Real Estate Prices and Overview
E 51st St / S Michigan Ave median real estate prices are $151,770, which is more expensive than 45.8% of the neighborhoods
in Illinois and 46.6% of the
neighborhoods in the U.S.
Average rental prices in E 51st St / S Michigan Ave are currently
$654, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price then 64.3% of Illinois neighborhoods.
E 51st St / S Michigan Ave is an urban neighborhood (based on population
density) located in Chicago, Illinois.
E 51st St / S Michigan 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 51st St / S Michigan Ave neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.
Vacant apartments or homes are a major fact of life in
E 51st St / S Michigan Ave. The current real estate vacancy rate here is 30.3%.
This is higher than the rate of vacancies in 94.2% of
all U.S. neighborhoods. This can sometimes be the case in neighborhoods
dominated by seasonal homes (such as vacation areas), and occasionally
it is also found in neighborhoods that are primarily filled with college
students, as some apartments could be vacant when school is not in session.
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
When you see a neighborhood for the first time, the most important thing
is often the way it looks, like its homes and its setting. Some places look
the same, but they only reveal their true character after living in them for
a while because they contain a unique mix of occupational or cultural groups.
This neighborhood is very unique in some important ways, according to
NeighborhoodScout's exclusive exploration and analysis.
Notable & Unique: Modes of Transportation
Our research revealed that more commuters here take the bus to work
(39.5% ride the bus) than 99.6% 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
Notable & Unique: People
Single parenting is hard. But you don't have to tell the
E 51st St / S Michigan Ave neighborhood about it; they already know. 25.8%
of this neighborhood's households are run by single mothers, which is a
higher concentration than NeighborhoodScout found in 99.2%
of American neighborhoods. Further NeighborhoodScout research showed strong
statistical correlations among high rates of children living in single
parent households, and neighborhood crime, particularly violent crime,
neighborhood poverty, and, importantly, the percentage of low weight births
and rates of infant mortality.
Notable & Unique: Car Ownership
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 51st St / S Michigan Ave neighborhood has
a highly unusual pattern of car ownership.
34.5% 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.
Notable & Unique: Length of Commute
Whether walking, biking, riding, or driving, the length of one's commute
is an important factor for one's quality of life. The E 51st St / S Michigan Ave
neighborhood stands out for its commute length, according to NeighborhoodScout's
Long commutes can be brutal. They take time, money, and energy, leaving less
of you for yourself and your family. The residents of the
E 51st St / S Michigan Ave neighborhood unfortunately have the distinction of having,
on average, a longer commute than most any neighborhood in America.
9.3% of commuters here travel more than one hour just one-way
to work. That is more than two hours per day. This percentage with two-hour +
round-trip commutes is higher than NeighborhoodScout found in 96.7%
of all neighborhoods in America.
The Neighbors: Income
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 51st St / S Michigan 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 86.8% of U.S. neighborhoods.
With 40.2% of the children here below the federal poverty
line, this neighborhood has a higher rate of childhood poverty than 84.0%
of U.S. neighborhoods.
The Neighbors: Occupations
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 shear diversity of neighborhoods, allowing you to find the type that fits
your lifestyle and aspirations.
In the E 51st St / S Michigan Ave neighborhood, 31.8%
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 28.6% of the residents employed.
Other residents here are employed in clerical, assistant, and tech support occupations
(27.7%), and 11.9% in manufacturing and laborer occupations.
The Neighbors: 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 E 51st St / S Michigan Ave neighborhood in Chicago, IL, residents
most commonly identify their ethnicity or ancestry as Puerto Rican
The Neighbors: Languages
The most common language spoken in the E 51st St / S Michigan Ave
neighborhood is English, spoken by 97.1% of households. Some people also speak Spanish (2.9%).
Getting to Work
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 51st St / S Michigan Ave neighborhood spend
between 45 minutes and one hour commuting one-way to work (39.0% of working
residents), longer and tougher than most commutes in America.
Here most residents (39.7%) drive alone in a private automobile to get to work.
In addition, quite a number also ride the bus to get to work (39.5%) and 10.0% 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.