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Real Estate Prices & Overview

Mile Square East median real estate price is $508,771, which is more expensive than 92.1% of the neighborhoods in Indiana and 63.8% of the neighborhoods in the U.S.

The average rental price in Mile Square East is currently $2,081, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 90.5% of the neighborhoods in Indiana.

Mile Square East is a densely urban neighborhood (based on population density) located in Indianapolis, Indiana.

Mile Square East 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 townhomes. Most of the residential real estate is renter occupied. Many of the residences in the Mile Square East neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Mile Square East has a 9.5% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 60.6% 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.

Notable & Unique Neighborhood Characteristics

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 Indianapolis, the Mile Square East neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

In a nation where 1 out of every 4 children lives in poverty, the Mile Square East neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, one of the most interesting things about the Mile Square East neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 57.4% 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 98.2% of the neighborhoods in America.

Occupations

The Mile Square East neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.5% of the neighborhoods in America. In fact, 83.7% 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.

Real Estate

The Mile Square East neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 95.7% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

In addition, one of the really unique and interesting things about the look and setting of the Mile Square East neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 79.6% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 96.6% of all neighborhoods in America.

Modes of Transportation

If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 5.1% of residents in the Mile Square East neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 98.3% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

Also, more people in Mile Square East choose to walk to work each day (15.9%) 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.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Mile Square East neighborhood. In the Mile Square East neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 98.9% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

Diversity

Did you know that the Mile Square East neighborhood has more Iranian and British ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.5% of this neighborhood's residents have Iranian ancestry and 2.5% have British 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 Mile Square East neighborhood in Indianapolis are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 62.8% 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.

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 Mile Square East neighborhood, 83.7% 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 7.6% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (6.3%), and 5.6% in government jobs, whether they are in local, state, or federal positions.

Languages

The most common language spoken in the Mile Square East neighborhood is English, spoken by 86.3% of households. Some people also speak Spanish (5.2%).

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 Mile Square East neighborhood in Indianapolis, IN, residents most commonly identify their ethnicity or ancestry as German (18.8%). There are also a number of people of Irish ancestry (13.4%), and residents who report English roots (12.9%), and some of the residents are also of Asian ancestry (8.8%), along with some Italian ancestry residents (6.3%), among others. In addition, 13.8% of the residents of this neighborhood were born in another country.

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 Mile Square East neighborhood spend under 15 minutes commuting one-way to work (38.7% of working residents), one of the shortest commutes across America.

Here most residents (53.2%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (15.9%) and 5.1% of residents also bicycle for their daily commute. 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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