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Real Estate Prices & Overview

Rehm Park median real estate price is $513,699, which is more expensive than 86.2% of the neighborhoods in Illinois and 70.0% of the neighborhoods in the U.S.

The average rental price in Rehm Park is currently $2,060, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 62.1% of the neighborhoods in Illinois.

Rehm Park is an urban neighborhood (based on population density) located in Oak Park, Illinois.

Rehm Park real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Rehm Park 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 Rehm Park are 4.2%, which is lower than one will find in 72.2% of American neighborhoods. Demand for real estate in Rehm Park 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 Oak Park, the Rehm Park neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

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 Rehm Park neighborhood: a neighborhood in which more "urban sophisticates" live than 98.6% 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 highly educated executives.

Modes of Transportation

If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 20.0% of the Rehm Park neighborhood's commuters ride the train to and from work each day, which is more than we found in 97.2% of America's neighborhoods.

Real Estate

Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The Rehm Park neighborhood is among the top 5% of American neighborhoods in terms of walkability.

In addition, 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 Rehm Park neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 79.0% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 99.6% of the neighborhoods in the United States.

Diversity

Did you know that the Rehm Park neighborhood has more Irish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 22.1% of this neighborhood's residents have Irish ancestry.

The Neighbors

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 Rehm Park neighborhood in Oak Park 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 89.6% of the neighborhoods in America. In addition, 6.7% 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 59.3% 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 Rehm Park neighborhood, 68.0% 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 14.0% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.1%), and 8.9% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Rehm Park neighborhood is English, spoken by 89.2% of households. Some people also speak Spanish (7.6%).

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Rehm Park neighborhood in Oak Park, IL, residents most commonly identify their ethnicity or ancestry as German (25.1%). There are also a number of people of Irish ancestry (22.1%), and residents who report Polish roots (7.8%), and some of the residents are also of Italian ancestry (7.7%), along with some Mexican ancestry residents (7.2%), 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 Rehm Park neighborhood spend between 30 and 45 minutes commuting one-way to work (34.0% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (37.9%) drive alone in a private automobile to get to work. In addition, quite a number also take the train to get to work (20.0%) and 14.7% 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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