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Real Estate Prices & Overview

Morgan Park median real estate price is $290,729, which is more expensive than 49.5% of the neighborhoods in Illinois and 37.1% of the neighborhoods in the U.S.

The average rental price in Morgan Park is currently $2,899, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 82.3% of the neighborhoods in Illinois.

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

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

Home and apartment vacancy rates are 9.6% in Morgan Park. NeighborhoodScout analysis shows that this rate is lower than 40.0% of the neighborhoods in the nation, approximately near the middle range for vacancies.

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 Morgan Park neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Diversity

Did you know that the Morgan Park neighborhood has more Jamaican and Finnish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 8.4% of this neighborhood's residents have Jamaican ancestry and 1.4% have Finnish ancestry.

The Neighbors

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 Morgan Park neighborhood in Chicago are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 76.1% of U.S. neighborhoods. With 19.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 68.2% 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 Morgan Park neighborhood, 33.5% of the working population is employed in clerical, assistant, and tech support occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 32.6% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (21.8%), and 12.1% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Morgan Park neighborhood is English, spoken by 98.8% of households.

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 Morgan Park neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Irish (15.0%). There are also a number of people of Jamaican ancestry (8.4%), and residents who report Sub-Saharan African roots (7.0%), and some of the residents are also of African ancestry (5.9%), along with some German ancestry residents (3.3%), among others.

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 Morgan Park neighborhood spend between 30 and 45 minutes commuting one-way to work (49.5% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (65.1%) 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 (12.6%) and 9.2% of residents also take the train 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.


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