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Real Estate Prices & Overview

E 81st St / S Vernon Ave median real estate price is $292,050, which is more expensive than 51.2% of the neighborhoods in Illinois and 38.2% of the neighborhoods in the U.S.

The average rental price in E 81st St / S Vernon Ave is currently $1,771, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 58.2% of Illinois neighborhoods.

E 81st St / S Vernon Ave is a densely urban neighborhood (based on population density) located in Chicago, Illinois.

E 81st St / S Vernon Ave real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) small apartment buildings and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the E 81st St / S Vernon 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 1970 and 1999.

E 81st St / S Vernon Ave has a 14.4% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 76.6% 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

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

Real Estate

Three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The E 81st St / S Vernon Ave neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 63.0% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 99.4% of America's neighborhoods.

In addition, if you like crowded places, then you will probably enjoy the the E 81st St / S Vernon Ave neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.0% of neighborhoods in the U.S., with 24,630 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 E 81st St / S Vernon Ave neighborhood is one of the most walkable neighborhoods in America.

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 64.5% of the residential real estate in the E 81st St / S Vernon Ave neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 97.5% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Modes of Transportation

More people ride the bus in this neighborhood each day to get to work than 99.3% of U.S. neighborhoods.

Car Ownership

American households most often have a car, and regularly they have two or three. But households in the E 81st St / S Vernon Ave neighborhood buck this trend. 20.4% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 95.3% of U.S. neighborhoods.

Diversity

Did you know that the E 81st St / S Vernon Ave neighborhood has more Jamaican and Sub-Saharan African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 13.3% of this neighborhood's residents have Jamaican ancestry and 20.0% have Sub-Saharan African 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 E 81st St / S Vernon 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 94.4% of U.S. neighborhoods. With 44.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 91.4% of U.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 E 81st St / S Vernon Ave neighborhood, 36.7% 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 executive, management, and professional occupations, with 35.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (16.2%), and 11.8% in manufacturing and laborer occupations.

Languages

The most common language spoken in the E 81st St / S Vernon Ave neighborhood is English, spoken by 95.6% of households. Some people also speak Spanish (3.6%).

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 E 81st St / S Vernon Ave neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (20.0%). There are also a number of people of Jamaican ancestry (13.3%), and residents who report African roots (12.4%).

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 E 81st St / S Vernon Ave neighborhood spend between 30 and 45 minutes commuting one-way to work (43.5% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (32.0%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (25.3%) and 16.5% 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.


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