E 61st St / S Michigan Ave median real estate price is $10,679, 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 $1,512, 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.
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 E 61st St / S Michigan Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
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, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 17.4% of the E 61st St / S Michigan Ave neighborhood's commuters ride the train to and from work each day, which is more than we found in 96.9% of America's neighborhoods.
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. The E 61st St / S Michigan Ave neighborhood also has a greater percentage of children living in poverty (83.6%) than found in 99.5% 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, 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.
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 E 61st St / S Michigan Ave neighborhood has a highly unusual pattern of car ownership. 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.
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this 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 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 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.