E 62nd St / S University Ave median real estate price is $327,742, which is more expensive than 56.4% of the neighborhoods in Illinois and 43.2% of the neighborhoods in the U.S.
The average rental price in E 62nd St / S University Ave is currently $2,215, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 62.1% of the neighborhoods in Illinois.
E 62nd St / S University Ave is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
E 62nd St / S University Ave real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two 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 62nd St / S University Ave 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 1970 and 1999.
E 62nd St / S University Ave has a 14.9% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 78.8% 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 62nd St / S University Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
In the E 62nd St / S University Ave neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 41.3% of residents here. This is a higher proportion of walking commuters than we found in 99.6% of American neighborhoods. Get ready to put on your walking shoes if you move here!
NeighborhoodScout's analysis shows that the E 62nd St / S University Ave neighborhood has a greater concentration of residents currently enrolled in college than 99.3% of the neighborhoods in the U.S. With 52.3% of the population here attending college, this is very much a college-focused neighborhood.
In addition, one of the really interesting characteristics about the E 62nd St / S University Ave neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 2.1% of college-friendly places to live in the state of Illinois.
Also, the E 62nd St / S University Ave neighborhood has a greater percentage of children living in poverty (52.9%) than found in 95.2% 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.
If you like crowded places, then you will probably enjoy the the E 62nd St / S University Ave neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.9% of neighborhoods in the U.S., with 29,776 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 E 62nd St / S University Ave neighborhood is among the top 5% of American neighborhoods in terms of walkability.
In addition, one of the really unique and interesting things about the look and setting of the E 62nd St / S University Ave neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 78.4% 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 96.5% of all neighborhoods in America.
Furthermore, 86.9% of the real estate in the E 62nd St / S University Ave neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood 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 62nd St / S University Ave neighborhood has a highly unusual pattern of car ownership. 32.4% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.4% of U.S. neighborhoods.
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 E 62nd St / S University Ave neighborhood. In the E 62nd St / S University Ave neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 97.9% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Did you know that the E 62nd St / S University Ave neighborhood has more Canadian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.2% of this neighborhood's residents have Canadian ancestry.
E 62nd St / S University Ave is also pretty special linguistically. Significantly, 1.9% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 95.8% 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 E 62nd St / S University 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 89.7% of U.S. neighborhoods. With 52.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 95.2% of U.S. neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the E 62nd St / S University Ave neighborhood, 55.4% 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 28.9% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (8.1%), and 7.5% in clerical, assistant, and tech support 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 E 62nd St / S University Ave neighborhood is English, spoken by 76.2% of households. Other important languages spoken here include Spanish and Chinese.
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 E 62nd St / S University Ave neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Asian (19.7%). There are also a number of people of English ancestry (6.6%), and residents who report German roots (6.5%), and some of the residents are also of Sub-Saharan African ancestry (5.8%), along with some Irish ancestry residents (3.7%), among others. In addition, 17.5% 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 E 62nd St / S University Ave neighborhood spend under 15 minutes commuting one-way to work (37.3% of working residents), one of the shortest commutes across America.
Here most residents (41.3%) 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 (17.6%) and 6.9% 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.
