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Real Estate Prices & Overview

Norwood Park West median real estate price is $418,090, which is more expensive than 74.0% of the neighborhoods in Illinois and 57.5% of the neighborhoods in the U.S.

The average rental price in Norwood Park West is currently $3,197, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 88.6% of the neighborhoods in Illinois.

Norwood Park West is an urban neighborhood (based on population density) located in Chicago, Illinois.

Norwood Park West 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 Norwood Park West neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

In Norwood Park West, 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 Norwood Park West is very tight compared to the demand for property here.

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.

Real Estate

Owner-occupied real estate dominates the Norwood Park West neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 97.7% 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 Norwood Park West 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

In a nation where 1 out of every 4 children lives in poverty, the Norwood Park West neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, 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 Norwood Park West neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 99.0% 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 Norwood Park West neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for families with school-aged children.

Occupations

The government often provides some of the more stable jobs in the economy. From local, to state, to federal government workers, the government can also be a major employer. What NeighborhoodScout's analysis revealed, is that the Norwood Park West neighborhood in particular stands out when compared nationally for the proportion of its working residents who are employed by the government. At 22.4% of its workforce, this neighborhood has a greater concentration of government workers than 99.4% of U.S. neighborhoods.

Diversity

Did you know that the Norwood Park West neighborhood has more Romanian and Polish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.4% of this neighborhood's residents have Romanian ancestry and 16.2% have Polish ancestry.

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 Norwood Park West neighborhood in Chicago 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 92.5% of the neighborhoods in America. In addition, 0.0% 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 100.0% of America's neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Norwood Park West neighborhood, 45.2% 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 23.0% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (22.4%), and 16.5% 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 Norwood Park West neighborhood is English, spoken by 80.2% of households. Other important languages spoken here include Spanish, Polish and Chinese.

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 Norwood Park West neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as German (20.0%). There are also a number of people of Irish ancestry (17.5%), and residents who report Polish roots (16.2%), and some of the residents are also of Italian ancestry (14.3%), along with some Asian ancestry residents (8.5%), among others. In addition, 13.3% 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 Norwood Park West neighborhood spend between 45 minutes and one hour commuting one-way to work (31.2% of working residents), longer and tougher than most commutes in America.

Here most residents (78.1%) drive alone in a private automobile to get to work. 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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