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Real Estate Prices & Overview

Albany Park East median real estate price is $730,731, which is more expensive than 93.6% of the neighborhoods in Illinois and 81.5% of the neighborhoods in the U.S.

The average rental price in Albany Park East is currently $2,455, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 74.8% of the neighborhoods in Illinois.

Albany Park East is a densely urban neighborhood (based on population density) located in Chicago, Illinois.

Albany Park East real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Albany Park East 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.

Albany Park East has a 10.8% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 64.8% 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.

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 Chicago, the Albany Park East neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

If you like crowded places, then you will probably enjoy the the Albany Park East neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 95.7% of neighborhoods in the U.S., with 23,516 people per square mile living here. Being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the Albany Park East neighborhood is one of the most walkable neighborhoods in America.

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 Albany Park East 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 39.5% of the real estate here is made up of such dwellings, which is higher than 97.0% of all U.S. neighborhoods.

Furthermore, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 72.5% of the residential real estate in the Albany Park East neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 99.0% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Modes of Transportation

If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 30.1% of the Albany Park East neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.2% of America's neighborhoods.

People

Albany Park East has the amazing distinction of housing more same sex couples living together than 97.3% of neighborhoods in the U.S. If you are seeking such a neighborhood, NeighborhoodScout's analysis shows that this is one place that you should consider.

In addition, 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 Albany Park East neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 95.0% 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 Albany Park East neighborhood.

Diversity

Did you know that the Albany Park East neighborhood has more South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.1% of this neighborhood's residents have South American ancestry.

Albany Park East is also pretty special linguistically. Significantly, 3.4% of its residents five years old and above primarily speak Tagalog, which is the first language of the Philippine region, at home. While this may seem like a small percentage, it is higher than 96.5% of the neighborhoods in America.

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 Albany Park East neighborhood in Chicago are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 74.5% of the neighborhoods in America. With 21.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 71.0% 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 Albany Park East neighborhood, 50.0% 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 26.9% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (13.3%), and 9.8% 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 Albany Park East neighborhood is English, spoken by 55.3% of households. Other important languages spoken here include Spanish and Tagalog (the first language of the Philippine region).

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 Albany Park East neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Mexican (21.2%). There are also a number of people of Irish ancestry (15.7%), and residents who report German roots (11.3%), and some of the residents are also of Asian ancestry (8.1%), along with some English ancestry residents (6.8%), among others. In addition, 28.0% of the residents of this neighborhood were born in another country.

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 Albany Park East neighborhood spend between 45 minutes and one hour commuting one-way to work (35.9% of working residents), longer and tougher than most commutes in America.

Here most residents (30.6%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (30.1%) and 9.0% of residents also carpool with coworkers, friends, or neighbors 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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