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Real Estate Prices & Overview

Franklin Corners / Malvern median real estate price is $238,727, which is more expensive than 43.3% of the neighborhoods in Illinois and 30.8% of the neighborhoods in the U.S.

The average rental price in Franklin Corners / Malvern is currently $1,374, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 70.8% of Illinois neighborhoods.

Franklin Corners / Malvern is a remote neighborhood (based on population density) located in Morrison, Illinois.

Franklin Corners / Malvern real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Franklin Corners / Malvern neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Home and apartment vacancy rates are 7.4% in Franklin Corners / Malvern. NeighborhoodScout analysis shows that this rate is lower than 51.7% 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 Morrison, the Franklin Corners / Malvern neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

If you are planning to retire in Illinois, this neighborhood should be on your must-see list. For many reasons, Franklin Corners / Malvern 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 98.3% 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 families with school-aged children.

In addition, of particular note, 2.7% of the people in the Franklin Corners / Malvern neighborhood currently reside in a correction facility, held due to punishment for a crime.

Real Estate

This neighborhood has wide open spaces, few people, and lots of space to stretch out. If you like locations that fit that description, you may like this neighborhood. Based on NeighborhoodScout's exclusive analysis, with only 41 people per square mile living here, this neighborhood is less crowded than 90.8% of America.

Diversity

Did you know that the Franklin Corners / Malvern neighborhood has more Dutch and Eastern European ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 16.2% of this neighborhood's residents have Dutch ancestry and 2.7% have Eastern European ancestry.

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 Franklin Corners / Malvern neighborhood in Morrison are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 69.2% of the neighborhoods in America. In addition, 1.4% 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 77.3% of America's neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Franklin Corners / Malvern neighborhood, 45.2% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 19.6% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (19.2%), and 14.9% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Franklin Corners / Malvern neighborhood is English, spoken by 94.0% of households. Some people also speak Italian (5.3%).

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 Franklin Corners / Malvern neighborhood in Morrison, IL, residents most commonly identify their ethnicity or ancestry as German (28.9%). There are also a number of people of Dutch ancestry (16.2%), and residents who report English roots (9.1%), and some of the residents are also of French ancestry (8.5%), along with some Irish ancestry residents (8.2%), among others.

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 Franklin Corners / Malvern neighborhood spend between 15 and 30 minutes commuting one-way to work (44.9% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (78.5%) 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 (13.2%) . 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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