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Real Estate Prices & Overview

E 70th St / S Michigan Ave median real estate price is $292,563, which is more expensive than 56.2% of the neighborhoods in Illinois and 42.0% of the neighborhoods in the U.S.

The average rental price in E 70th St / S Michigan Ave is currently $1,571, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 62.8% of Illinois neighborhoods.

E 70th St / S Michigan Ave is a densely urban neighborhood (based on population density) located in Chicago, Illinois.

E 70th St / S Michigan Ave real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the E 70th St / S Michigan Ave 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.

Vacant apartments or homes are a major fact of life in E 70th St / S Michigan Ave. The current real estate vacancy rate here is 27.1%. This is higher than the rate of vacancies in 92.7% 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.

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.

People

The first thing that you'll notice if you moved to this neighborhood is that an astounding 4.1% of the households are same sex couples. According to NeighborhoodScout's analysis, this is a higher proportion of same sex households than in 99.7% of the neighborhoods in America. This is one indicator that this neighborhood is likely a gay-friendly neighborhood. So if you are looking for such a neighborhood, the E 70th St / S Michigan Ave neighborhood should definitely be on your list of places to consider.

In addition, the E 70th St / S Michigan Ave neighborhood stands out for having an average per capita income lower than 98.2% of the neighborhoods in the United States.

Modes of Transportation

More people ride the bus in this neighborhood each day to get to work than 99.7% of U.S. neighborhoods.

Also, in the E 70th St / S Michigan Ave neighborhood, 18.8% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 96.8% of the neighborhoods in America.

Car Ownership

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 E 70th St / S Michigan Ave neighborhood has a highly unusual pattern of car ownership. 31.9% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.4% of U.S. neighborhoods.

Real Estate

Three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The E 70th St / S Michigan Ave neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 40.3% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 97.0% of America'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 E 70th St / S Michigan Ave neighborhood is among the top 5% of American neighborhoods in terms of walkability.

Furthermore, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The E 70th St / S Michigan Ave neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 58.8% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 96.0% of the neighborhoods in the United States.

Occupations

From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the E 70th St / S Michigan Ave neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 96.1% of all American neighborhoods.

Diversity

Did you know that the E 70th St / S Michigan Ave neighborhood has more African and Sub-Saharan African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 22.3% of this neighborhood's residents have African ancestry and 22.3% have Sub-Saharan African ancestry.

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 E 70th St / S Michigan Ave 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 98.2% of U.S. neighborhoods. With 43.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 90.5% 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 E 70th St / S Michigan Ave neighborhood, 40.1% 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 29.7% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (21.5%), and 8.8% in manufacturing and laborer occupations.

Languages

The most common language spoken in the E 70th St / S Michigan Ave neighborhood is English, spoken by 96.9% 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 E 70th St / S Michigan Ave neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (22.3%). There are also a number of people of African ancestry (22.3%).

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 E 70th St / S Michigan Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (47.7% of working residents), longer and tougher than most commutes in America.

Here most residents (32.4%) ride the bus to get to work. In addition, quite a number also drive alone in a private automobile to get to work (25.4%) and 18.8% of residents also take the train for their daily commute. The bus provides a valuable service in the E 70th St / S Michigan Ave neighborhood of Chicago by getting a lot of residents to and from work daily, reducing the costs of commuting and reducing some congestion on the roads as well.


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