University Village / Little Italy median real estate price is $505,438, which is more expensive than 80.5% of the neighborhoods in Illinois and 65.1% of the neighborhoods in the U.S.
The average rental price in University Village / Little Italy is currently $3,219, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 88.9% of the neighborhoods in Illinois.
University Village / Little Italy is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
University Village / Little Italy 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 University Village / Little Italy neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
University Village / Little Italy has a 10.9% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 65.4% 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 University Village / Little Italy neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Modes of Transportation
More people in University Village / Little Italy choose to walk to work each day (30.8%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Also, our research revealed that more commuters here take the bus to work (18.2% ride the bus) than 98.2% 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.
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 University Village / Little Italy neighborhood has a highly unusual pattern of car ownership. 42.1% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.3% of U.S. neighborhoods.
People
The University Village / Little Italy neighborhood has a greater percentage of children living in poverty (68.0%) than found in 98.3% 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.
Real Estate
The University Village / Little Italy neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 32,502 persons per square mile in the neighborhood, it is more packed with people than 97.2% of the nation's neighborhoods.
In addition, corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the University Village / Little Italy neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 30.9% of the real estate here is made up of such dwellings, which is higher than 95.0% of all U.S. neighborhoods.
Occupations
The University Village / Little Italy neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 95.6% of the neighborhoods in America. In fact, 70.3% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Diversity
Did you know that the University Village / Little Italy neighborhood has more Armenian and Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.0% of this neighborhood's residents have Armenian ancestry and 32.6% have Asian ancestry.
University Village / Little Italy is also pretty special linguistically. Significantly, 5.7% of its residents five years old and above primarily speak Langs. of India at home. While this may seem like a small percentage, it is higher than 97.8% of the neighborhoods in America.
Migration / Stability
The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the University Village / Little Italy neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 96.4% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 University Village / Little Italy 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 86.6% of U.S. neighborhoods. With 68.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 98.3% 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 University Village / Little Italy neighborhood, 70.3% 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 17.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (7.8%), and 5.6% in government jobs, whether they are in local, state, or federal positions.
Languages
The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the University Village / Little Italy neighborhood is English, spoken by 47.6% of households. Other important languages spoken here include Spanish, Chinese, Langs. of India and French.
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 University Village / Little Italy neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Asian (32.6%). There are also a number of people of Puerto Rican ancestry (10.2%), and residents who report Mexican roots (6.9%), and some of the residents are also of Polish ancestry (6.7%), along with some German ancestry residents (6.6%), among others. In addition, 34.9% 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 University Village / Little Italy neighborhood spend between 15 and 30 minutes commuting one-way to work (37.7% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (30.8%) 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 (28.8%) and 18.2% of residents also ride the bus 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.
