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Real Estate Prices & Overview

Morgan Park Northeast median real estate price is $239,801, which is more expensive than 39.8% of the neighborhoods in Illinois and 28.8% of the neighborhoods in the U.S.

The average rental price in Morgan Park Northeast is currently $1,697, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 60.8% of Illinois neighborhoods.

Morgan Park Northeast is an urban neighborhood (based on population density) located in Chicago, Illinois.

Morgan Park Northeast real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the Morgan Park Northeast neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

Real estate vacancies in Morgan Park Northeast are 5.0%, which is lower than one will find in 66.4% of American neighborhoods. Demand for real estate in Morgan Park Northeast 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

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 Morgan Park Northeast neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Diversity

Did you know that the Morgan Park Northeast neighborhood has more Jamaican and African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.7% of this neighborhood's residents have Jamaican ancestry and 8.0% have African ancestry.

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 Morgan Park Northeast 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 77.1% of U.S. neighborhoods. With 24.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 75.4% of U.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 Morgan Park Northeast neighborhood, 35.0% 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 25.3% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (24.4%), and 15.3% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Morgan Park Northeast neighborhood is English, spoken by 97.1% of households.

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 Morgan Park Northeast neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (8.0%). There are also a number of people of African ancestry (8.0%), and residents who report Jamaican roots (4.7%), and some of the residents are also of Arab ancestry (2.7%), along with some Mexican ancestry residents (1.5%), among others.

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 Morgan Park Northeast neighborhood spend between 45 minutes and one hour commuting one-way to work (34.1% of working residents), longer and tougher than most commutes in America.

Here most residents (64.8%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (9.4%) and 8.2% of residents also carpool with coworkers, friends, or neighbors 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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