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Real Estate Prices & Overview

Michael John Terrace median real estate price is $840,948, which is more expensive than 94.0% of the neighborhoods in Illinois and 83.7% of the neighborhoods in the U.S.

The average rental price in Michael John Terrace is currently $3,384, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 91.3% of the neighborhoods in Illinois.

Michael John Terrace is an urban neighborhood (based on population density) located in Park Ridge, Illinois.

Michael John Terrace real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Michael John Terrace 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.

Real estate vacancies in Michael John Terrace are 5.0%, which is lower than one will find in 66.8% of American neighborhoods. Demand for real estate in Michael John Terrace is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

People

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 Michael John Terrace neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 99.7% 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 Michael John Terrace neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives, families with school-aged children and active retirees.

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 76.8% of the adults living in the Michael John Terrace neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 96.8% of U.S. neighborhoods. In this way, this neighborhood truly stands out.

Also, priests and therapists would like to think they know the secrets to a truly successful marriage, but according to NeighborhoodScout's research, the folks of the Michael John Terrace neighborhood may actually hold the key. 69.8% of its residents are married, which is a higher percentage than is found in 96.1% of the neighborhoods in America.

Modes of Transportation

If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 15.6% of the Michael John Terrace neighborhood's commuters ride the train to and from work each day, which is more than we found in 96.5% of America's neighborhoods.

Diversity

Did you know that the Michael John Terrace neighborhood has more Belgian and Ukrainian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.5% of this neighborhood's residents have Belgian ancestry and 4.5% have Ukrainian ancestry.

The Neighbors

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 Michael John Terrace neighborhood in Park Ridge 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 93.9% of the neighborhoods in America. In addition, 5.4% 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 63.2% 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 Michael John Terrace neighborhood, 56.4% 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 33.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (5.7%), and 4.7% in manufacturing and laborer occupations.

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 Michael John Terrace neighborhood is English, spoken by 87.4% of households. Other important languages spoken here include Polish and Spanish.

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 Michael John Terrace neighborhood in Park Ridge, IL, residents most commonly identify their ethnicity or ancestry as Irish (24.2%). There are also a number of people of German ancestry (22.9%), and residents who report Italian roots (17.3%), and some of the residents are also of Polish ancestry (10.8%), along with some English ancestry residents (10.5%), among others.

Getting to Work

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 Michael John Terrace neighborhood spend between 15 and 30 minutes commuting one-way to work (34.1% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (58.1%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (15.6%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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