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Real Estate Prices & Overview

Hermosa median real estate price is $367,362, which is more expensive than 69.4% of the neighborhoods in Illinois and 52.9% of the neighborhoods in the U.S.

The average rental price in Hermosa is currently $1,907, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 46.6% of Illinois neighborhoods.

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

Hermosa real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Hermosa 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 6.7% in Hermosa. NeighborhoodScout analysis shows that this rate is lower than 55.4% 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.

Real Estate

Corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the Hermosa neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 60.9% of the real estate here is made up of such dwellings, which is higher than 99.3% of all U.S. neighborhoods.

In addition, if you like crowded places, then you will probably enjoy the the Hermosa neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 95.9% of neighborhoods in the U.S., with 24,066 people per square mile living here. 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 Hermosa neighborhood is one of the most walkable neighborhoods in America.

Furthermore, 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 82.0% of the residential real estate in the Hermosa neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 99.7% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Diversity

Did you know that the Hermosa neighborhood has more Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 19.5% of this neighborhood's residents have Puerto Rican ancestry.

Hermosa is also pretty special linguistically. Significantly, 67.9% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 97.1% of all U.S. neighborhoods.

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 Hermosa neighborhood in Chicago are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 47.4% of the neighborhoods in America. With 32.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 83.7% 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 Hermosa neighborhood, 33.4% of the working population is employed in manufacturing and laborer 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 29.3% of the residents employed. Other residents here are employed in executive, management, and professional occupations (23.1%), and 14.1% 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 Hermosa neighborhood is Spanish, spoken by 67.9% of households. Other important languages spoken here include English and Italian.

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 Hermosa neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Mexican (53.0%). There are also a number of people of Puerto Rican ancestry (19.5%), and residents who report Italian roots (4.8%), and some of the residents are also of Irish ancestry (3.9%), along with some South American ancestry residents (1.8%), among others. In addition, 28.8% 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 Hermosa neighborhood spend between 30 and 45 minutes commuting one-way to work (37.1% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (60.3%) 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 (11.1%) and 8.6% 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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