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Real Estate Prices & Overview

Cardinal Terrace / Oak Terrace median real estate price is $311,172, which is more expensive than 58.6% of the neighborhoods in Illinois and 43.6% of the neighborhoods in the U.S.

The average rental price in Cardinal Terrace / Oak Terrace is currently $2,748, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 82.1% of the neighborhoods in Illinois.

Cardinal Terrace / Oak Terrace is an urban neighborhood (based on population density) located in Mundelein, Illinois.

Cardinal Terrace / Oak Terrace real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Cardinal Terrace / Oak Terrace neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

In Cardinal Terrace / Oak Terrace, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Cardinal Terrace / Oak Terrace is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

Real Estate

With a real estate vacancy rate of only 0.0%, the Cardinal Terrace / Oak Terrace neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.

People

The Cardinal Terrace / Oak Terrace neighborhood stands out within Illinois for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 5.9% of college-friendly places to live in IL.

Diversity

Did you know that the Cardinal Terrace / Oak Terrace neighborhood has more Slovak and Austrian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.1% of this neighborhood's residents have Slovak ancestry and 1.4% have Austrian ancestry.

Cardinal Terrace / Oak Terrace is also pretty special linguistically. Significantly, 0.5% of its residents five years old and above primarily speak Mon-Khmer, which is the dominant language of Cambodia, at home. While this may seem like a small percentage, it is higher than 97.8% 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 Cardinal Terrace / Oak Terrace neighborhood in Mundelein are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 77.6% of the neighborhoods in America. With 11.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 52.8% 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 Cardinal Terrace / Oak Terrace neighborhood, 34.2% 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 30.5% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (25.0%), and 10.3% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Cardinal Terrace / Oak Terrace neighborhood is English, spoken by 65.1% of households. Some people also speak Spanish (25.7%).

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Cardinal Terrace / Oak Terrace neighborhood in Mundelein, IL, residents most commonly identify their ethnicity or ancestry as Mexican (28.7%). There are also a number of people of German ancestry (22.5%), and residents who report Polish roots (10.1%), and some of the residents are also of Irish ancestry (9.1%), along with some English ancestry residents (7.3%), among others. In addition, 18.2% 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 Cardinal Terrace / Oak Terrace neighborhood spend between 15 and 30 minutes commuting one-way to work (36.6% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (72.0%) 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 (12.4%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


Real Estate includes:
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Economics & Demographics include:
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Commute To Work
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Crime includes:
Neighborhood Crime Index
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Schools include:
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