N Franklin St / W Erie St median real estate price is $824,943, which is more expensive than 91.4% of the neighborhoods in Illinois and 79.8% of the neighborhoods in the U.S.
The average rental price in N Franklin St / W Erie St is currently $4,647, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 98.8% of the neighborhoods in Illinois.
N Franklin St / W Erie St is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
N Franklin St / W Erie St 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 occupied by a mixture of owners and renters. Many of the residences in the N Franklin St / W Erie St neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.
Home and apartment vacancy rates are 7.2% in N Franklin St / W Erie St. NeighborhoodScout analysis shows that this rate is lower than 52.6% of the neighborhoods in the nation, approximately near the middle range for vacancies.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
People
If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 4.2% of America's neighborhoods are wealthier than the N Franklin St / W Erie St neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. As one would expect in a considerably wealthy neighborhood such as this, N Franklin St / W Erie St also has one of the lowest ratings of child poverty in the nation.
In addition, the rate of college educated adults in the N Franklin St / W Erie St neighborhood is a unique characteristic of the neighborhood. 93.3% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 34.3% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 99.9% of all U.S. neighborhoods.
Also, think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the N Franklin St / W Erie St neighborhood: a neighborhood in which more "urban sophisticates" live than 96.9% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for young, single professionals and college students.
Real Estate
One of the really unique and interesting things about the look and setting of the N Franklin St / W Erie St neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 95.1% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 99.0% of all neighborhoods in America.
In addition, the N Franklin St / W Erie St neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 42,012 persons per square mile in the neighborhood, it is more packed with people than 98.0% of the nation's neighborhoods.
Furthermore, the N Franklin St / W Erie St 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 88.1% 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.
Modes of Transportation
In the N Franklin St / W Erie St neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 27.9% of residents here. This is a higher proportion of walking commuters than we found in 99.0% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, a unique way of commuting is simply not to. And in the N Franklin St / W Erie St neighborhood, analysis shows that 30.7% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 97.2% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
Finally, in the N Franklin St / W Erie St neighborhood, 11.4% 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 95.5% of the neighborhoods in America.
Occupations
Executives, managers and professionals make up 76.5% of the workforce in the N Franklin St / W Erie St neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 98.2% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the N Franklin St / W Erie St neighborhood buck this trend. 30.2% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.2% of U.S. neighborhoods.
Diversity
Did you know that the N Franklin St / W Erie St neighborhood has more Lithuanian and British ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.0% of this neighborhood's residents have Lithuanian ancestry and 3.5% have British ancestry.
N Franklin St / W Erie St is also pretty special linguistically. Significantly, 1.7% of its residents five years old and above primarily speak Portuguese at home. While this may seem like a small percentage, it is higher than 97.1% of the neighborhoods in America.
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 Franklin St / W Erie St 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 95.8% 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.
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 N Franklin St / W Erie St neighborhood, 76.5% 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 14.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (5.3%), and 3.2% in manufacturing and laborer occupations.
Languages
The most common language spoken in the N Franklin St / W Erie St neighborhood is English, spoken by 78.8% of households. Some people also speak Spanish (10.3%).
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 Franklin St / W Erie St neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as German (21.0%). There are also a number of people of Irish ancestry (16.1%), and residents who report Italian roots (9.1%), and some of the residents are also of English ancestry (8.4%), along with some Asian ancestry residents (7.1%), among others. In addition, 17.2% 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 N Franklin St / W Erie St neighborhood spend between 15 and 30 minutes commuting one-way to work (41.5% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (27.9%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (21.5%) and 11.4% of residents also take the train for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
