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Real Estate Prices & Overview

Alley / N Tripp Ave median real estate price is $379,440, which is more expensive than 68.1% of the neighborhoods in Illinois and 52.3% of the neighborhoods in the U.S.

The average rental price in Alley / N Tripp Ave is currently $2,245, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 65.1% of the neighborhoods in Illinois.

Alley / N Tripp Ave is a densely urban neighborhood (based on population density) located in Chicago, Illinois.

Alley / N Tripp Ave 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 occupied by a mixture of owners and renters. Many of the residences in the Alley / N Tripp 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 Alley / N Tripp Ave are 5.2%, which is lower than one will find in 65.2% of American neighborhoods. Demand for real estate in Alley / N Tripp 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

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 Alley / N Tripp Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

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 Alley / N Tripp 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 47.6% of the real estate here is made up of such dwellings, which is higher than 98.1% of all U.S. neighborhoods.

In addition, if you like crowded places, then you will probably enjoy the the Alley / N Tripp Ave neighborhood. According to NeighborhoodScout's exclusive data analysis, this neighborhood is more densely populated than 95.1% of neighborhoods in the U.S., with 20,820 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 Alley / N Tripp Ave neighborhood is one of the most walkable neighborhoods in America.

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 Alley / N Tripp Ave neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 54.7% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 95.1% of the neighborhoods in the United States.

Diversity

Did you know that the Alley / N Tripp Ave neighborhood has more Arab and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.7% of this neighborhood's residents have Arab ancestry and 16.2% have Puerto Rican ancestry.

Alley / N Tripp Ave is also pretty special linguistically. Significantly, 72.4% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 97.7% 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 Alley / N Tripp Ave 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 79.2% of U.S. neighborhoods. With 22.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 72.8% 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 Alley / N Tripp Ave neighborhood, 31.2% 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 executive, management, and professional occupations, with 27.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (25.1%), and 15.9% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Alley / N Tripp Ave neighborhood is Spanish, spoken by 72.4% of households. Some people also speak English (25.9%).

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 Alley / N Tripp Ave neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Mexican (54.8%). There are also a number of people of Puerto Rican ancestry (16.2%), and residents who report Arab roots (5.7%), and some of the residents are also of South American ancestry (5.2%), along with some German ancestry residents (3.6%), among others. In addition, 27.9% of the residents of this neighborhood were born in another country.

Getting to Work

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 Alley / N Tripp Ave neighborhood spend between 30 and 45 minutes commuting one-way to work (43.0% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (67.3%) 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 (15.3%) . 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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