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Real Estate Prices & Overview

W 54th St / S Albany Ave median real estate price is $244,114, which is more expensive than 44.4% of the neighborhoods in Illinois and 31.7% of the neighborhoods in the U.S.

The average rental price in W 54th St / S Albany Ave is currently $1,553, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 63.7% 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

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

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, do you watch 'This Old House' on Public Television? Do you love the idea of fixing up a Colonial or Victorian era home, complete with the charm of yesteryear? Do you like to stroll or drive streets lined with gracious older residences? If you found yourself nodding yes to any of these questions, you are going to be interested in this unique neighborhood. The W 54th St / S Albany Ave neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 61.3% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 96.8% of the neighborhoods in the United States.

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

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. 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

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 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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Schools include:
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