What do we mean by a neighborhood?
NeighborhoodScout® uses the official government designation for neighborhoods - the census tract.
Census tracts are small, relatively permanent subdivisions of a county that are defined by the U.S. Census Bureau in conjunction with local authorities all across the country to define real neighborhoods that are bounded to contain areas with homogeneous population characteristics (including economic status, lifestyle, and living conditions). Census tracts usually have 4,000 persons, but can range between 1,500 and 8,000 persons. This is the most fine-grained area for which detailed information is made available from the government, to protect the individual privacy of each of us. Because census tracts are based on population, they vary in size depending on the density of settlement. In urban areas, they are small, and in rural areas they can cover an entire small town or even a few small towns in very rural areas.
Since census tracts are subdivisions of a county, we did a spatial overlay of the census tracts onto city and town boundaries using a geographic information system to properly assign each census tract to its appropriate city or town. Then we named each census tract to the local colloquially recognized neighborhood name for that spot (e.g., Boston, MA (Dorchester). If there was not a name available, we named the census tract by the largest street intersection in the census tract (e.g., Worcester, MA (Lincoln St/Plantation St)
Why we don't use Zip Codes as neighborhoods
Zip codes were developed by the Postal Service for the purpose of delivering mail, but were never intended to define coherent neighborhoods. In addition, Zip Codes can have as many as 10 distinctly different census tracts contained within them. When distinct census tracts are blended together in a single Zip Code, the data reflects their average conditions and often gives a false sense of the area. The result is that potentially great matching neighborhoods can be missed, and erroneous matches can also be produced and delivered to you.
Using census tracts makes great matches possible, and helps people find the areas that are best for them and their families. Because we are committed to providing the highest possible quality and finding the neighborhoods that best meet your criteria, we use census tracts. And, as always, we show you the actual street map of the neighborhood so you know exactly where your best matching neighborhood is located.
What is a Condition Alert?
A condition alert is a condition in the neighborhood that triggers an alert. NeighborhoodScout contains condition alerts to highlight conditions that are extreme, whether good or bad. This helps answer crucial questions about the state of the neighborhood being evaluated, such as:
What are the risks of violent crime here?
Is the risk of home break-ins or other property crimes increasing?
Does real estate here hold its value?
Are the trends in local vacancies or unemployment concerning?
...and dozens more.
Information at a glance that you need to know to invest, appraise or finance a property.
S Vincennes Ave / E 47th St median real estate price is $410,827, which is more expensive than 72.1% of the neighborhoods in Illinois and 56.1% of the neighborhoods in the U.S.
The average rental price in S Vincennes Ave / E 47th St is currently $2,149, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 61.3% of the neighborhoods in Illinois.
S Vincennes Ave / E 47th St is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
S Vincennes Ave / E 47th 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 small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the S Vincennes Ave / E 47th St neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.
S Vincennes Ave / E 47th St has a 15.2% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 78.3% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
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 S Vincennes Ave / E 47th St neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
Of note is NeighborhoodScout's research finding that the S Vincennes Ave / E 47th St neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the S Vincennes Ave / E 47th St community truly stands out from the rest in this regard.
In addition, one of the most interesting things about the S Vincennes Ave / E 47th St neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 64.0% 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 99.3% of the neighborhoods in America.
Modes of Transportation
In the S Vincennes Ave / E 47th St neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 33.2% 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 98.2% 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.
Real Estate
If you like crowded places, then you will probably enjoy the the S Vincennes Ave / E 47th St neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 95.1% of neighborhoods in the U.S., with 20,806 people per square mile living here. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The S Vincennes Ave / E 47th St neighborhood is among the top 5% of American neighborhoods in terms of walkability.
In addition, corner bodegas, stores on the first floor and apartments above, former grand Victorian residences converted into apartments, three-deckers built shoulder-to-shoulder, duplexes. Such building types define the real estate of neighborhoods dominated by small 2, 3, and 4 unit apartment buildings. Many are in older core neighborhoods of Eastern and Midwestern cities, or historic town centers in their hinterlands. If you wax romantic about the look and feel of such neighborhoods, with fresh pizza, falafel and an independent florist at the corner, then you might find the S Vincennes Ave / E 47th St neighborhood worth a close look. This neighborhood is an absolutely outstanding example of the dominance of small 2, 3, and 4 unit apartment buildings compared to neighborhoods across the nation, as they make up a substantial portion of this neighborhood's real estate stock. In fact, no less than 31.2% of the real estate here is made up of such dwellings, which is higher than 95.1% of all U.S. neighborhoods.
Occupations
Each year, fewer and fewer Americans make their living as farmers, foresters, or fishers. But the S Vincennes Ave / E 47th St neighborhood truly stands out among U.S. neighborhoods. According to exclusive NeighborhoodScout analysis, this neighborhood has a greater proportion of farmers, foresters, or fishers than 97.1% of all American neighborhoods. This is truly a unique cultural characteristic of this neighborhood.
Diversity
Did you know that the S Vincennes Ave / E 47th St neighborhood has more Sub-Saharan African and Jamaican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 37.2% of this neighborhood's residents have Sub-Saharan African ancestry and 4.0% have Jamaican ancestry.
The Neighbors
There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.
The neighbors in the S Vincennes Ave / E 47th St neighborhood in Chicago are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 86.0% of U.S. neighborhoods. 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.
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 S Vincennes Ave / E 47th St neighborhood, 54.3% 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 27.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (11.5%), and 5.3% in farming, forestry, or commercial fishing.
Languages
The most common language spoken in the S Vincennes Ave / E 47th St neighborhood is English, spoken by 95.6% of households. Some people also speak Spanish (2.5%).
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 S Vincennes Ave / E 47th St neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (37.2%). There are also a number of people of German ancestry (4.0%), and residents who report Jamaican roots (4.0%), and some of the residents are also of African ancestry (1.6%).
Getting to Work
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 S Vincennes Ave / E 47th St neighborhood spend between 15 and 30 minutes commuting one-way to work (35.2% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (36.7%) 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 (10.1%) and 9.0% of residents also carpool with coworkers, friends, or neighbors 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.
SCOUT’s patented match algorithm identifies the most similar neighborhoods to a subject location, and quantifies the similarity to the subject location. This allows analysts to identify the most similar neighborhoods in a local market area for appraisals, investments, and research.
The algorithm uses 273 neighborhood conditions, identifies the dominant dimensions underlying the conditions and calculates the similarity. This captures the true culture and character of locations, economic conditions, and trends.
The closer to 100% means the locations are nearly identical. 80% is a very good, but not excellent match, and so forth.
