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Real Estate Prices & Overview

W Waveland Ave / N Neva Ave median real estate price is $491,589, which is more expensive than 80.2% of the neighborhoods in Illinois and 64.3% of the neighborhoods in the U.S.

The average rental price in W Waveland Ave / N Neva Ave is currently $2,028, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 45.4% of Illinois neighborhoods.

W Waveland Ave / N Neva Ave is an urban neighborhood (based on population density) located in Chicago, Illinois.

W Waveland Ave / N Neva Ave real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the W Waveland Ave / N Neva 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 W Waveland Ave / N Neva Ave are 5.7%, which is lower than one will find in 60.7% of American neighborhoods. Demand for real estate in W Waveland Ave / N Neva 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 W Waveland Ave / N Neva Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

Of note is NeighborhoodScout's research finding that the W Waveland Ave / N Neva Ave neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the W Waveland Ave / N Neva Ave community truly stands out from the rest in this regard.

In addition, one of the really interesting characteristics about the W Waveland Ave / N Neva Ave neighborhood is that, according to NeighborhoodScout's exclusive research, it is an excellent choice in which to reside for college students. Due to its popularity among college students who already choose to live here, its walkability, and its above average safety from crime, the neighborhood is ideal for prospective or already-enrolled college students. Between semesters and during school breaks, you'll notice that the excitement here fluctuates with the college seasons. Despite the excitement however, parents of college-age children can rest easy knowing that this neighborhood has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 0.3% of college-friendly places to live in the state of Illinois.

Diversity

Did you know that the W Waveland Ave / N Neva Ave neighborhood has more Polish and Arab ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 27.9% of this neighborhood's residents have Polish ancestry and 5.0% have Arab ancestry.

W Waveland Ave / N Neva Ave is also pretty special linguistically. Significantly, 21.5% of its residents five years old and above primarily speak Polish at home. While this may seem like a small percentage, it is higher than 99.8% of the neighborhoods in America.

Migration / Stability

The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. More residents of the W Waveland Ave / N Neva Ave neighborhood live here today that also were living in this same neighborhood five years ago than is found in 98.5% 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.

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 W Waveland Ave / N Neva Ave neighborhood in Chicago are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 69.7% of the neighborhoods in America. In addition, 0.0% 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 100.0% 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 W Waveland Ave / N Neva Ave neighborhood, 30.3% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 28.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (22.4%), and 18.8% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

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 W Waveland Ave / N Neva Ave neighborhood is English, spoken by 45.6% of households. Other important languages spoken here include Spanish, Polish, Italian and Arabic.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the W Waveland Ave / N Neva Ave neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Polish (27.9%). There are also a number of people of Mexican ancestry (19.0%), and residents who report German roots (9.2%), and some of the residents are also of Irish ancestry (7.2%), along with some Puerto Rican ancestry residents (5.8%), among others. In addition, 34.7% of the residents of this neighborhood were born in another country.

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 W Waveland Ave / N Neva Ave neighborhood spend between 45 minutes and one hour commuting one-way to work (30.8% of working residents), longer and tougher than most commutes in America.

Here most residents (66.1%) 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 (20.5%) . 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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