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Real Estate Prices & Overview

Ludlows / Shoe Factory Lofts median real estate price is $285,511, which is more expensive than 51.7% of the neighborhoods in Illinois and 37.7% of the neighborhoods in the U.S.

The average rental price in Ludlows / Shoe Factory Lofts is currently $2,360, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 71.8% of the neighborhoods in Illinois.

Ludlows / Shoe Factory Lofts is an urban neighborhood (based on population density) located in Elgin, Illinois.

Ludlows / Shoe Factory Lofts real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Ludlows / Shoe Factory Lofts 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.

In Ludlows / Shoe Factory Lofts, the current vacancy rate is 2.8%, which is a lower rate of vacancies than 81.5% of all neighborhoods in the U.S. This means that the housing supply in Ludlows / Shoe Factory Lofts is very tight compared to the demand for property here.

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 Elgin, the Ludlows / Shoe Factory Lofts neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

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 68.9% of the residential real estate in the Ludlows / Shoe Factory Lofts neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 98.4% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

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 Ludlows / Shoe Factory Lofts neighborhood in Elgin are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 64.0% of the neighborhoods in America. With 11.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 51.9% 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 Ludlows / Shoe Factory Lofts neighborhood, 37.0% 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 25.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (20.2%), and 17.5% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

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 Ludlows / Shoe Factory Lofts neighborhood is English, spoken by 58.2% of households. Other important languages spoken here include Spanish, Polish and Italian.

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 Ludlows / Shoe Factory Lofts neighborhood in Elgin, IL, residents most commonly identify their ethnicity or ancestry as Mexican (41.2%). There are also a number of people of German ancestry (19.1%), and residents who report Irish roots (11.5%), and some of the residents are also of Polish ancestry (6.2%), along with some Puerto Rican ancestry residents (4.3%), among others. In addition, 28.3% 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 Ludlows / Shoe Factory Lofts neighborhood spend between 15 and 30 minutes commuting one-way to work (39.5% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (68.5%) 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 (21.2%) . 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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