What do we mean by a neighborhood?
NeighborhoodScout® uses the official government designation for neighborhoods - the census tract.
Census tracts are small, relatively permanent subdivisions of a county that are defined by the U.S. Census Bureau in conjunction with local authorities all across the country to define real neighborhoods that are bounded to contain areas with homogeneous population characteristics (including economic status, lifestyle, and living conditions). Census tracts usually have 4,000 persons, but can range between 1,500 and 8,000 persons. This is the most fine-grained area for which detailed information is made available from the government, to protect the individual privacy of each of us. Because census tracts are based on population, they vary in size depending on the density of settlement. In urban areas, they are small, and in rural areas they can cover an entire small town or even a few small towns in very rural areas.
Since census tracts are subdivisions of a county, we did a spatial overlay of the census tracts onto city and town boundaries using a geographic information system to properly assign each census tract to its appropriate city or town. Then we named each census tract to the local colloquially recognized neighborhood name for that spot (e.g., Boston, MA (Dorchester). If there was not a name available, we named the census tract by the largest street intersection in the census tract (e.g., Worcester, MA (Lincoln St/Plantation St)
Why we don't use Zip Codes as neighborhoods
Zip codes were developed by the Postal Service for the purpose of delivering mail, but were never intended to define coherent neighborhoods. In addition, Zip Codes can have as many as 10 distinctly different census tracts contained within them. When distinct census tracts are blended together in a single Zip Code, the data reflects their average conditions and often gives a false sense of the area. The result is that potentially great matching neighborhoods can be missed, and erroneous matches can also be produced and delivered to you.
Using census tracts makes great matches possible, and helps people find the areas that are best for them and their families. Because we are committed to providing the highest possible quality and finding the neighborhoods that best meet your criteria, we use census tracts. And, as always, we show you the actual street map of the neighborhood so you know exactly where your best matching neighborhood is located.
What is a Condition Alert?
A condition alert is a condition in the neighborhood that triggers an alert. NeighborhoodScout contains condition alerts to highlight conditions that are extreme, whether good or bad. This helps answer crucial questions about the state of the neighborhood being evaluated, such as:
What are the risks of violent crime here?
Is the risk of home break-ins or other property crimes increasing?
Does real estate here hold its value?
Are the trends in local vacancies or unemployment concerning?
...and dozens more.
Information at a glance that you need to know to invest, appraise or finance a property.
Lakeview North median real estate price is $725,394, which is more expensive than 89.5% of the neighborhoods in Illinois and 76.8% of the neighborhoods in the U.S.
The average rental price in Lakeview North is currently $2,437, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 71.7% of the neighborhoods in Illinois.
Lakeview North is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
Lakeview North 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 small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Lakeview North neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1970 and 1999.
Lakeview North has a 12.6% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 71.3% 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
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 Chicago, the Lakeview North neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Real Estate
The Lakeview North neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 39,766 persons per square mile in the neighborhood, it is more packed with people than 97.9% of the nation's neighborhoods. 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 Lakeview North neighborhood is among the top 5% of American neighborhoods in terms of walkability.
In addition, the real estate in the Lakeview North neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 76.5% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 96.2% of American neighborhoods.
Modes of Transportation
In the Lakeview North neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 33.5% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 98.3% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
Also, in the Lakeview North neighborhood, 27.7% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 98.0% of the neighborhoods in America.
People
Do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 77.4% of the adults living in the Lakeview North neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 97.0% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
In addition, if you're looking for an active nightlife with lots of opportunities to flirt and find romance, then you probably won't have to go too far from the Lakeview North neighborhood to find it. Only 4.5% of the neighborhoods in the country have a larger proportion of young, single professionals. The nightlife may not be reminiscent of a "Sex and the City" episode, but the people who live here find friendship, romance, fun, and socializing readily available. In addition to being an excellent choice for young, single professionals, this neighborhood is also a very good choice for urban sophisticates.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the Lakeview North neighborhood buck this trend. 24.8% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 96.3% of U.S. neighborhoods.
Diversity
Did you know that the Lakeview North neighborhood has more Eastern European and Russian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.4% of this neighborhood's residents have Eastern European ancestry and 5.3% have Russian ancestry.
Lakeview North is also pretty special linguistically. Significantly, 8.3% 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 99.5% 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 Lakeview North neighborhood in Chicago are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 59.2% of the neighborhoods in America. With 46.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 92.5% 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 Lakeview North neighborhood, 66.8% 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 18.7% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (8.2%), and 6.3% 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 Lakeview North neighborhood is English, spoken by 77.6% of households. Other important languages spoken here include African languages and Spanish.
Ethnicity / Ancestry
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the Lakeview North neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (17.5%). There are also a number of people of German ancestry (13.8%), and residents who report Irish roots (9.1%), and some of the residents are also of Mexican ancestry (8.1%), along with some Russian ancestry residents (5.3%), among others. In addition, 16.3% 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 Lakeview North neighborhood spend between 30 and 45 minutes commuting one-way to work (41.4% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (27.7%) take the train to get to work. In addition, quite a number also drive alone in a private automobile to get to work (19.6%) and 8.9% of residents also ride the bus for their daily commute. This neighborhood is distinguished by the high number of residents who take the train to work each day, which can be a very good way to get to work at a lower cost and with less pollution.
SCOUT’s patented match algorithm identifies the most similar neighborhoods to a subject location, and quantifies the similarity to the subject location. This allows analysts to identify the most similar neighborhoods in a local market area for appraisals, investments, and research.
The algorithm uses 273 neighborhood conditions, identifies the dominant dimensions underlying the conditions and calculates the similarity. This captures the true culture and character of locations, economic conditions, and trends.
The closer to 100% means the locations are nearly identical. 80% is a very good, but not excellent match, and so forth.
