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Real Estate Prices & Overview

Lexington Village median real estate price is $303,530, which is more expensive than 61.0% of the neighborhoods in Illinois and 46.1% of the neighborhoods in the U.S.

The average rental price in Lexington Village is currently $2,358, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 80.3% of the neighborhoods in Illinois.

Lexington Village is an urban neighborhood (based on population density) located in Schaumburg, Illinois.

Lexington Village real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Lexington Village 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 7.1% in Lexington Village. NeighborhoodScout analysis shows that this rate is lower than 54.9% 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 Schaumburg, the Lexington Village neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the Lexington Village neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 41.7% of the real estate here is made up of such dwellings, which is higher than 97.2% of all U.S. neighborhoods.

In addition, most neighborhoods are composed of a mixture of ages of homes, but the Lexington Village stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 86.2% of the residential real estate here was built in this one time period.

Diversity

Did you know that the Lexington Village neighborhood has more Yugoslav and Polish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.2% of this neighborhood's residents have Yugoslav ancestry and 15.9% have Polish ancestry.

Lexington Village is also pretty special linguistically. Significantly, 5.1% of its residents five years old and above primarily speak Langs. of India at home. While this may seem like a small percentage, it is higher than 97.4% 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 Lexington Village neighborhood in Schaumburg are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 64.9% of the neighborhoods in America. In addition, 1.6% 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 76.9% of America'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 Lexington Village neighborhood, 48.2% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 20.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (17.5%), and 14.1% 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 Lexington Village neighborhood is English, spoken by 65.1% of households. Other important languages spoken here include Langs. of India, Spanish and Tagalog (the first language of the Philippine region).

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 Lexington Village neighborhood in Schaumburg, IL, residents most commonly identify their ethnicity or ancestry as Asian (16.9%). There are also a number of people of Polish ancestry (15.9%), and residents who report German roots (15.7%), and some of the residents are also of Italian ancestry (15.2%), along with some Irish ancestry residents (12.7%), among others. In addition, 27.9% of the residents of this neighborhood were born in another country.

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 Lexington Village neighborhood spend between 15 and 30 minutes commuting one-way to work (38.5% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (78.2%) 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 (8.6%) . 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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