Real Estate Prices and Overview
E 51st St / S Michigan Ave median real estate prices are $151,770, which is more expensive than 45.5% of the neighborhoods
in Illinois and 46.5% of the
neighborhoods in the U.S.
Average rental prices in E 51st St / S Michigan Ave are currently
$762, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price then 67.4% 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
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 E 51st St / S Michigan Ave neighborhood, has some outstanding things about the way it
looks and its way of life that are worth highlighting.
Notable & Unique: Modes of Transportation
More people ride the bus in this neighborhood each day to get to work
than 99.6% of U.S. neighborhoods.
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
Most American households own a car or other vehicle. Many own two cars
or perhaps three. In the United States, it is useful to have an automobile
not only for commuting, but also for shopping and getting to other services
one needs. But NeighborhoodScout's analysis revealed that households in
the E 51st St / S Michigan Ave neighborhood have a highly unusual 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
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 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
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 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
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 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.