E 61st St / S Michigan Ave median real estate price is $11,032, which is less expensive than 100.0% of Illinois neighborhoods and 100.0% of all U.S. neighborhoods.
The average rental price in E 61st St / S Michigan Ave is currently $1,542, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 68.2% of Illinois neighborhoods.
E 61st St / S Michigan Ave is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
E 61st St / S Michigan Ave 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 renter occupied. Many of the residences in the E 61st St / S Michigan Ave neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built before 1940.
E 61st St / S Michigan Ave has a 12.4% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 70.7% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
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.
Our research revealed that more commuters here take the bus to work (42.6% ride the bus) than 99.9% 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.
Also, in the E 61st St / S Michigan Ave neighborhood, 17.4% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 96.9% of the neighborhoods in America.
The E 61st St / S Michigan Ave neighborhood stands out for having an average per capita income lower than 99.2% of the neighborhoods in the United States. Also of note, 83.6% of the children in this area live in poverty; an extraordinarily high percentage compared to other neighborhoods in the nation. In a nation where approximately one in four children grows up in poverty, this neighborhood stands out for the depth of the problem manifested here.
In addition, one of the most interesting things about the E 61st St / S Michigan Ave neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 49.6% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 95.4% of the neighborhoods in America.
American households most often have a car, and regularly they have two or three. But households in the E 61st St / S Michigan Ave neighborhood buck this trend. 65.8% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.4% of U.S. neighborhoods.
95.1% of the real estate in the E 61st St / S Michigan Ave neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.
In addition, the real estate in the E 61st St / S Michigan Ave 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, 77.8% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 96.4% of American neighborhoods.
From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the E 61st St / S Michigan Ave neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 96.8% of all American neighborhoods.
Did you know that the E 61st St / S Michigan Ave neighborhood has more African and Sub-Saharan African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 14.0% of this neighborhood's residents have African ancestry and 17.7% have Sub-Saharan African 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 E 61st St / S Michigan Ave 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 99.2% of U.S. neighborhoods. With 83.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 99.5% of U.S. neighborhoods.
The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.
In the E 61st St / S Michigan Ave neighborhood, 40.6% 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 clerical, assistant, and tech support occupations, with 31.6% of the residents employed. Other residents here are employed in executive, management, and professional occupations (15.9%), and 11.9% in manufacturing and laborer occupations.
The most common language spoken in the E 61st St / S Michigan Ave neighborhood is English, spoken by 94.9% of households. Some people also speak Spanish (3.2%).
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 E 61st St / S Michigan Ave neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (17.7%). There are also a number of people of African ancestry (14.0%).
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 E 61st St / S Michigan Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (57.1% of working residents), longer and tougher than most commutes in America.
Here most residents (42.6%) ride the bus to get to work. In addition, quite a number also drive alone in a private automobile to get to work (26.2%) and 17.4% of residents also take the train for their daily commute. The bus provides a valuable service in the E 61st St / S Michigan Ave neighborhood of Chicago by getting a lot of residents to and from work daily, reducing the costs of commuting and reducing some congestion on the roads as well.