Lower West Side median real estate price is $406,024, which is more expensive than 72.3% of the neighborhoods in Illinois and 56.1% of the neighborhoods in the U.S.
The average rental price in Lower West Side is currently $2,222, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 64.7% of the neighborhoods in Illinois.
Lower West Side is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
Lower West Side 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 Lower West Side 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.
Lower West Side has a 11.9% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 69.0% 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.
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 Lower West Side 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 64.0% of the real estate here is made up of such dwellings, which is higher than 99.5% of all U.S. neighborhoods.
In addition, if you like crowded places, then you will probably enjoy the the Lower West Side neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 96.5% of neighborhoods in the U.S., with 27,512 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 Lower West Side neighborhood is one of the most walkable neighborhoods in America.
Furthermore, renter-occupied real estate is dominant in the Lower West Side neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 83.9%, which is higher than 95.0% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.
Modes of Transportation
Would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the Lower West Side neighborhood is a fantastic option for bicycle commuters, as 5.5% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 98.5% of the neighborhoods in America.
Also, more people ride the bus in this neighborhood each day to get to work than 97.8% of U.S. neighborhoods.
Finally, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 17.3% of the Lower West Side neighborhood's commuters ride the train to and from work each day, which is more than we found in 96.9% of America's neighborhoods.
Car Ownership
Most American households own a car or other vehicle. Many own two cars or perhaps three. In the United States, it is useful to have an automobile not only for commuting, but also for shopping and getting to other services one needs. But NeighborhoodScout's analysis revealed that households in the Lower West Side neighborhood have a highly unusual car ownership. 34.2% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 97.6% of U.S. neighborhoods.
Diversity
Did you know that the Lower West Side neighborhood has more Lithuanian and Finnish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.1% of this neighborhood's residents have Lithuanian ancestry and 2.1% have Finnish ancestry.
Lower West Side is also pretty special linguistically. Significantly, 5.4% of its residents five years old and above primarily speak Korean at home. While this may seem like a small percentage, it is higher than 99.0% of the neighborhoods in America.
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 Lower West Side 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 62.5% of U.S. neighborhoods. In addition, 4.8% 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 65.2% 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 Lower West Side neighborhood, 49.4% 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 24.9% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (18.8%), and 7.0% in clerical, assistant, and tech support occupations.
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 Lower West Side neighborhood is Spanish, spoken by 59.2% of households. Other important languages spoken here include English, Korean and Polish.
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 Lower West Side neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Mexican (47.9%). There are also a number of people of Asian ancestry (9.4%), and residents who report German roots (4.1%), and some of the residents are also of Italian ancestry (3.0%), along with some Lithuanian ancestry residents (2.1%), among others. In addition, 41.7% 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 Lower West Side neighborhood spend between 30 and 45 minutes commuting one-way to work (40.5% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (24.9%) 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 (19.2%) and 17.3% 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.
