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 Exchange Ave / E 76th St median real estate price is $286,013, which is more expensive than 54.4% of the neighborhoods in Illinois and 39.8% of the neighborhoods in the U.S.
The average rental price in S Exchange Ave / E 76th St is currently $1,731, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 55.8% of Illinois neighborhoods.
S Exchange Ave / E 76th St is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
S Exchange Ave / E 76th 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 renter occupied. Many of the residences in the S Exchange Ave / E 76th 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.
Vacant apartments or homes are a major fact of life in S Exchange Ave / E 76th St. The current real estate vacancy rate here is 24.3%. This is higher than the rate of vacancies in 91.3% 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
One of the unique characteristics of the S Exchange Ave / E 76th St neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 95.8% of the neighborhoods in America. Also of note, 85.9% 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: 51.3%. This is a higher percent living alone than we found in 96.3% 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
Our research revealed that more commuters here take the bus to work (19.6% ride the bus) than 98.5% 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.
Real Estate
If you like crowded places, then you will probably enjoy the the S Exchange Ave / E 76th St neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.2% of neighborhoods in the U.S., with 25,763 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 S Exchange Ave / E 76th St neighborhood is one of the most walkable neighborhoods in America.
In addition, renter-occupied real estate is dominant in the S Exchange Ave / E 76th St neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 90.8%, which is higher than 97.0% 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.
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 61.3% of the residential real estate in the S Exchange Ave / E 76th St neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 96.8% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the S Exchange Ave / E 76th St neighborhood buck this trend. 30.7% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.2% of U.S. neighborhoods.
Diversity
Did you know that the S Exchange Ave / E 76th 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, 30.6% of this neighborhood's residents have Sub-Saharan African ancestry and 6.8% have Jamaican ancestry.
S Exchange Ave / E 76th St is also pretty special linguistically. Significantly, 2.2% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 95.6% of the neighborhoods in America.
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 Exchange Ave / E 76th 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 95.8% of U.S. neighborhoods. With 85.9% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 99.6% 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 S Exchange Ave / E 76th St neighborhood, 30.7% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 29.3% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (27.2%), and 12.8% in manufacturing and laborer 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 S Exchange Ave / E 76th St neighborhood is English, spoken by 85.5% of households. Other important languages spoken here include Spanish and African languages.
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 Exchange Ave / E 76th St neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (30.6%). There are also a number of people of Mexican ancestry (13.1%), and residents who report Jamaican roots (6.8%).
Getting to Work
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 S Exchange Ave / E 76th St neighborhood spend between 45 minutes and one hour commuting one-way to work (32.6% of working residents), longer and tougher than most commutes in America.
Here most residents (56.4%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (19.6%) and 10.3% of residents also carpool with coworkers, friends, or neighbors 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.
