Real Estate Prices and Overview
S Halsted St / W 56th St median real estate prices are $77,324, which is less expensive than 87.9% of Illinois neighborhoods
and 87.3% of all U.S. neighborhoods.
Average rental prices in S Halsted St / W 56th St are currently
$976, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 61.8%
of the neighborhoods in Illinois.
S Halsted St / W 56th St is an urban neighborhood (based on population
density) located in Chicago, Illinois.
S Halsted St / W 56th St real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) small apartment buildings and single-family homes.
Most of the residential real estate is renter occupied. Many of
the residences in the S Halsted St / W 56th St 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.
Vacant apartments or homes are a major fact of life in
S Halsted St / W 56th St. The current real estate vacancy rate here is 36.3%.
This is higher than the rate of vacancies in 96.5% 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: People
Of note, 77.2% of the children in this area
live in poverty; an extraordinarily high percentage compared to other
neighborhoods in the nation. In a nation where approximately one in
four children grows up in poverty, this neighborhood stands out for
the depth of the problem manifested here.
In addition, whether by choice, divorce, or unplanned pregnancy, single moms may have
the toughest job in the book. NeighborhoodScout's exclusive analysis reveals
that the S Halsted St / W 56th St neighborhood has more single mother
households than 98.1% of the neighborhoods in the U.S.
Often high concentrations of single mother homes can be a strong indicator
of family and social issues such as poverty, high rates of school dropouts,
crime, and other societal problems.
Also, the S Halsted St / W 56th St neighborhood is unique for having just
4.1% of adults here having earned a bachelor's degree.
This is a lower rate of college graduates than NeighborhoodScout found
in 96.7% of America's neighborhoods.
Notable & Unique: Modes of Transportation
More people ride the bus in this neighborhood each day to get to work
than 96.8% of U.S. neighborhoods.
Notable & Unique: Occupations
From major sales accounts to fast-food workers, sales and service employees
are often the backbone of the local economy. In the S Halsted St / W 56th St
neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis
identifies this neighborhood as having a higher percentage of sales and
service workers than 96.5% of all American neighborhoods.
Notable & Unique: Real Estate
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 S Halsted St / W 56th St 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 65.2% of the real estate here is made up of such dwellings, which is higher than 99.4% of all U.S. neighborhoods.
Furthermore, vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 36.3% of the residential real estate vacant, the S Halsted St / W 56th St neighborhood claims the distinction of having a higher vacancy rate than 96.5% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.
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 S Halsted St / W 56th St 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 93.2% of U.S. neighborhoods.
With 77.2% of the children here below the federal poverty
line, this neighborhood has a higher rate of childhood poverty than 98.9%
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 S Halsted St / W 56th St neighborhood, 43.9%
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 26.0% of the residents employed.
Other residents here are employed in clerical, assistant, and tech support occupations
(20.4%), and 9.7% in manufacturing and laborer occupations.
The Neighbors: Ethnicity / Ancestry
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities
and ancestries have different cultural traditions, and as a result, neighborhoods
with concentrations of residents of one or another ethnicities or ancestries
will express those cultures. It is what makes the North End in Boston so fun
to visit for the Italian restaurants, bakeries, culture, and charm, and similarly,
why people enjoy visiting Chinatown in San Francisco.
In the S Halsted St / W 56th St 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 S Halsted St / W 56th St
neighborhood is English, spoken by 99.5% of households.
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 S Halsted St / W 56th St neighborhood spend
between 45 minutes and one hour commuting one-way to work (36.7% of working
residents), longer and tougher than most commutes in America.
Here most residents (63.5%) drive alone in a private automobile to get to work.
In addition, quite a number also ride the bus to get to work (19.8%) and 8.7% 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.