Fulton Market / West Loop median real estate price is $1,157,956, which is more expensive than 97.7% of the neighborhoods in Illinois and 91.4% of the neighborhoods in the U.S.
The average rental price in Fulton Market / West Loop is currently $4,919, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 99.0% of the neighborhoods in Illinois.
Fulton Market / West Loop is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
Fulton Market / West Loop 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 occupied by a mixture of owners and renters. Many of the residences in the Fulton Market / West Loop neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.
Real estate vacancies in Fulton Market / West Loop are 4.0%, which is lower than one will find in 72.3% of American neighborhoods. Demand for real estate in Fulton Market / West Loop 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.
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.
Wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Fulton Market / West Loop neighborhood is wealthier than 95.7% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood. As one would expect in a considerably wealthy neighborhood such as this, Fulton Market / West Loop also has one of the lowest ratings of child poverty in the nation.
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 82.1% of the adults living in the Fulton Market / West Loop neighborhood have earned at least a bachelor's degree. This is a higher rate than NeighborhoodScout found in 98.3% of U.S. neighborhoods. In this way, this neighborhood truly stands out.
Also, one of the most interesting things about the Fulton Market / West Loop neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 55.3% 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 97.6% of the neighborhoods in America.
Finally, think about the people you know personally. How many of them would purchase box seats to opening night at the symphony? How many of them regularly attend gallery openings, or are the first to reserve tickets to opening night at the ballet? If they're like most of us, they don't do any of these things. But if you're among an exclusive crowd of wealthy and refined patrons of the arts, then you'll feel right at home in the Fulton Market / West Loop neighborhood: a neighborhood in which more "urban sophisticates" live than 96.7% of neighborhoods across the U.S. Here, your neighbors are defined as having urbane tastes in literature, music, live theatre and the arts. They are wealthy, educated, travel in style, and live a big city lifestyle whether or not they live in or near a big city. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for young, single professionals and highly educated executives.
The real estate in the Fulton Market / West Loop 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, 92.6% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.6% of American neighborhoods.
In addition, the Fulton Market / West Loop 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 83.7% 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.
In the Fulton Market / West Loop neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 21.1% of residents here. This is a higher proportion of walking commuters than we found in 98.3% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 10.0% of the Fulton Market / West Loop 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.
Finally, our research revealed that more commuters here take the bus to work (10.0% ride the bus) than 95.0% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.
The Fulton Market / West Loop neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 97.7% of the neighborhoods in America. In fact, 75.7% 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.
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. In the Fulton Market / West Loop neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 98.3% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Did you know that the Fulton Market / West Loop neighborhood has more British and Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.9% of this neighborhood's residents have British ancestry and 2.6% have Greek ancestry.
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 Fulton Market / West Loop neighborhood in Chicago are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 95.7% of the neighborhoods in America. 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 Fulton Market / West Loop neighborhood, 75.7% 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 15.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (4.5%), and 4.4% in manufacturing and laborer occupations.
Languages
The most common language spoken in the Fulton Market / West Loop neighborhood is English, spoken by 91.2% of households. Some people also speak Spanish (2.9%).
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 Fulton Market / West Loop neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Irish (14.5%). There are also a number of people of German ancestry (11.2%), and residents who report Polish roots (9.7%), and some of the residents are also of English ancestry (7.8%), along with some Asian ancestry residents (6.8%), among others. In addition, 11.9% 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 Fulton Market / West Loop neighborhood spend under 15 minutes commuting one-way to work (33.4% of working residents), one of the shortest commutes across America.
Here most residents (25.4%) 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 (21.1%) and 10.0% 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.
