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Real Estate Prices & Overview

Altgeld Park median real estate price is $645,384, which is more expensive than 79.8% of the neighborhoods in Illinois and 69.1% of the neighborhoods in the U.S.

The average rental price in Altgeld Park is currently $2,349, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 67.5% of the neighborhoods in Illinois.

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

Altgeld Park real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) small apartment buildings and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the Altgeld 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 2000 and the present.

Altgeld Park has a 14.1% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 77.0% 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.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

Real Estate

Three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The Altgeld Park neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 69.6% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 99.7% of America's neighborhoods.

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 Altgeld Park neighborhood stands out on a national scale for the sheer concentration of historic residences it contains: 56.8% of the residential real estate here was built from 1939 or earlier, some much earlier. This is a greater concentration of historic homes than 95.8% of the neighborhoods in the United States.

People

Whether by choice, divorce, or unplanned pregnancy, single moms may have the toughest job in the book. NeighborhoodScout's exclusive analysis reveals that the Altgeld Park neighborhood has more single mother households than 99.2% of the neighborhoods in the U.S. Often high concentrations of single mother homes can be a strong indicator of family and social issues such as poverty, high rates of school dropouts, crime, and other societal problems.

Modes of Transportation

More people ride the bus in this neighborhood each day to get to work than 98.0% of U.S. neighborhoods.

Also, in the Altgeld Park neighborhood, 12.2% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, NeighborhoodScout's analysis reveals that this is a higher level of train ridership than in 96.0% of the neighborhoods in America.

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 Altgeld Park neighborhood have a highly unusual car ownership. 25.8% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 96.5% of U.S. neighborhoods.

Diversity

Did you know that the Altgeld Park neighborhood has more African and Puerto Rican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 11.3% of this neighborhood's residents have African ancestry and 10.1% have Puerto Rican 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 Altgeld Park neighborhood in Chicago are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 87.7% of U.S. neighborhoods. With 49.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 93.8% 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 Altgeld Park neighborhood, 35.3% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 24.3% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (23.8%), and 16.6% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

Languages

The most common language spoken in the Altgeld Park neighborhood is English, spoken by 82.8% of households. Some people also speak Spanish (15.0%).

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 Altgeld Park neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (11.3%). There are also a number of people of African ancestry (11.3%), and residents who report Puerto Rican roots (10.1%), and some of the residents are also of Mexican ancestry (5.6%), along with some Irish ancestry residents (2.2%), 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 Altgeld Park neighborhood spend between 45 minutes and one hour commuting one-way to work (26.9% of working residents), longer and tougher than most commutes in America.

Here most residents (62.2%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (16.7%) and 12.2% 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.


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