Real Estate Prices and Overview
S Homan Ave / W Roosevelt Rd median real estate prices are $208,145, which is more expensive than 66.1% of the neighborhoods
in Illinois and 63.0% of the
neighborhoods in the U.S.
Average rental prices in S Homan Ave / W Roosevelt Rd are currently
$857, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price then 56.2% of Illinois neighborhoods.
S Homan Ave / W Roosevelt Rd is a densely urban neighborhood (based on population
density) located in Chicago, Illinois.
S Homan Ave / W Roosevelt Rd real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) small apartment buildings and apartment complexes/high-rise apartments.
Most of the residential real estate is renter occupied. Many of
the residences in the S Homan Ave / W Roosevelt Rd 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 1970 and 1999.
Vacant apartments or homes are a major fact of life in
S Homan Ave / W Roosevelt Rd. The current real estate vacancy rate here is 42.6%.
This is higher than the rate of vacancies in 97.7% 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
Single parenting is hard. But you don't have to tell the
S Homan Ave / W Roosevelt Rd neighborhood about it; they already know. 31.5%
of this neighborhood's households are run by single mothers, which is a
higher concentration than NeighborhoodScout found in 99.7%
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.
In addition, of note, 60.3% 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.
Notable & Unique: Modes of Transportation
More people ride the bus in this neighborhood each day to get to work
than 98.6% of U.S. neighborhoods.
Notable & Unique: Real Estate
Being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the S Homan Ave / W Roosevelt Rd neighborhood is one of the most walkable neighborhoods in America.
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 Homan Ave / W Roosevelt Rd 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 57.8% of the real estate here is made up of such dwellings, which is higher than 98.8% of all U.S. neighborhoods.
Furthermore, despite all of the residential real estate here in the S Homan Ave / W Roosevelt Rd 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 42.6%, which is higher than 97.7% of all U.S. neighborhoods.
Also of note, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The S Homan Ave / W Roosevelt Rd neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 68.3% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 97.4% of the neighborhoods in the United States.
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 S Homan Ave / W Roosevelt Rd neighborhood have a highly unusual car ownership.
27.9% of the households in this neighborhood don't own a car at
all. This is more carless households than NeighborhoodScout found in
96.4% of U.S. neighborhoods.
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 Homan Ave / W Roosevelt Rd 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 93.6% of U.S. neighborhoods.
With 60.3% of the children here below the federal poverty
line, this neighborhood has a higher rate of childhood poverty than 95.4%
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 S Homan Ave / W Roosevelt Rd neighborhood, 31.6%
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 31.2% of the residents employed.
Other residents here are employed in clerical, assistant, and tech support occupations
(25.6%), and 11.6% in manufacturing and laborer occupations.
The Neighbors: 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 S Homan Ave / W Roosevelt Rd neighborhood in Chicago, IL, residents
most commonly identify their ethnicity or ancestry as Sub-Saharan African
(1.6%). There are also a number of people of African ancestry (1.6%) , and residents who report Puerto Rican roots (1.6%) , and some of the residents are also of Mexican ancestry (1.1%) .
The Neighbors: Languages
The most common language spoken in the S Homan Ave / W Roosevelt Rd
neighborhood is English, spoken by 97.0% of households. Some people also speak Spanish (2.6%).
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 Homan Ave / W Roosevelt Rd neighborhood spend
between 30 and 45 minutes commuting one-way to work (38.7% of working
residents), which is at or a bit above the average length of a commute across all U.S.
Here most residents (49.5%) drive alone in a private automobile to get to work.
In addition, quite a number also ride the bus to get to work (27.6%) 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.