What do we mean by a neighborhood?
NeighborhoodScout® uses the official government designation for neighborhoods - the census tract.
Census tracts are small, relatively permanent subdivisions of a county that are defined by the U.S. Census Bureau in conjunction with local authorities all across the country to define real neighborhoods that are bounded to contain areas with homogeneous population characteristics (including economic status, lifestyle, and living conditions). Census tracts usually have 4,000 persons, but can range between 1,500 and 8,000 persons. This is the most fine-grained area for which detailed information is made available from the government, to protect the individual privacy of each of us. Because census tracts are based on population, they vary in size depending on the density of settlement. In urban areas, they are small, and in rural areas they can cover an entire small town or even a few small towns in very rural areas.
Since census tracts are subdivisions of a county, we did a spatial overlay of the census tracts onto city and town boundaries using a geographic information system to properly assign each census tract to its appropriate city or town. Then we named each census tract to the local colloquially recognized neighborhood name for that spot (e.g., Boston, MA (Dorchester). If there was not a name available, we named the census tract by the largest street intersection in the census tract (e.g., Worcester, MA (Lincoln St/Plantation St)
Why we don't use Zip Codes as neighborhoods
Zip codes were developed by the Postal Service for the purpose of delivering mail, but were never intended to define coherent neighborhoods. In addition, Zip Codes can have as many as 10 distinctly different census tracts contained within them. When distinct census tracts are blended together in a single Zip Code, the data reflects their average conditions and often gives a false sense of the area. The result is that potentially great matching neighborhoods can be missed, and erroneous matches can also be produced and delivered to you.
Using census tracts makes great matches possible, and helps people find the areas that are best for them and their families. Because we are committed to providing the highest possible quality and finding the neighborhoods that best meet your criteria, we use census tracts. And, as always, we show you the actual street map of the neighborhood so you know exactly where your best matching neighborhood is located.
What is a Condition Alert?
A condition alert is a condition in the neighborhood that triggers an alert. NeighborhoodScout contains condition alerts to highlight conditions that are extreme, whether good or bad. This helps answer crucial questions about the state of the neighborhood being evaluated, such as:
What are the risks of violent crime here?
Is the risk of home break-ins or other property crimes increasing?
Does real estate here hold its value?
Are the trends in local vacancies or unemployment concerning?
...and dozens more.
Information at a glance that you need to know to invest, appraise or finance a property.
Mckinley Park median real estate price is $413,198, which is more expensive than 72.1% of the neighborhoods in Illinois and 56.2% of the neighborhoods in the U.S.
The average rental price in Mckinley Park is currently $2,176, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 62.5% of the neighborhoods in Illinois.
Mckinley Park is an urban neighborhood (based on population density) located in Chicago, Illinois.
Mckinley 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 occupied by a mixture of owners and renters. Many of the residences in the Mckinley 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 1970 and 1999.
Real estate vacancies in Mckinley Park are 3.4%, which is lower than one will find in 77.6% of American neighborhoods. Demand for real estate in Mckinley 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
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
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 Mckinley 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, 55.3% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 98.9% of America's neighborhoods.
In addition, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 69.5% of the residential real estate in the Mckinley Park neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 98.5% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
Modes of Transportation
More people ride the bus in this neighborhood each day to get to work than 96.2% of U.S. neighborhoods.
Also, if you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 11.5% of the Mckinley Park neighborhood's commuters ride the train to and from work each day, which is more than we found in 95.5% of America's neighborhoods.
Diversity
Did you know that the Mckinley Park neighborhood has more Asian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 56.3% of this neighborhood's residents have Asian ancestry.
Mckinley Park is also pretty special linguistically. Significantly, 45.2% of its residents five years old and above primarily speak Chinese at home. This is a higher percentage than 99.9% of all U.S. neighborhoods.
Migration / Stability
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. More residents of the Mckinley Park neighborhood live here today that also were living in this same neighborhood five years ago than is found in 95.9% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while. What is interesting to note, is that the Mckinley Park neighborhood has a greater percentage of residents born in another country (51.7%) than are found in 98.0% 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 Mckinley Park neighborhood in Chicago are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 49.6% of the neighborhoods in America. With 13.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 56.3% of U.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 Mckinley Park neighborhood, 34.1% 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 manufacturing and laborer occupations, with 29.5% of the residents employed. Other residents here are employed in executive, management, and professional occupations (26.8%), and 9.7% 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 Mckinley Park neighborhood is Chinese, spoken by 45.2% of households. Other important languages spoken here include Spanish, English, Polish and Tagalog (the first language of the Philippine region).
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 Mckinley Park neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Asian (56.3%). There are also a number of people of Mexican ancestry (32.7%), and residents who report Puerto Rican roots (3.3%), and some of the residents are also of German ancestry (2.6%), along with some English ancestry residents (1.9%), among others. In addition, 51.7% 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 Mckinley Park neighborhood spend between 15 and 30 minutes commuting one-way to work (36.7% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (53.3%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (12.5%) and 12.0% 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.
SCOUT’s patented match algorithm identifies the most similar neighborhoods to a subject location, and quantifies the similarity to the subject location. This allows analysts to identify the most similar neighborhoods in a local market area for appraisals, investments, and research.
The algorithm uses 273 neighborhood conditions, identifies the dominant dimensions underlying the conditions and calculates the similarity. This captures the true culture and character of locations, economic conditions, and trends.
The closer to 100% means the locations are nearly identical. 80% is a very good, but not excellent match, and so forth.
