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Real Estate Prices & Overview

Morgan Park North median real estate price is $242,620, which is more expensive than 38.9% of the neighborhoods in Illinois and 29.0% of the neighborhoods in the U.S.

The average rental price in Morgan Park North is currently $2,662, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 77.2% of the neighborhoods in Illinois.

Morgan Park North is an urban neighborhood (based on population density) located in Chicago, Illinois.

Morgan Park North real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the Morgan Park North 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.

Real estate vacancies in Morgan Park North are 4.8%, which is lower than one will find in 68.1% of American neighborhoods. Demand for real estate in Morgan Park North 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.

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

Real Estate

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 55.6% of the residential real estate in the Morgan Park North neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 95.3% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Diversity

Significantly, 1.4% of its residents five years old and above primarily speak Greek at home. While this may seem like a small percentage, it is higher than 98.1% of the neighborhoods in America.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Morgan Park North neighborhood in Chicago are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 53.9% of the neighborhoods in America. In addition, 6.6% 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 59.7% of America'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 Morgan Park North neighborhood, 35.1% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 27.4% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (27.3%), and 10.3% 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 Morgan Park North neighborhood is English, spoken by 91.0% of households. Other important languages spoken here include Polish, Italian and Spanish.

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 Morgan Park North neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Irish (12.9%). There are also a number of people of Polish ancestry (6.2%), and residents who report Sub-Saharan African roots (5.8%), and some of the residents are also of German ancestry (5.3%), along with some Asian ancestry residents (4.1%), among others.

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 Morgan Park North neighborhood spend between 15 and 30 minutes commuting one-way to work (37.0% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (69.3%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (11.0%) and 9.4% 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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