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Real Estate Prices & Overview

N Chicago St / Michigan Ave median real estate price is $503,569, which is less expensive than 82.0% of California neighborhoods and 34.5% of all U.S. neighborhoods.

The average rental price in N Chicago St / Michigan Ave is currently $1,997, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 88.0% of California neighborhoods.

N Chicago St / Michigan Ave is a densely urban neighborhood (based on population density) located in Los Angeles, California.

N Chicago St / Michigan Ave real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the N Chicago St / Michigan Ave neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

N Chicago St / Michigan Ave has a 15.2% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 78.4% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

Modes of Transportation

More people ride the bus in this neighborhood each day to get to work than 98.6% of U.S. neighborhoods.

Real Estate

93.9% of the real estate in the N Chicago St / Michigan Ave neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

In addition, the N Chicago St / Michigan Ave neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 88.6% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

Furthermore, if you like crowded places, then you will probably enjoy the the N Chicago St / Michigan Ave neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.0% of neighborhoods in the U.S., with 24,609 people per square mile living here. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The N Chicago St / Michigan Ave neighborhood is among the top 5% of American neighborhoods in terms of walkability.

People

With more than 1.9% of residents living with a same sex partner, N Chicago St / Michigan Ave is truly a neighborhood that stands out from the rest in this regard. In fact, exclusive analysis by NeighborhoodScout reveals that this neighborhood has a greater concentration of same sex couples than 96.8% of U.S. neighborhoods.

Occupations

NeighborhoodScout's exclusive research identifies the N Chicago St / Michigan Ave neighborhood as having one of the highest concentrations of people employed in manufacturing or as laborers of any neighborhood in America. In fact, despite the loss of manufacturing jobs nationally, this neighborhood has 41.6% of its working residents employed in such fields, which is a higher proportion than 95.0% of American neighborhoods.

Diversity

Did you know that the N Chicago St / Michigan Ave neighborhood has more Mexican and Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 81.4% of this neighborhood's residents have Mexican ancestry and 1.7% have Armenian ancestry.

N Chicago St / Michigan Ave is also pretty special linguistically. Significantly, 81.8% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 98.8% of all U.S. neighborhoods.

Migration / Stability

The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. What is interesting to note, is that the N Chicago St / Michigan Ave neighborhood has a greater percentage of residents born in another country (46.5%) than are found in 96.6% of all U.S. neighborhoods.

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 N Chicago St / Michigan Ave neighborhood in Los Angeles are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 83.9% of U.S. neighborhoods. With 37.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 87.4% of U.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 N Chicago St / Michigan Ave neighborhood, 41.6% of the working population is employed in manufacturing and laborer 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 28.3% of the residents employed. Other residents here are employed in executive, management, and professional occupations (17.9%), and 11.4% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the N Chicago St / Michigan Ave neighborhood is Spanish, spoken by 81.8% of households. Some people also speak English (16.4%).

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 N Chicago St / Michigan Ave neighborhood in Los Angeles, CA, residents most commonly identify their ethnicity or ancestry as Mexican (81.4%). There are also a number of people of Armenian ancestry (1.7%). In addition, 46.5% 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 N Chicago St / Michigan Ave neighborhood spend between 15 and 30 minutes commuting one-way to work (33.0% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (54.3%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (20.1%) and 12.5% of residents also carpool with coworkers, friends, or neighbors for their daily commute. 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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