What do we mean by a neighborhood?
Ä¢¹½ÊÓƵ® 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. Ä¢¹½ÊÓƵ 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.
W Thomas St / N Latrobe Ave median real estate price is $334,393, which is more expensive than 57.0% of the neighborhoods in Illinois and 43.8% of the neighborhoods in the U.S.
The average rental price in W Thomas St / N Latrobe Ave is currently $1,691, based on Ä¢¹½ÊÓƵ's exclusive analysis. Rents here are currently lower in price than 61.7% of Illinois neighborhoods.
W Thomas St / N Latrobe Ave is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
W Thomas St / N Latrobe Ave real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the W Thomas St / N Latrobe 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.
Home and apartment vacancy rates are 9.2% in W Thomas St / N Latrobe Ave. Ä¢¹½ÊÓƵ analysis shows that this rate is lower than 40.7% of the neighborhoods in the nation, approximately near the middle range for vacancies.
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 Thomas St / N Latrobe Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
Modes of Transportation
In the W Thomas St / N Latrobe Ave neighborhood, carpooling is still a popular way to get to and from work. Ä¢¹½ÊÓƵ's analysis reveals that 28.4% of commuters carpool here, which is more than in 98.3% of all U.S. neighborhoods.
Also, more people ride the bus in this neighborhood each day to get to work than 96.5% of U.S. neighborhoods.
Finally, in the W Thomas St / N Latrobe Ave neighborhood, 9.8% of people ride the train to work each day. This is a very high percentage compared to most places. In fact, Ä¢¹½ÊÓƵ's analysis reveals that this is a higher level of train ridership than in 95.4% of the neighborhoods in America.
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 W Thomas St / N Latrobe Ave neighborhood is among the top 5% of American neighborhoods in terms of walkability.
In addition, 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 W Thomas St / N Latrobe 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 35.0% of the real estate here is made up of such dwellings, which is higher than 96.1% of all U.S. neighborhoods.
Furthermore, 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 54.5% of the residential real estate in the W Thomas St / N Latrobe Ave neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 95.2% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
People
The W Thomas St / N Latrobe Ave neighborhood is unique for having just 6.4% of adults here having earned a bachelor's degree. This is a lower rate of college graduates than Ä¢¹½ÊÓƵ found in 96.2% of America's neighborhoods.
Diversity
Did you know that the W Thomas St / N Latrobe Ave neighborhood has more South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 14.3% of this neighborhood's residents have South American 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. Ä¢¹½ÊÓƵ's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the W Thomas St / N Latrobe Ave neighborhood in Chicago are lower-middle income, making it a below average income neighborhood. Ä¢¹½ÊÓƵ's research shows that this neighborhood has an income lower than 64.2% of U.S. neighborhoods. With 12.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 55.5% 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 W Thomas St / N Latrobe Ave neighborhood, 38.4% of the working population is employed in manufacturing and laborer 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 26.7% of the residents employed. Other residents here are employed in executive, management, and professional occupations (19.7%), and 15.1% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the W Thomas St / N Latrobe Ave neighborhood is English, spoken by 67.5% of households. Some people also speak Spanish (31.6%).
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 W Thomas St / N Latrobe Ave neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as South American (14.3%). There are also a number of people of Mexican ancestry (14.1%), and residents who report Puerto Rican roots (5.8%). In addition, 20.8% 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 W Thomas St / N Latrobe Ave neighborhood spend between 30 and 45 minutes commuting one-way to work (41.0% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (47.0%) 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 (28.4%) and 12.5% of residents also ride the bus 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.
