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Real Estate Prices & Overview

Gage Park Southeast median real estate price is $216,249, which is more expensive than 37.2% of the neighborhoods in Illinois and 26.1% of the neighborhoods in the U.S.

The average rental price in Gage Park Southeast is currently $1,434, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 68.7% of Illinois neighborhoods.

Gage Park Southeast is a densely urban neighborhood (based on population density) located in Chicago, Illinois.

Gage Park Southeast real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) small apartment buildings and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Gage Park Southeast 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.

Gage Park Southeast has a 12.5% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 71.2% 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

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

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 Gage Park Southeast 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 47.8% of the real estate here is made up of such dwellings, which is higher than 98.1% of all U.S. neighborhoods.

In addition, 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 Gage Park Southeast neighborhood is one of the most walkable neighborhoods in America.

Modes of Transportation

If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 12.4% of the Gage Park Southeast neighborhood's commuters ride the train to and from work each day, which is more than we found in 95.8% of America's neighborhoods.

Also, more people ride the bus in this neighborhood each day to get to work than 95.7% of U.S. neighborhoods.

People

Whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the Gage Park Southeast neighborhood has more single mother households than 95.3% of the neighborhoods in the U.S. Often high concentrations of single mother homes can be a strong indicator of family and social issues such as poverty, high rates of school dropouts, crime, and other societal problems.

In addition, neighborhoodScout's exclusive research revealed that 92.9% of the adult residents in the Gage Park Southeast neighborhood do not have a 4-year college degree, which is a lower rate of college graduated adults than found in 95.1% of the neighborhoods in America.

Diversity

Did you know that the Gage Park Southeast neighborhood has more Mexican and Jamaican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 72.4% of this neighborhood's residents have Mexican ancestry and 3.0% have Jamaican ancestry.

Gage Park Southeast is also pretty special linguistically. Significantly, 77.8% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 98.4% 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 Gage Park Southeast 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 83.2% of U.S. neighborhoods. With 26.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 77.4% of U.S. neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Gage Park Southeast neighborhood, 37.2% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 25.4% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (24.0%), and 13.5% in executive, management, and professional occupations.

Languages

The most common language spoken in the Gage Park Southeast neighborhood is Spanish, spoken by 77.8% of households. Some people also speak English (22.2%).

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 Gage Park Southeast neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Mexican (72.4%). There are also a number of people of Puerto Rican ancestry (3.2%), and residents who report Jamaican roots (3.0%), and some of the residents are also of South American ancestry (1.8%), along with some Polish ancestry residents (1.1%), among others. In addition, 39.5% 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 Gage Park Southeast neighborhood spend between 30 and 45 minutes commuting one-way to work (33.9% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (56.1%) 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 (15.4%) and 12.4% 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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