Fulton Market / West Loop median real estate price is $1,070,963, which is more expensive than 98.6% of the neighborhoods in Illinois and 92.0% of the neighborhoods in the U.S.
The average rental price in Fulton Market / West Loop is currently $4,984, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 99.1% of the neighborhoods in Illinois.
Fulton Market / West Loop is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
Fulton Market / West Loop 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 occupied by a mixture of owners and renters. Many of the residences in the Fulton Market / West Loop neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.
Real estate vacancies in Fulton Market / West Loop are 4.4%, which is lower than one will find in 70.8% of American neighborhoods. Demand for real estate in Fulton Market / West Loop 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.
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
Wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Fulton Market / West Loop neighborhood is wealthier than 98.0% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood. As one would expect in a considerably wealthy neighborhood such as this, Fulton Market / West Loop also has one of the lowest ratings of child poverty in the nation.
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 82.8% of the adults living in the Fulton Market / West Loop neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 98.6% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
Also, 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 Fulton Market / West Loop neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 97.3% 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 Fulton Market / West Loop neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for young, single professionals and highly educated executives.
Finally, one of the most interesting things about the Fulton Market / West Loop neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 50.4% 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 95.9% of the neighborhoods in America.
Modes of Transportation
In the Fulton Market / West Loop 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 21.3% of residents here. This is a higher proportion of walking commuters than we found in 98.4% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, our research revealed that more commuters here take the bus to work (13.2% ride the bus) than 96.6% 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.
Real Estate
The real estate in the Fulton Market / West Loop neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 90.0% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.2% of American neighborhoods.
In addition, the Fulton Market / West Loop 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 82.4% 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.
Diversity
Did you know that the Fulton Market / West Loop neighborhood has more Romanian and Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.5% of this neighborhood's residents have Romanian ancestry and 2.5% have Greek ancestry.
Migration / Stability
The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the Fulton Market / West Loop neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 96.8% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 Fulton Market / West Loop neighborhood in Chicago 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 98.0% 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 Fulton Market / West Loop neighborhood, 68.9% 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 21.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (6.2%), and 3.5% in manufacturing and laborer occupations.
Languages
The most common language spoken in the Fulton Market / West Loop neighborhood is English, spoken by 89.7% of households.
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 Fulton Market / West Loop neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Irish (16.0%). There are also a number of people of German ancestry (16.0%), and residents who report Polish roots (10.5%), and some of the residents are also of Asian ancestry (8.4%), along with some English ancestry residents (8.4%), among others. In addition, 11.5% of the residents of this neighborhood were born in another country.
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 Fulton Market / West Loop neighborhood spend between 15 and 30 minutes commuting one-way to work (35.3% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (25.0%) 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 (21.3%) and 13.2% of residents also ride the bus 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.
