The United States’ third most populous city, Chicago, also known as Chicagoland or the windy city, bolsters a powerful economy, unparalleled architecture, good quality living standards, and nature at its best with an amazing lakefront, all of which make life in Chicago a very good life indeed.
If you’re planning to move to Chicago, the options are endless and can seem overwhelming. Where do you start? Find the neighborhoods that residents have fallen in love with while also keeping an eye on the average real estate values. We’ve made this task easier for you and compiled a list of the six best neighborhoods to explore for your next home.
1. Printers Row:
A small neighborhood with a population of 9209, Printers Row makes it to the top of the Chicago area’s great places to live, buy a home, and raise a family. The median home value this year is $299,000, while the median rent is $2156. The intimate parks offer its residents a stroll that makes them forget the bustling Chicago city-lifestyle. Printers Row also has some great historic architecture. This charming neighborhood has made permanent residents of its visitors and continues to be on the up and up.
2. Edison Park:
The real estate market of Edison Park is skyrocketing, with the median home value now being $400,000. You’d expect more people to live in rented homes with these prices, but 80% of the properties are owned. This safe, clean neighborhood has attracted those whose American dream is a quiet, suburban one. Edison Park’s residents boast about its family-oriented community and a safe environment for raising kids.
3. Beverly:
With the median home value at $330,000 in 2022, Beverly has a population of 19,000+ residents, and 83% of them own their homes. A significant percentage of the population is currently enrolled in college or pursuing post-graduate studies. There are tons of recreational activities to do in Beverly. For instance, check out some great art, go biking, or have a picnic in its range of parks. One thing is for sure: Beverly is a goldmine for those who want a peaceful city-life instead of one filled with thrills.
4. Lake View:
The average median home value in this neighborhood is currently over $400,000, and the median rent is around $1500. Most people here rent, due to the mid 6-figure prices on ownership, but the home values are justified. With a great urban vibe to the overall neighborhood, residents of this area love the walkable nature of Lake View, its accessible public transit, the fantastic dining options it has, and its various shopping areas.
5. West Loop:
Another neighborhood that exceeds the national home median value by almost $200,000, the average home value in this area is above $400,000. This area is ideally located right between Greektown and downtown Chicago, making it one of the most highly sought-out neighborhoods in the Chicago area. West Loop is more popular with young adults rather than families or retirees and has especially amazing dining and nightlife options.
6. Sauganash/Forest Glen:
This neighborhood has one of the highest percentages of owned homes – 91%! Not the best place for renters, but homebuyers could potentially find their next dream home here at an average median home value of $462,000. A perfect balance between city life and suburban life, it’s another great option for families. The spotlight of this area is all on the woods. Dive into nature or a rich, cultural experience while living in Sauganash/Forest Glen! Downtown is only 15-minutes away in a car, so you’re never too far from the party.
