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Real Estate Prices & Overview

E 71st St / Stony Island Ave median real estate price is $319,334, which is more expensive than 57.0% of the neighborhoods in Illinois and 43.1% of the neighborhoods in the U.S.

The average rental price in E 71st St / Stony Island Ave is currently $1,819, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 55.8% of Illinois neighborhoods.

E 71st St / Stony Island Ave is a densely urban neighborhood (based on population density) located in Chicago, Illinois.

E 71st St / Stony Island Ave 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 E 71st St / Stony Island 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.

Vacant apartments or homes are a major fact of life in E 71st St / Stony Island Ave. The current real estate vacancy rate here is 20.9%. This is higher than the rate of vacancies in 87.9% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.

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.

Modes of Transportation

Our research revealed that more commuters here take the bus to work (35.8% ride the bus) than 99.8% 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.

People

One of the unique characteristics of the E 71st St / Stony Island Ave neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 97.3% of the neighborhoods in America. The E 71st St / Stony Island Ave neighborhood also has a greater percentage of children living in poverty (66.5%) than found in 98.0% 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.

In addition, whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the E 71st St / Stony Island Ave neighborhood has more single mother households than 96.9% of the neighborhoods in the U.S. Often high concentrations of single mother homes can be a strong indicator of family and social issues such as poverty, high rates of school dropouts, crime, and other societal problems.

Car Ownership

American households most often have a car, and regularly they have two or three. But households in the E 71st St / Stony Island Ave neighborhood buck this trend. 38.5% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.0% of U.S. neighborhoods.

Real Estate

The E 71st St / Stony Island Ave neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 30,959 persons per square mile in the neighborhood, it is more packed with people than 97.1% of the nation's neighborhoods. 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 71st St / Stony Island Ave neighborhood is among the top 5% of American neighborhoods in terms of walkability.

In addition, renter-occupied real estate is dominant in the E 71st St / Stony Island Ave neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 90.1%, which is higher than 96.8% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.

Furthermore, one of the really unique and interesting things about the look and setting of the E 71st St / Stony Island Ave neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 70.5% 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 95.1% of all neighborhoods in America.

Occupations

There are more people living in the E 71st St / Stony Island Ave neighborhood employed as sales and service workers (59.8%) than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.

Diversity

Did you know that the E 71st St / Stony Island Ave neighborhood has more African and Sub-Saharan African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 20.1% of this neighborhood's residents have African ancestry and 25.2% have Sub-Saharan African 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 E 71st St / Stony Island 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 97.3% of U.S. neighborhoods. With 66.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 98.0% of U.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 E 71st St / Stony Island Ave neighborhood, 40.2% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 32.1% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (14.8%), and 12.9% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the E 71st St / Stony Island Ave neighborhood is English, spoken by 99.9% of households.

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the E 71st St / Stony Island Ave neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (25.2%). There are also a number of people of African ancestry (20.1%), and residents who report Jamaican roots (3.2%), and some of the residents are also of Puerto Rican ancestry (1.3%).

Getting to Work

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 E 71st St / Stony Island Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (51.9% of working residents), longer and tougher than most commutes in America.

Here most residents (37.3%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (35.8%) and 7.6% of residents also take the train 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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