Park Place / Lorraine Terrace median real estate price is $349,703, which is more expensive than 62.8% of the neighborhoods in Illinois and 47.9% of the neighborhoods in the U.S.
The average rental price in Park Place / Lorraine Terrace is currently $1,627, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 63.9% of Illinois neighborhoods.
Park Place / Lorraine Terrace is a suburban neighborhood (based on population density) located in Elgin, Illinois.
Park Place / Lorraine Terrace 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 occupied by a mixture of owners and renters. Many of the residences in the Park Place / Lorraine Terrace neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
Home and apartment vacancy rates are 6.4% in Park Place / Lorraine Terrace. NeighborhoodScout analysis shows that this rate is lower than 57.3% of the neighborhoods in the nation, approximately near the middle range for vacancies.
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.
The Park Place / Lorraine Terrace neighborhood has a greater percentage of children living in poverty (61.2%) than found in 97.1% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.
Did you know that the Park Place / Lorraine Terrace neighborhood has more Hungarian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.4% of this neighborhood's residents have Hungarian ancestry.
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 Park Place / Lorraine Terrace neighborhood in Elgin are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 46.2% of the neighborhoods in America. With 61.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 97.1% of U.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 Park Place / Lorraine Terrace neighborhood, 30.1% 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 28.7% of the residents employed. Other residents here are employed in executive, management, and professional occupations (23.5%), and 17.7% in clerical, assistant, and tech support occupations.
The most common language spoken in the Park Place / Lorraine Terrace neighborhood is English, spoken by 66.5% of households. Some people also speak Spanish (28.8%).
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 Park Place / Lorraine Terrace neighborhood in Elgin, IL, residents most commonly identify their ethnicity or ancestry as Mexican (37.3%). There are also a number of people of German ancestry (12.5%), and residents who report Irish roots (6.3%), and some of the residents are also of English ancestry (5.8%), along with some Polish ancestry residents (5.5%), among others. In addition, 16.2% of the residents of this neighborhood were born in another country.
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 Park Place / Lorraine Terrace neighborhood spend between 15 and 30 minutes commuting one-way to work (35.8% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (74.7%) 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 (16.6%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.