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Real Estate Prices & Overview

Downtown Southwest median real estate price is $381,809, which is more expensive than 72.6% of the neighborhoods in Illinois and 55.5% of the neighborhoods in the U.S.

The average rental price in Downtown Southwest is currently $3,091, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 89.5% of the neighborhoods in Illinois.

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

Downtown Southwest real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four 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 Downtown Southwest 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 2000 and the present.

Home and apartment vacancy rates are 8.8% in Downtown Southwest. NeighborhoodScout analysis shows that this rate is lower than 44.1% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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 get around.

Real Estate

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 Downtown Southwest 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, 56.9% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 99.0% of America's neighborhoods.

In addition, 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 Downtown Southwest neighborhood is among the top 5% of American neighborhoods in terms of walkability.

Furthermore, 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 Downtown Southwest neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 56.3% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 95.5% of the neighborhoods in the United States.

Modes of Transportation

If your dream is to be able to ride your bike to work each day, look no further than this unique neighborhood. With 5.8% of residents in the Downtown Southwest neighborhood commuting on a bicycle to and from work daily, this neighborhood has more bicycle commuters than 98.7% of all neighborhoods in the U.S., according to NeighborhoodScout's exclusive analysis.

People

If you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Downtown Southwest neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 97.8% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Downtown Southwest neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for young, single professionals.

Diversity

Did you know that the Downtown Southwest neighborhood has more Czechoslovakian and Polish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 0.7% of this neighborhood's residents have Czechoslovakian ancestry and 9.7% have Polish ancestry.

Downtown Southwest is also pretty special linguistically. Significantly, 1.4% of its residents five years old and above primarily speak Native American languages at home. While this may seem like a small percentage, it is higher than 98.4% of the neighborhoods in America.

The Neighbors

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 Downtown Southwest neighborhood in Chicago are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 90.2% of the neighborhoods in America. In addition, 7.1% 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 58.2% of America'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 Downtown Southwest neighborhood, 60.1% 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 20.4% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (12.0%), and 7.6% in clerical, assistant, and tech support occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Downtown Southwest neighborhood is English, spoken by 63.5% of households. Other important languages spoken here include Spanish and Chinese.

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 Downtown Southwest neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Mexican (35.9%). There are also a number of people of Asian ancestry (14.9%), and residents who report Polish roots (9.7%), and some of the residents are also of German ancestry (6.3%), along with some English ancestry residents (6.0%), among others. In addition, 17.1% 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 Downtown Southwest neighborhood spend between 15 and 30 minutes commuting one-way to work (44.4% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (47.1%) 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 (11.7%) and 8.4% of residents also ride the bus 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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