S Indiana Ave / E 47th St median real estate price is $451,947, which is more expensive than 78.2% of the neighborhoods in Illinois and 61.4% of the neighborhoods in the U.S.
The average rental price in S Indiana Ave / E 47th St is currently $1,551, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 67.0% of Illinois neighborhoods.
S Indiana Ave / E 47th St is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
S Indiana Ave / E 47th 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 small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the S Indiana Ave / E 47th St 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 1940 and 1969.
In S Indiana Ave / E 47th St, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in S Indiana Ave / E 47th St is very tight compared to the demand for property here.
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.
Real Estate
85.3% of the real estate in the S Indiana Ave / E 47th St neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America. This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the S Indiana Ave / E 47th St neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.
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 S Indiana Ave / E 47th St neighborhood is one of the most walkable neighborhoods in America.
Furthermore, one of the really unique and interesting things about the look and setting of the S Indiana Ave / E 47th St neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 72.0% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 95.4% of all neighborhoods in America.
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 S Indiana Ave / E 47th St neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 60.0% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 96.5% of the neighborhoods in the United States.
People
One of the unique characteristics of the S Indiana Ave / E 47th St neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 98.8% of the neighborhoods in America. The S Indiana Ave / E 47th St neighborhood also has a greater percentage of children living in poverty (71.2%) than found in 98.6% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.
In addition, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 59.2%. This is a higher percent living alone than we found in 98.7% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.
Modes of Transportation
If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 24.2% of the S Indiana Ave / E 47th St neighborhood's commuters ride the train to and from work each day, which is more than we found in 97.6% of America's neighborhoods.
Also, more people ride the bus in this neighborhood each day to get to work than 97.5% of U.S. neighborhoods.
Car Ownership
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 S Indiana Ave / E 47th St neighborhood has a highly unusual pattern of car ownership. 34.3% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.6% of U.S. neighborhoods.
Diversity
Did you know that the S Indiana Ave / E 47th St neighborhood has more Sub-Saharan African and Jamaican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 23.6% of this neighborhood's residents have Sub-Saharan African ancestry and 10.9% have Jamaican ancestry.
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 S Indiana Ave / E 47th St 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 98.8% of U.S. neighborhoods. With 71.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 98.6% 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 S Indiana Ave / E 47th St neighborhood, 35.4% 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 manufacturing and laborer occupations, with 23.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (22.7%), and 18.7% in executive, management, and professional occupations.
Languages
The most common language spoken in the S Indiana Ave / E 47th St neighborhood is English, spoken by 98.1% of households.
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 S Indiana Ave / E 47th St neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (23.6%). There are also a number of people of African ancestry (12.7%), and residents who report Jamaican roots (10.9%), and some of the residents are also of German ancestry (1.2%).
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 S Indiana Ave / E 47th St neighborhood spend between 15 and 30 minutes commuting one-way to work (44.9% 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 take the train to get to work (24.2%) and 15.7% 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.
