What do we mean by a neighborhood?
NeighborhoodScout® uses the official government designation for neighborhoods - the census tract.
Census tracts are small, relatively permanent subdivisions of a county that are defined by the U.S. Census Bureau in conjunction with local authorities all across the country to define real neighborhoods that are bounded to contain areas with homogeneous population characteristics (including economic status, lifestyle, and living conditions). Census tracts usually have 4,000 persons, but can range between 1,500 and 8,000 persons. This is the most fine-grained area for which detailed information is made available from the government, to protect the individual privacy of each of us. Because census tracts are based on population, they vary in size depending on the density of settlement. In urban areas, they are small, and in rural areas they can cover an entire small town or even a few small towns in very rural areas.
Since census tracts are subdivisions of a county, we did a spatial overlay of the census tracts onto city and town boundaries using a geographic information system to properly assign each census tract to its appropriate city or town. Then we named each census tract to the local colloquially recognized neighborhood name for that spot (e.g., Boston, MA (Dorchester). If there was not a name available, we named the census tract by the largest street intersection in the census tract (e.g., Worcester, MA (Lincoln St/Plantation St)
Why we don't use Zip Codes as neighborhoods
Zip codes were developed by the Postal Service for the purpose of delivering mail, but were never intended to define coherent neighborhoods. In addition, Zip Codes can have as many as 10 distinctly different census tracts contained within them. When distinct census tracts are blended together in a single Zip Code, the data reflects their average conditions and often gives a false sense of the area. The result is that potentially great matching neighborhoods can be missed, and erroneous matches can also be produced and delivered to you.
Using census tracts makes great matches possible, and helps people find the areas that are best for them and their families. Because we are committed to providing the highest possible quality and finding the neighborhoods that best meet your criteria, we use census tracts. And, as always, we show you the actual street map of the neighborhood so you know exactly where your best matching neighborhood is located.
What is a Condition Alert?
A condition alert is a condition in the neighborhood that triggers an alert. NeighborhoodScout contains condition alerts to highlight conditions that are extreme, whether good or bad. This helps answer crucial questions about the state of the neighborhood being evaluated, such as:
What are the risks of violent crime here?
Is the risk of home break-ins or other property crimes increasing?
Does real estate here hold its value?
Are the trends in local vacancies or unemployment concerning?
...and dozens more.
Information at a glance that you need to know to invest, appraise or finance a property.
S Indiana Ave / E 47th St median real estate price is $418,712, which is more expensive than 77.9% of the neighborhoods in Illinois and 60.3% of the neighborhoods in the U.S.
The average rental price in S Indiana Ave / E 47th St is currently $1,474, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 67.1% 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.
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
Renter-occupied real estate is dominant in the S Indiana Ave / E 47th St neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 85.3%, which is higher than 95.4% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so. This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the S Indiana Ave / E 47th St neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.
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 S Indiana Ave / E 47th St neighborhood is among the top 5% of American neighborhoods in terms of walkability.
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. 72.0% 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 95.4% 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 60.0% 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 96.5% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
People
One of the unique characteristics of the S Indiana Ave / E 47th St neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 98.8% of the neighborhoods in America. Also of note, 71.2% 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, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 59.2%. This is a higher percent living alone than we found in 98.7% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.
Modes of Transportation
If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 24.2% 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 97.6% of America's neighborhoods.
Also, our research revealed that more commuters here take the bus to work (15.7% ride the bus) than 97.5% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the S Indiana Ave / E 47th St neighborhood buck this trend. 34.3% 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.
Diversity
Did you know that the S Indiana Ave / E 47th St neighborhood has more Sub-Saharan African and Jamaican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 23.6% of this neighborhood's residents have Sub-Saharan African ancestry and 10.9% have Jamaican ancestry.
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 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 98.8% of U.S. neighborhoods. With 71.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 98.6% of U.S. neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the S Indiana Ave / E 47th St neighborhood, 35.4% 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 manufacturing and laborer occupations, with 23.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (22.7%), and 18.7% in executive, management, and professional occupations.
Languages
The most common language spoken in the S Indiana Ave / E 47th St neighborhood is English, spoken by 98.1% 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 (23.6%). There are also a number of people of African ancestry (12.7%), and residents who report Jamaican roots (10.9%), and some of the residents are also of German ancestry (1.2%).
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 S Indiana Ave / E 47th St neighborhood spend between 15 and 30 minutes commuting one-way to work (44.9% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (45.5%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (24.2%) and 15.7% 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.
SCOUT’s patented match algorithm identifies the most similar neighborhoods to a subject location, and quantifies the similarity to the subject location. This allows analysts to identify the most similar neighborhoods in a local market area for appraisals, investments, and research.
The algorithm uses 273 neighborhood conditions, identifies the dominant dimensions underlying the conditions and calculates the similarity. This captures the true culture and character of locations, economic conditions, and trends.
The closer to 100% means the locations are nearly identical. 80% is a very good, but not excellent match, and so forth.
