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Real Estate Prices & Overview

Fernway median real estate price is $458,629, which is more expensive than 84.1% of the neighborhoods in Illinois and 67.4% of the neighborhoods in the U.S.

The average rental price in Fernway is currently $2,876, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 87.4% of the neighborhoods in Illinois.

Fernway is an urban neighborhood (based on population density) located in Tinley Park, Illinois.

Fernway 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 Fernway neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

In Fernway, 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 Fernway 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

Owner-occupied real estate dominates the Fernway neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 99.5% of neighborhoods in America. This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Fernway neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.

People

If you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the Fernway neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 96.8% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the Fernway neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives and families with school-aged children.

In addition, priests and therapists would like to think they know the secrets to a truly successful marriage, but according to NeighborhoodScout's research, the folks of the Fernway neighborhood may actually hold the key. 68.5% of its residents are married, which is a higher percentage than is found in 96.8% of the neighborhoods in America.

Also, if you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 3.8% of America's neighborhoods are wealthier than the Fernway neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe.

Diversity

Did you know that the Fernway neighborhood has more Greek and Polish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.0% of this neighborhood's residents have Greek ancestry and 19.2% have Polish ancestry.

Fernway is also pretty special linguistically. Significantly, 3.9% of its residents five years old and above primarily speak Arabic at home. While this may seem like a small percentage, it is higher than 97.7% 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 Fernway neighborhood in Tinley Park are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 96.2% 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 77.4% 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 Fernway neighborhood, 59.1% 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 15.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (14.5%), and 11.3% 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 Fernway neighborhood is English, spoken by 85.0% of households. Other important languages spoken here include Polish and Arabic.

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 Fernway neighborhood in Tinley Park, IL, residents most commonly identify their ethnicity or ancestry as German (26.4%). There are also a number of people of Irish ancestry (21.0%), and residents who report Polish roots (19.2%), and some of the residents are also of Italian ancestry (18.6%), along with some Greek ancestry residents (5.0%), among others.

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 Fernway neighborhood spend between 30 and 45 minutes commuting one-way to work (37.6% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (81.8%) 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 (7.9%) . 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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