N Franklin St / W Erie St. NeighborhoodScout analysis shows that this rate is lower than 52.6% of the neighborhoods in the nation, approximately near the middle range for vacancies.
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 N Franklin St / W Erie St neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the N Franklin St / W Erie St neighborhood is wealthier than 95.8% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood. As one would expect in a considerably wealthy neighborhood such as this, N Franklin St / W Erie St also has one of the lowest ratings of child poverty in the nation.
In addition, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 93.3% of the adults living in the N Franklin St / W Erie St neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 99.9% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
Also, think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the N Franklin St / W Erie St neighborhood: a neighborhood in which more "urban sophisticates" live than 96.9% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for young, single professionals and college students.
The real estate in the N Franklin St / W Erie St neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 95.1% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.0% of American neighborhoods.
In addition, the N Franklin St / W Erie St neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 42,012 persons per square mile in the neighborhood, it is more packed with people than 98.0% of the nation's neighborhoods.
Furthermore, the N Franklin St / W Erie St neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 88.1% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
In the N Franklin St / W Erie St neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 27.9% of residents here. This is a higher proportion of walking commuters than we found in 99.0% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, in the N Franklin St / W Erie St neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 30.7% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 97.2% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
Finally, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 11.4% of the N Franklin St / W Erie St 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.
Executives, managers and professionals make up 76.5% of the workforce in the N Franklin St / W Erie St neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 98.2% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the N Franklin St / W Erie St neighborhood has a highly unusual pattern of car ownership. 30.2% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.2% of U.S. neighborhoods.
Did you know that the N Franklin St / W Erie St neighborhood has more Lithuanian and British ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.0% of this neighborhood's residents have Lithuanian ancestry and 3.5% have British ancestry.
N Franklin St / W Erie St is also pretty special linguistically. Significantly, 1.7% of its residents five years old and above primarily speak Portuguese at home. While this may seem like a small percentage, it is higher than 97.1% of the neighborhoods in America.
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 N Franklin St / W Erie St neighborhood in Chicago are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 95.8% of the neighborhoods in America. In addition, 0.0% 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 100.0% 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 N Franklin St / W Erie St neighborhood, 76.5% 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 14.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (5.3%), and 3.2% in manufacturing and laborer occupations.
The most common language spoken in the N Franklin St / W Erie St neighborhood is English, spoken by 78.8% of households. Some people also speak Spanish (10.3%).
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 N Franklin St / W Erie St neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as German (21.0%). There are also a number of people of Irish ancestry (16.1%), and residents who report Italian roots (9.1%), and some of the residents are also of English ancestry (8.4%), along with some Asian ancestry residents (7.1%), among others. In addition, 17.2% of the residents of this neighborhood were born in another country.
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 N Franklin St / W Erie St neighborhood spend between 15 and 30 minutes commuting one-way to work (41.5% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (27.9%) 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 (21.5%) and 11.4% of residents also take the train 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.