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Real Estate Prices & Overview

Oak Park Blvd / Jerome St median real estate price is $203,246, which is more expensive than 43.4% of the neighborhoods in Michigan and 26.4% of the neighborhoods in the U.S.

The average rental price in Oak Park Blvd / Jerome St is currently $2,318, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 86.0% of the neighborhoods in Michigan.

Oak Park Blvd / Jerome St is an urban neighborhood (based on population density) located in Oak Park, Michigan.

Oak Park Blvd / Jerome St real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two 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 Oak Park Blvd / Jerome St neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Real estate vacancies in Oak Park Blvd / Jerome St are 3.8%, which is lower than one will find in 76.3% of American neighborhoods. Demand for real estate in Oak Park Blvd / Jerome St is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

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 Oak Park, the Oak Park Blvd / Jerome St neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Most neighborhoods have a mixture of ages of homes in them, from new to old, but this neighborhood stands out due to its concentration of residential real estate built in one time frame: from 1940 through 1969, generally considered older, well-established homes. This was a busy time in America for home construction. After the end of World War II, as GIs came home, bought newly built homes on the edges of cities with the help of the GI Bill, and began their families. This housing era generally coincides with the 'Baby Boom' generation (1945 - 1964), and many baby boomers grew up in homes built in this era. But what is so interesting about the Oak Park Blvd / Jerome St neighborhood, is that an incredible 96.1% of the homes here were built in this era. So when you walk its streets or drive through, this neighborhood has a look and feel that harkens to that era in American life, a very important slice of Americana.

Diversity

Did you know that the Oak Park Blvd / Jerome St neighborhood has more Sub-Saharan African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 26.0% of this neighborhood's residents have Sub-Saharan African ancestry.

Oak Park Blvd / Jerome St is also pretty special linguistically. Significantly, 2.7% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 96.6% 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 Oak Park Blvd / Jerome St neighborhood in Oak Park are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 64.7% of U.S. neighborhoods. With 14.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 58.4% 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 Oak Park Blvd / Jerome St neighborhood, 39.7% 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 32.0% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (17.0%), and 11.3% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Oak Park Blvd / Jerome St neighborhood is English, spoken by 94.8% of households. Some people also speak African languages (2.7%).

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 Oak Park Blvd / Jerome St neighborhood in Oak Park, MI, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (26.0%). There are also a number of people of African ancestry (4.9%), and residents who report Irish roots (2.7%), and some of the residents are also of German ancestry (2.6%), along with some English ancestry residents (1.7%), 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 Oak Park Blvd / Jerome St neighborhood spend between 15 and 30 minutes commuting one-way to work (38.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (76.8%) 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 (9.7%) . 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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