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Real Estate Prices & Overview

Foster Park median real estate price is $242,670, which is more expensive than 43.8% of the neighborhoods in Illinois and 31.3% of the neighborhoods in the U.S.

The average rental price in Foster Park is currently $1,378, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 70.6% of Illinois neighborhoods.

Foster Park is an urban neighborhood (based on population density) located in Chicago, Illinois.

Foster Park real estate is primarily made up of small (studio to two bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Foster Park neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

Real estate vacancies in Foster Park are 4.6%, which is lower than one will find in 69.6% of American neighborhoods. Demand for real estate in Foster Park is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

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 10.2% of the Foster Park neighborhood's commuters ride the train to and from work each day, which is more than we found in 95.1% of America's neighborhoods.

Diversity

Did you know that the Foster Park neighborhood has more Jamaican and African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 19.3% of this neighborhood's residents have Jamaican ancestry and 14.6% have African ancestry.

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 Foster Park neighborhood in Chicago are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 83.7% of U.S. neighborhoods. With 39.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 88.8% of U.S. neighborhoods.

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 sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Foster Park neighborhood, 30.6% of the working population is employed in clerical, assistant, and tech support occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 29.1% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (21.7%), and 18.6% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

Languages

The most common language spoken in the Foster Park neighborhood is English, spoken by 97.0% of households. Some people also speak Spanish (3.0%).

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 Foster Park neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Jamaican (19.3%). There are also a number of people of Sub-Saharan African ancestry (14.6%), and residents who report African roots (14.6%), and some of the residents are also of Mexican ancestry (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 Foster Park neighborhood spend between 45 minutes and one hour commuting one-way to work (29.6% of working residents), longer and tougher than most commutes in America.

Here most residents (43.6%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (12.8%) and 10.2% 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.


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