Fulton Market / West Loop median real estate price is $1,070,963, which is more expensive than 98.6% of the neighborhoods in Illinois and 92.0% of the neighborhoods in the U.S.
The average rental price in Fulton Market / West Loop is currently $4,984, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 99.1% of the neighborhoods in Illinois.
Fulton Market / West Loop is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
Fulton Market / West Loop 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 occupied by a mixture of owners and renters. Many of the residences in the Fulton Market / West Loop neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.
Real estate vacancies in Fulton Market / West Loop are 4.4%, which is lower than one will find in 70.8% of American neighborhoods. Demand for real estate in Fulton Market / West Loop is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.
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.
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 2.0% of America's neighborhoods are wealthier than the Fulton Market / West Loop 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, Fulton Market / West Loop also has one of the lowest ratings of child poverty in the nation.
In addition, the rate of college educated adults in the Fulton Market / West Loop neighborhood is a unique characteristic of the neighborhood. 82.8% 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 98.6% of all U.S. neighborhoods.
Also, 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 Fulton Market / West Loop neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 97.3% 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 Fulton Market / West Loop neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for young, single professionals and highly educated executives.
Finally, one of the most interesting things about the Fulton Market / West Loop neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 50.4% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 95.9% of the neighborhoods in America.
Modes of Transportation
More people in Fulton Market / West Loop choose to walk to work each day (21.3%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Also, our research revealed that more commuters here take the bus to work (13.2% ride the bus) than 96.6% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.
Real Estate
One of the really unique and interesting things about the look and setting of the Fulton Market / West Loop neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 90.0% 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 98.2% of all neighborhoods in America.
In addition, the Fulton Market / West Loop 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 82.4% 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.
Diversity
Did you know that the Fulton Market / West Loop neighborhood has more Romanian and Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.5% of this neighborhood's residents have Romanian ancestry and 2.5% have Greek ancestry.
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. In the Fulton Market / West Loop neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 96.8% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 Fulton Market / West Loop 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 98.0% 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 Fulton Market / West Loop neighborhood, 68.9% 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 21.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (6.2%), and 3.5% in manufacturing and laborer occupations.
Languages
The most common language spoken in the Fulton Market / West Loop neighborhood is English, spoken by 89.7% of households.
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 Fulton Market / West Loop neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Irish (16.0%). There are also a number of people of German ancestry (16.0%), and residents who report Polish roots (10.5%), and some of the residents are also of Asian ancestry (8.4%), along with some English ancestry residents (8.4%), among others. In addition, 11.5% 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 Fulton Market / West Loop neighborhood spend between 15 and 30 minutes commuting one-way to work (35.3% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (25.0%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (21.3%) and 13.2% of residents also ride the bus 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.
