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Real Estate Prices & Overview

Albany Park Southwest median real estate price is $442,729, which is more expensive than 79.2% of the neighborhoods in Illinois and 63.9% of the neighborhoods in the U.S.

The average rental price in Albany Park Southwest is currently $2,211, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 70.2% of the neighborhoods in Illinois.

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

Albany Park Southwest 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 Albany Park 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 1940 and 1969.

Home and apartment vacancy rates are 7.5% in Albany Park Southwest. NeighborhoodScout analysis shows that this rate is lower than 52.7% of the neighborhoods in the nation, approximately near the middle range for vacancies.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Chicago, the Albany Park Southwest neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

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 Albany Park Southwest 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 59.4% of the real estate here is made up of such dwellings, which is higher than 99.1% of all U.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 Albany Park Southwest neighborhood is among the top 5% of American neighborhoods in terms of walkability.

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 80.1% of the residential real estate in the Albany Park Southwest neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 99.6% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Diversity

Did you know that the Albany Park Southwest neighborhood has more Arab and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.6% of this neighborhood's residents have Arab ancestry and 6.5% have South American ancestry.

Albany Park Southwest is also pretty special linguistically. Significantly, 3.6% of its residents five years old and above primarily speak Arabic at home. While this may seem like a small percentage, it is higher than 97.4% of the neighborhoods in America.

The Neighbors

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 Albany Park Southwest 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 63.0% of the neighborhoods in America. In addition, 7.7% 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 57.2% of America'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 Albany Park Southwest neighborhood, 32.0% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 25.6% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (22.6%), and 18.6% 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 Albany Park Southwest neighborhood is English, spoken by 58.9% of households. Other important languages spoken here include Spanish, Arabic, Tagalog (the first language of the Philippine region) 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 Albany Park Southwest neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Mexican (22.4%). There are also a number of people of Asian ancestry (11.7%), and residents who report German roots (9.2%), and some of the residents are also of Polish ancestry (8.6%), along with some Irish ancestry residents (7.1%), among others. In addition, 34.2% 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 Albany Park Southwest neighborhood spend between 30 and 45 minutes commuting one-way to work (34.6% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (58.5%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (8.5%) and 8.3% 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.


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