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Real Estate Prices & Overview

Ravenswood median real estate price is $487,066, which is more expensive than 78.1% of the neighborhoods in Illinois and 62.9% of the neighborhoods in the U.S.

The average rental price in Ravenswood is currently $2,849, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 81.2% of the neighborhoods in Illinois.

Ravenswood is a densely urban neighborhood (based on population density) located in Chicago, Illinois.

Ravenswood real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four 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 Ravenswood 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.

Home and apartment vacancy rates are 7.8% in Ravenswood. NeighborhoodScout analysis shows that this rate is lower than 49.1% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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.

Modes of Transportation

If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 26.7% of the Ravenswood neighborhood's commuters ride the train to and from work each day, which is more than we found in 97.9% of America's neighborhoods.

People

Do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 77.2% of the adults living in the Ravenswood neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 96.9% of U.S. neighborhoods. In this way, this neighborhood truly stands out.

Real Estate

If you like crowded places, then you will probably enjoy the the Ravenswood neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 95.0% of neighborhoods in the U.S., with 20,399 people per square mile living here. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The Ravenswood neighborhood is among the top 5% of American neighborhoods in terms of walkability.

Diversity

Did you know that the Ravenswood neighborhood has more Irish and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 24.3% of this neighborhood's residents have Irish ancestry and 1.7% have Eastern European ancestry.

Ravenswood is also pretty special linguistically. Significantly, 0.9% of its residents five years old and above primarily speak Urdu, which is the national language of Pakistan, at home. While this may seem like a small percentage, it is higher than 97.0% of the neighborhoods in America.

The Neighbors

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 Ravenswood neighborhood in Chicago are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 72.0% of the neighborhoods in America. In addition, 9.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 53.3% of America's neighborhoods.

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 Ravenswood neighborhood, 66.7% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 19.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (11.0%), and 2.3% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Ravenswood neighborhood is English, spoken by 79.6% of households. Some people also speak Spanish (12.9%).

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 Ravenswood neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Irish (24.3%). There are also a number of people of German ancestry (20.1%), and residents who report Italian roots (12.8%), and some of the residents are also of English ancestry (9.1%), along with some Polish ancestry residents (8.3%), among others. In addition, 13.7% of the residents of this neighborhood were born in another country.

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 Ravenswood neighborhood spend between 30 and 45 minutes commuting one-way to work (34.1% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (36.8%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (26.7%) and 7.8% 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.


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