Old Town South median real estate price is $773,172, which is more expensive than 93.9% of the neighborhoods in Illinois and 82.8% of the neighborhoods in the U.S.
The average rental price in Old Town South is currently $3,809, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 95.3% of the neighborhoods in Illinois.
Old Town South is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
Old Town South 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 townhomes. Most of the residential real estate is renter occupied. Many of the residences in the Old Town South neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
Home and apartment vacancy rates are 9.3% in Old Town South. NeighborhoodScout analysis shows that this rate is lower than 40.1% 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.
More people in Old Town South choose to walk to work each day (23.4%) 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, in the Old Town South neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 32.2% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 96.2% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
Finally, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 12.2% of the Old Town South neighborhood's commuters ride the train to and from work each day, which is more than we found in 96.0% of America's neighborhoods.
The real estate in the Old Town South neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 88.7% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.0% of American neighborhoods.
In addition, homes built from 2000 through today make up a higher proportion of the Old Town South neighborhood's real estate landscape than 97.9% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 84.4% of the residential real estate here is classified as newer. In fact, the concentration of newer homes here is so great that they completely dominate the landscape. In most neighborhoods, there is a mixture of ages of residential real estate, but here it is almost completely built during one time frame: 2000 through today.
Furthermore, the Old Town South 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 88.4% 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.
Also of note, renter-occupied real estate is dominant in the Old Town South neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 88.0%, which is higher than 96.2% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.
A unique characteristic about the people in the Old Town South neighborhood is that a majority of them are young, single professionals. In fact, there are more young, single professionals in this one community than 97.5% of neighborhoods in the U.S. Here you'll find an active nightlife nearby with lots of opportunities to flirt and find romance.
In addition, do you like to read, write, and learn? Are you curious about the world? If so, this neighborhood may be a good fit for you. NeighborhoodScout's research revealed that a full 76.9% of the adults living in the Old Town South neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 96.7% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
Also, with more than 1.8% of residents living with a same sex partner, Old Town South is truly a neighborhood that stands out from the rest in this regard. In fact, exclusive analysis by NeighborhoodScout reveals that this neighborhood has a greater concentration of same sex couples than 96.0% of U.S. neighborhoods.
American households most often have a car, and regularly they have two or three. But households in the Old Town South neighborhood buck this trend. 29.8% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.1% of U.S. neighborhoods.
The Old Town South neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 96.1% of the neighborhoods in America. In fact, 72.0% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Significantly, 0.6% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 95.7% 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 Old Town South neighborhood in Chicago are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 76.5% of the neighborhoods in America. In addition, 6.7% 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 59.0% of America's neighborhoods.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the Old Town South neighborhood, 72.0% 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 12.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.8%), and 5.7% in manufacturing and laborer occupations.
Languages
The most common language spoken in the Old Town South neighborhood is English, spoken by 84.9% of households. Some people also speak Chinese (5.4%).
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 Old Town South neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Irish (11.6%). There are also a number of people of German ancestry (11.5%), and residents who report Asian roots (10.5%), and some of the residents are also of Italian ancestry (10.5%), along with some Sub-Saharan African ancestry residents (7.8%), among others. In addition, 11.8% of the residents of this neighborhood were born in another country.
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 Old Town South neighborhood spend between 15 and 30 minutes commuting one-way to work (56.2% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (23.4%) 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 (17.0%) and 12.2% 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.
