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 87.4% 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 61.6%
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
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
Notable & Unique: People
The S Halsted St / W 56th St neighborhood has a greater percentage
of children living in poverty (77.2%) than found in
98.9% of all U.S. neighborhoods. Children living in poverty
is one of the challenges facing America, and the world, and in this
neighborhood in particular, the problem can be considered acute.
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, neighborhoodScout's exclusive research revealed that 95.9%
of the adult residents in the S Halsted St / W 56th St neighborhood do
not have a 4-year college degree, which is a lower rate of college graduated
adults than found in 96.7% of the neighborhoods in America.
Notable & Unique: Modes of Transportation
Our research revealed that more commuters here take the bus to work
(19.8% ride the bus) than 96.8% 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: Occupations
There are more people living in the S Halsted St / W 56th St neighborhood
employed as sales and service workers (56.1%) than almost any neighborhood
in the country. From fast-food service workers to major sales accounts,
sales and service workers make up the largest proportion of our national
employment picture. But despite that size and importance nationally, this
neighborhood still stands out as unique due to the dominance of people
living here who work in such occupations.
Notable & Unique: Real Estate
In addition, three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The S Halsted St / W 56th St neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 65.2% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 99.4% of America's neighborhoods.
Furthermore, despite all of the residential real estate here in the S Halsted St / W 56th St neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 36.3%, which is higher than 96.5% of all U.S. neighborhoods.
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 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
What we choose to do for a living reflects who we are. Each neighborhood has
a different mix of occupations represented, and together these tell you about
the neighborhood and help you understand if this neighborhood may fit your lifestyle.
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
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 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.