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Real Estate Prices & Overview

W 54th St / S Albany Ave median real estate price is $255,757, which is more expensive than 43.2% of the neighborhoods in Illinois and 31.6% of the neighborhoods in the U.S.

The average rental price in W 54th St / S Albany Ave is currently $1,634, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 63.6% of Illinois neighborhoods.

W 54th St / S Albany Ave is a densely urban neighborhood (based on population density) located in Chicago, Illinois.

W 54th St / S Albany Ave real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes 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 W 54th St / S Albany Ave 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.

Real estate vacancies in W 54th St / S Albany Ave are 4.7%, which is lower than one will find in 68.8% of American neighborhoods. Demand for real estate in W 54th St / S Albany Ave 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.

Notable & Unique Neighborhood Characteristics

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.

Real Estate

If you like crowded places, then you will probably enjoy the the W 54th St / S Albany Ave neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.7% of neighborhoods in the U.S., with 28,345 people per square mile living here. Being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the W 54th St / S Albany Ave neighborhood is one of the most walkable neighborhoods in America.

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 W 54th St / S Albany Ave 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 44.7% of the real estate here is made up of such dwellings, which is higher than 97.8% of all U.S. neighborhoods.

Furthermore, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 61.3% of the residential real estate in the W 54th St / S Albany Ave neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 96.8% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Modes of Transportation

If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 11.0% of the W 54th St / S Albany Ave neighborhood's commuters ride the train to and from work each day, which is more than we found in 95.4% of America's neighborhoods.

People

With a nice mix of college students, safety from crime, and decent walkability, the W 54th St / S Albany Ave neighborhood rates highly as a college student friendly place to live, and one that college students and their parents may want to consider. NeighborhoodScout's analysis shows that it rates more highly for a good place for college students to live than 85.3% of the neighborhoods in IL. This often also means that the area has certain amenities and services geared towards college students, from undergraduates to graduate students.

Diversity

Did you know that the W 54th St / S Albany Ave neighborhood has more Mexican and Slovak ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 86.4% of this neighborhood's residents have Mexican ancestry and 1.1% have Slovak ancestry.

W 54th St / S Albany Ave is also pretty special linguistically. Significantly, 90.1% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 99.5% of all U.S. neighborhoods.

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. What is interesting to note, is that the W 54th St / S Albany Ave neighborhood has a greater percentage of residents born in another country (42.3%) than are found in 95.0% of all U.S. neighborhoods.

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 W 54th St / S Albany Ave 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 90.6% of U.S. neighborhoods. With 17.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 64.6% 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 W 54th St / S Albany Ave neighborhood, 37.3% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 33.0% of the residents employed. Other residents here are employed in executive, management, and professional occupations (20.5%), and 9.1% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the W 54th St / S Albany Ave neighborhood is Spanish, spoken by 90.1% of households. Some people also speak English (9.3%).

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the W 54th St / S Albany Ave neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Mexican (86.4%). There are also a number of people of South American ancestry (5.6%), and residents who report Puerto Rican roots (3.6%), and some of the residents are also of Slovak ancestry (1.1%). In addition, 42.3% of the residents of this neighborhood were born in another country.

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 W 54th St / S Albany Ave neighborhood spend between 30 and 45 minutes commuting one-way to work (39.2% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (59.7%) 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 (14.4%) and 11.0% 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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