Rogers Park "Bi-Polar"
YoChicago cites an interesting study today, in which Chicago's Rogers Park neighborhood is named an "emerging low-income" neighborhood. Gee, you mean in spite of Alderman Moore's cafes and restaurants springing up "everywhere you look?" Yes, in spite of...
Metro Chicago Information Center has produced a report analyzing the changing economic fortunes of Chicago's 77 community areas. Based on residents' income, the three-decade analysis of U.S. Census data measures which neighborhoods are getting richer, which are getting poorer and which are becoming "bipolar" - with a growing gap between rich and poor. The report also determines that 19 neighborhoods are models of "stable diversity."
The areas getting richer, which the report calls "emerging high-income," are not surprisingly clustered near downtown and the North side. But there are exceptions, such as Chatham and Morgan Park. The "emerging low-income" neighborhoods include Rogers Park, Avondale and Pullman. Full Article...
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Interesting article.
ReplyDeleteYou forgot to mention however that the data used to compile that report ended in 2000. So its a bit out of date and jars with the sheer number of condo conversions in Rogers Park since then.
Well done, Im sure Fox News would be proud.
I had the same thought as Mark. If you go to the report's 2000 data, you'll see the following:
ReplyDeleteHouseholds:
Low income -- 6,280
Moderate -- 3,885
High -- 2,227
Lakeside estimates that there were 3,600 condo conversions just between 2003 and 2006. Conservatively assume that half of those households moved from low to moderate, and half from moderate to high (and they define the median attached household price as $160K -- still a good price for a condo in RP), the numbers above would change as follows:
Low income -- 5,680 (-1,800)
Moderate -- 3,885 (-1,800, +1,800)
High -- 4,027 (+1,800)
It's pretty clear that the MCIC report is out of date. What's happening in RP is much more complex than these simple numbers, and it's not unequivocally good or bad, but there's no way to describe RP as "emerging low income" anymore. If anything it's bipolar or emerging high net worth.