S Indiana Ave / E 47th St median real estate price is $476,511, which is more expensive than 79.4% of the neighborhoods in Illinois and 63.1% of the neighborhoods in the U.S.
The average rental price in S Indiana Ave / E 47th St is currently $1,592, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 65.4% of Illinois neighborhoods.
S Indiana Ave / E 47th St is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
S Indiana Ave / E 47th St 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 occupied by a mixture of owners and renters. Many of the residences in the S Indiana Ave / E 47th 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.
In S Indiana Ave / E 47th St, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in S Indiana Ave / E 47th St is very tight compared to the demand for property here.
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.
With a real estate vacancy rate of only 0.0%, the S Indiana Ave / E 47th St neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.
In addition, 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 Indiana Ave / E 47th St neighborhood is one of the most walkable neighborhoods in America.
Furthermore, one of the really unique and interesting things about the look and setting of the S Indiana Ave / E 47th St neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 70.1% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 95.0% of all neighborhoods in America.
Also of note, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 56.5% of the residential real estate in the S Indiana Ave / E 47th St neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 95.7% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
The S Indiana Ave / E 47th St neighborhood stands out for having an average per capita income lower than 98.6% of the neighborhoods in the United States. Also of note, 62.6% 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.
In addition, astoundingly, the S Indiana Ave / E 47th St neighborhood has one of the highest concentrations of divorcees living here than of any neighborhood, a higher concentration than NeighborhoodScout found in 98.5% of U.S. neighborhoods. This may be because people living here divorce more often than others, or that divorced people move here after they become divorced. If you are divorced, you will be in good company in this particular Chicago neighborhood.
If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 33.0% of the S Indiana Ave / E 47th St neighborhood's commuters ride the train to and from work each day, which is more than we found in 98.5% of America's neighborhoods.
Also, more people ride the bus in this neighborhood each day to get to work than 96.9% of U.S. neighborhoods.
We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the S Indiana Ave / E 47th St neighborhood has a highly unusual pattern of car ownership. 34.0% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.6% of U.S. neighborhoods.
Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the S Indiana Ave / E 47th St neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 12.3% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 97.5% of all neighborhoods in America.
There are more people living in the S Indiana Ave / E 47th St neighborhood employed as sales and service workers (61.1%) 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.
Did you know that the S Indiana Ave / E 47th St neighborhood has more African and Sub-Saharan African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 14.6% of this neighborhood's residents have African ancestry and 19.0% have Sub-Saharan African ancestry.
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. More residents of the S Indiana Ave / E 47th St neighborhood live here today that also were living in this same neighborhood five years ago than is found in 97.6% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while.
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 Indiana Ave / E 47th 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 98.6% of U.S. neighborhoods. With 62.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 97.5% of U.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 S Indiana Ave / E 47th St neighborhood, 38.9% 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 34.5% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (14.3%), and 12.3% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the S Indiana Ave / E 47th St neighborhood is English, spoken by 97.5% of households.
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 Indiana Ave / E 47th St neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (19.0%). There are also a number of people of African ancestry (14.6%), and residents who report Jamaican roots (3.6%), and some of the residents are also of German ancestry (1.3%), along with some Mexican ancestry residents (1.2%), among others.
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 Indiana Ave / E 47th St neighborhood spend between 15 and 30 minutes commuting one-way to work (49.3% of working residents), which is shorter than the time spent commuting to work for most Americans. However, there is also a significant group of residents (12.3%) who commute over an hour in each direction.
Here most residents (36.9%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (33.0%) and 13.3% 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.
