W Melrose St / N Lakewood Ave median real estate price is $1,600,334, which is more expensive than 99.8% of the neighborhoods in Illinois and 97.2% of the neighborhoods in the U.S.
The average rental price in W Melrose St / N Lakewood Ave is currently $3,954, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 96.7% of the neighborhoods in Illinois.
W Melrose St / N Lakewood Ave is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
W Melrose St / N Lakewood Ave real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) small apartment buildings 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 W Melrose St / N Lakewood Ave neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.
W Melrose St / N Lakewood Ave has a 12.6% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 71.5% 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.
People
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 W Melrose St / N Lakewood Ave neighborhood is wealthier than 99.1% 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, W Melrose St / N Lakewood Ave 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 92.6% of the adults living in the W Melrose St / N Lakewood Ave 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, if you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the W Melrose St / N Lakewood Ave neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 98.9% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the W Melrose St / N Lakewood Ave neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives, college students and young, single professionals.
Finally, w Melrose St / N Lakewood Ave has the amazing distinction of housing more same sex couples living together than 97.9% of neighborhoods in the U.S. If you are seeking such a neighborhood, NeighborhoodScout's analysis shows that this is one place that you should consider.
Modes of Transportation
A unique way of commuting is simply not to. And in the W Melrose St / N Lakewood Ave neighborhood, analysis shows that 39.3% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 99.5% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
Also, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 29.8% of the W Melrose St / N Lakewood Ave neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.1% of America's neighborhoods.
Occupations
Executives, managers and professionals make up 80.0% of the workforce in the W Melrose St / N Lakewood Ave neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 99.1% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Real Estate
Three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The W Melrose St / N Lakewood Ave neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 42.6% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 97.5% of America's neighborhoods.
In addition, if you like crowded places, then you will probably enjoy the the W Melrose St / N Lakewood Ave neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.3% of neighborhoods in the U.S., with 26,437 people per square mile living here. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The W Melrose St / N Lakewood Ave neighborhood is among the top 5% of American neighborhoods in terms of walkability.
Diversity
Did you know that the W Melrose St / N Lakewood Ave neighborhood has more Eastern European and Austrian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.4% of this neighborhood's residents have Eastern European ancestry and 1.4% have Austrian ancestry.
W Melrose St / N Lakewood Ave is also pretty special linguistically. Significantly, 6.4% of its residents five years old and above primarily speak Polish at home. While this may seem like a small percentage, it is higher than 95.5% of the neighborhoods in America.
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 W Melrose St / N Lakewood Ave 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 99.1% 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 W Melrose St / N Lakewood Ave neighborhood, 80.0% 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 12.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (5.8%), and 3.1% in government jobs, whether they are in local, state, or federal positions.
Languages
The most common language spoken in the W Melrose St / N Lakewood Ave neighborhood is English, spoken by 92.1% of households. Some people also speak Polish (6.4%).
Ethnicity / Ancestry
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the W Melrose St / N Lakewood Ave neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Irish (20.3%). There are also a number of people of German ancestry (18.3%), and residents who report English roots (7.8%), and some of the residents are also of Italian ancestry (7.6%), along with some Asian ancestry residents (5.2%), among others.
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in W Melrose St / N Lakewood Ave neighborhood spend between 30 and 45 minutes commuting one-way to work (57.6% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (29.8%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (24.2%) . This neighborhood is distinguished by the high number of residents who take the train to work each day, which can be a very good way to get to work at a lower cost and with less pollution.
