Lakeview East median real estate price is $365,562, which is more expensive than 69.9% of the neighborhoods in Illinois and 53.1% of the neighborhoods in the U.S.
The average rental price in Lakeview East is currently $3,621, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 95.8% of the neighborhoods in Illinois.
Lakeview East is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
Lakeview East 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 single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Lakeview East neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
Vacant apartments or homes are a major fact of life in Lakeview East. The current real estate vacancy rate here is 16.9%. This is higher than the rate of vacancies in 81.9% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.
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.
People
One of the most interesting things about the Lakeview East neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 70.0% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 99.7% of the neighborhoods in America.
In addition, if you are planning to retire in Illinois, this neighborhood should be on your must-see list. For many reasons, Lakeview East may be considered a retiree's dream neighborhood. According to NeighborhoodScout's exclusive analysis and metrics, it's peaceful and quiet, has above average safety from crime compared to other neighborhoods in Illinois, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood more retiree-friendly than 99.7% of neighborhoods in IL. If a Illinois retirement is in your future, this neighborhood should be one of the places you visit. In addition to being an excellent choice for active retirees, this neighborhood is also a very good choice for urban sophisticates and first-time home buyers.
Also, some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 52.1% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 99.4% of U.S. neighborhoods, where the average American neighborhood has 13.4% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.
Real Estate
One of the really unique and interesting things about the look and setting of the Lakeview East neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 97.6% 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 99.5% of all neighborhoods in America.
In addition, the Lakeview East neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 94.0% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
Modes of Transportation
A unique way of commuting is simply not to. And in the Lakeview East neighborhood, analysis shows that 39.1% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 99.4% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
Also, more people ride the bus in this neighborhood each day to get to work than 96.8% of U.S. neighborhoods.
Occupations
Executives, managers and professionals make up 73.9% of the workforce in the Lakeview East neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 97.3% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Car Ownership
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Lakeview East neighborhood have a highly unusual car ownership. 25.0% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 96.4% of U.S. neighborhoods.
Diversity
Did you know that the Lakeview East neighborhood has more Austrian and Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.6% of this neighborhood's residents have Austrian ancestry and 2.2% have Armenian ancestry.
Lakeview East is also pretty special linguistically. Significantly, 0.8% of its residents five years old and above primarily speak Urdu, which is the national language of Pakistan, at home. While this may seem like a small percentage, it is higher than 96.7% of the neighborhoods in America.
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 Lakeview East neighborhood in Chicago are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 77.5% of the neighborhoods in America. With 10.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 50.5% 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 Lakeview East neighborhood, 73.9% 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 19.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (5.2%), and 4.2% in government jobs, whether they are in local, state, or federal positions.
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 Lakeview East neighborhood is English, spoken by 81.8% of households. Other important languages spoken here include Chinese and Langs. of India.
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 Lakeview East neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Asian (17.6%). There are also a number of people of German ancestry (15.9%), and residents who report Irish roots (11.4%), and some of the residents are also of Polish ancestry (9.8%), along with some English ancestry residents (8.7%), among others. In addition, 18.1% of the residents of this neighborhood were born in another country.
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 Lakeview East neighborhood spend between 15 and 30 minutes commuting one-way to work (34.0% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (31.7%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (13.7%) and 6.0% of residents also hop out the door and walk to work 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.
