University Village / Little Italy median real estate price is $569,544, which is more expensive than 79.2% of the neighborhoods in Illinois and 66.0% of the neighborhoods in the U.S.
The average rental price in University Village / Little Italy is currently $3,160, based on Ä¢¹½ÊÓƵ's exclusive analysis. The average rental cost in this neighborhood is higher than 88.1% of the neighborhoods in Illinois.
University Village / Little Italy is a densely urban neighborhood (based on population density) located in Chicago, Illinois.
University Village / Little Italy real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the University Village / Little Italy neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.
Real estate vacancies in University Village / Little Italy are 5.6%, which is lower than one will find in 61.2% of American neighborhoods. Demand for real estate in University Village / Little Italy 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.
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 Ä¢¹½ÊÓƵ's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
More people in University Village / Little Italy choose to walk to work each day (24.9%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
Also, our research revealed that more commuters here take the bus to work (17.4% ride the bus) than 98.2% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.
The University Village / Little Italy neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 32,502 persons per square mile in the neighborhood, it is more packed with people than 97.2% of the nation's neighborhoods.
In addition, the University Village / Little Italy neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 81.8% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
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 Ä¢¹½ÊÓƵ's analysis revealed that households in the University Village / Little Italy neighborhood have a highly unusual car ownership. 30.9% of the households in this neighborhood don't own a car at all. This is more carless households than Ä¢¹½ÊÓƵ found in 97.2% of U.S. neighborhoods.
Some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. Ä¢¹½ÊÓƵ's exclusive analysis reveals that 37.6% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 96.0% of U.S. neighborhoods, where the average American neighborhood has 13.7% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.
In addition, the University Village / Little Italy neighborhood has a greater percentage of children living in poverty (53.1%) than found in 95.2% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.
The University Village / Little Italy neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 95.0% of the neighborhoods in America. In fact, 70.1% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Did you know that the University Village / Little Italy neighborhood has more Arab and Lebanese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.9% of this neighborhood's residents have Arab ancestry and 1.3% have Lebanese ancestry.
University Village / Little Italy is also pretty special linguistically. Significantly, 7.3% of its residents five years old and above primarily speak Arabic at home. While this may seem like a small percentage, it is higher than 99.2% of the neighborhoods in America.
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. Ä¢¹½ÊÓƵ's research has revealed some interesting things about the rootedness of people in the University Village / Little Italy neighborhood. In the University Village / Little Italy neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 95.5% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
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 University Village / Little Italy 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 67.6% of U.S. neighborhoods. With 53.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 95.2% of U.S. neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the University Village / Little Italy neighborhood, 70.1% of the working population is employed in executive, management, and professional 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 16.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.2%), and 3.9% in manufacturing and laborer 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 University Village / Little Italy neighborhood is English, spoken by 50.1% of households. Other important languages spoken here include Spanish, Arabic, Langs. of India and Chinese.
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 University Village / Little Italy neighborhood in Chicago, IL, residents most commonly identify their ethnicity or ancestry as Asian (24.6%). There are also a number of people of Puerto Rican ancestry (10.5%), and residents who report Italian roots (6.3%), and some of the residents are also of German ancestry (6.0%), along with some Arab ancestry residents (4.9%), among others. In addition, 36.3% of the residents of this neighborhood were born in another country.
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 University Village / Little Italy neighborhood spend under 15 minutes commuting one-way to work (32.8% of working residents), one of the shortest commutes across America.
Here most residents (33.4%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (24.9%) and 17.4% 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.
