Loop Northwest median real estate price is $463,437, which is more expensive than 74.4% of the neighborhoods in Illinois and 59.8% of the neighborhoods in the U.S.
The average rental price in Loop Northwest is currently $4,103, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 97.6% of the neighborhoods in Illinois.
Loop Northwest is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
Loop Northwest 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 renter occupied. Many of the residences in the Loop Northwest neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.
Loop Northwest has a 12.6% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 71.3% 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.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Chicago, the Loop Northwest neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
In a nation where 1 out of every 4 children lives in poverty, the Loop Northwest neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.
In addition, of particular note, 7.7% of the people in the Loop Northwest neighborhood currently reside in a correction facility, held due to punishment for a crime.
Also, some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 44.4% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 98.3% of U.S. neighborhoods, where the average American neighborhood has 13.4% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.
Finally, a unique characteristic about the people in the Loop Northwest neighborhood is that a majority of them are young, single professionals. In fact, there are more young, single professionals in this one community than 96.6% of neighborhoods in the U.S. Here you'll find an active nightlife nearby with lots of opportunities to flirt and find romance. In addition to being an excellent choice for young, single professionals, this neighborhood is also a very good choice for urban sophisticates.
Modes of Transportation
In the Loop Northwest 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 40.0% of residents here. This is a higher proportion of walking commuters than we found in 99.6% of American neighborhoods. Get ready to put on your walking shoes if you move here!
Also, in the Loop Northwest neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 29.2% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 96.4% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.
Finally, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 11.5% of the Loop Northwest neighborhood's commuters ride the train to and from work each day, which is more than we found in 95.5% of America's neighborhoods.
Occupations
Executives, managers and professionals make up 82.7% of the workforce in the Loop Northwest neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 99.5% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.
Real Estate
The Loop Northwest 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 97.1% 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 addition, the real estate in the Loop Northwest 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, 95.9% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.2% of American neighborhoods.
Car Ownership
American households most often have a car, and regularly they have two or three. But households in the Loop Northwest neighborhood buck this trend. 55.1% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.0% of 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. In the Loop Northwest 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.
Diversity
Did you know that the Loop Northwest neighborhood has more Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 30.1% of this neighborhood's residents have Asian ancestry.
Loop Northwest is also pretty special linguistically. Significantly, 7.8% of its residents five years old and above primarily speak Chinese at home. While this may seem like a small percentage, it is higher than 97.0% of the neighborhoods in America.
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 Loop Northwest 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 87.2% 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.
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 Loop Northwest neighborhood, 82.7% 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 8.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (5.6%), and 4.6% in government jobs, whether they are in local, state, or federal positions.
Languages
The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Loop Northwest neighborhood is English, spoken by 66.2% of households. Other important languages spoken here include Spanish, Chinese and Langs. of India.
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 Loop Northwest neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Asian (30.1%). There are also a number of people of German ancestry (10.0%), and residents who report Mexican roots (8.2%), and some of the residents are also of Irish ancestry (6.5%), along with some Polish ancestry residents (5.2%), among others. In addition, 33.9% of the residents of this neighborhood were born in another country.
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 Loop Northwest neighborhood spend under 15 minutes commuting one-way to work (38.9% of working residents), one of the shortest commutes across America.
Here most residents (40.0%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (13.4%) and 11.5% of residents also take the train for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.
