Are you thinking of moving to Chicago real estate? We don’t blame you! There are many reasons to move to Windy City, including cultural attractions, outdoor spaces, yearly events, family-friendly vibes, and vibrant urban areas.
Let’s see the best Chicago neighborhoods for you to pick from when renting or buying a new home in Illinois.
Best 12 Chicago Neighborhoods Perfect for Good Living
Here are 12 of our favorite Chicago neighborhoods for good living. They’re all within 15 miles of downtown and feature a mix of housing options, amenities, transportation options, and more.
Lincoln Park
Population: 45,359
Median Income: $123,610
Median Home Price: $705K
Lincoln Park stretches between Lake Michigan and North Branch Chicago River and it’s one of the best Chicago neighborhoods. Its recent resurgence is due to the combination of historic buildings, young university students, ample activities, and proximity to downtown, Route 41, and Wrigley Field.
It’s easy to see why Lincoln Park ranks highly in terms of public schools, nightlife, diversity, family-friendliness, job availability, health and fitness options, and low commute times. Residents can access Lincoln Square, coffee shops, parks, bars, restaurants, and public school districts.
The trendy neighborhood offers a mix of suburban and urban vibes, with approximately equal numbers of apartment renters and condo/homeowners.
Lincoln Park is home to several prestigious schools, including Payton College Prep High School, Northside College Prep High School, Whitney M. Young High School, and Lane Tech College Prep High School.
Residents can enjoy nearby green spaces like Oz Park, North Pond Nature Sanctuary, Lincoln Park Zoo, and North Avenue Beach. They also live close to all the rich history in the Chicago History Museum, and unwind at the bustling North Clybourn Avenue shops and restaurants.
Regarding real estate, Lincoln Park has experienced a decrease in prices since last year, with most single-family homes selling for less than $520K. Most homes spent 68 days on the market before selling.
The housing market in Lincoln Park can be competitive, with some homes receiving multiple offers and hot homes selling for around the listing price. Despite slight fluctuations, the sale-to-list price ratio has remained 98.4% over the last three years.
There are homes for sale in Lincoln Park and the surrounding areas ranging from studios on Lakeview Avenue for $156K to multi-families on Armitage Avenue for $3M.
Overall, Lincoln Park’s location, amenities, schools, and housing options make it a highly desirable neighborhood in the Chicago area.
Gold Coast
Population: 15,176
Median Income: $108,925
Median Home Price: $560.9K
Gold Coast is a highly-ranked neighborhood in Illinois, renowned for its vibrant nightlife, family-friendly atmosphere, low crime rates, diversity, and numerous health and fitness opportunities. Most Gold Coast residents are students or young professionals, making it ideal for those seeking an urban lifestyle. The affluent neighborhood boasts several key features, including:
- The scenic coastline
- Route 41
- Oak Street Beach
- Latin School of Chicago
- Polish Consulate General
- Gold Coast Surgery Center
- International Museum of Surgical Science
- 3 Arts Club Cafe
- 360 Chicago Observation Deck
The primary school serving the Gold Coast neighborhood is Ogden Elementary School.
As for the real estate market, Gold Coast has seen a decrease in home prices over the past year, with the average home price dropping by 10.6%. Furthermore, most homes now spend an average of 155 days on the market.
The neighborhood experienced a 5% decrease from the previous year. The sale-to-list price ratio is 96.68%, meaning that homes sell for slightly less than their asking price.
Most single-family homes for sale in Gold Coast are located in the Gold Coast Historic District and are priced between $229K to $2M.
Gold Coast is an attractive, trendy neighborhood, offering numerous amenities and a thriving community. The area’s real estate market has seen a price decline, making it a potentially good time for buyers to invest.
Downtown Chicago
Population: 2,742,119
Median Income: $113,278
Median Home Price: $277.6K
Downtown Chicago is one of the most diverse areas in the entire country, boasting a mix of cultures and an exciting area for young professionals, families, and outdoors people to enjoy activities.
Downtown Chicago is a bustling enclave that features dozens of things to do and see, including:
- The Gay Village, a vibrant community of artists
- Restaurant row
- Mature tree-lined streets
- The Chicago Public Library
- The financial district
- High-rise apartment buildings
- Printers Row
- Randolph Street.
The main schools serving downtown Chicago are Payton College, Northside College, Whitney M. Young, Jones College, Lane Tech, Latin School of Chicago, North Shore Country Day School, North Park University, Roycemore School, and 735 other public schools in the city of Chicago.
Chicago features a balance between residents who rent properties and those who own their homes, with the average rent price coming to just over $1.2K per month. People who live in Downtown Chicago enjoy the growing economy, proximity to Lake Michigan, sports culture, culinary opportunities, and public transportation options.
The real estate market in Downtown Chicago shows a 5.9% decrease in housing prices since last year, with most homes selling after 107 days on the market. The median sale price has declined for all home types.
The downtown area comprises the Central Area, a 35-block ‘Loop’ in the center of town. This popular neighborhood currently has a wide range of properties, such as condos on the Magnificent Mile or single-family homes on the Chicago River.
Logan Square
Population: 72,724
Median Income: $76,558
Median Home Price: $525K
Logan Square is a welcoming neighborhood in Chicago with high ratings for nightlife, diversity, family-friendly atmosphere, outdoor activities, and commute times. Most residents here own their homes, making it a smart choice for young families and professionals. The majority of people who live here are liberals.The popular spots in Logan Square are:
- The 606 hiking area
- The Logan Theatre
- Logan Arcade bar
- Humboldt Park
- Comfort Station restaurant
- Illinois Central Monument.
The most common features of this neighborhood include Lane Stadium, DeVry University, Kindred Hospital Chicago, restaurants, markets, and Horner Park.
The real estate market in Logan Square has increased housing prices since last year (12.9%), with homes selling in 87 days on the market.
The median sale price has increased since last year, reaching $525K, with the sale-to-list price for all home types reaching 98.5%. The housing market here is competitive, with most homes selling for 1% below the list price and hot homes selling for 1% above the list price.
South Loop
Population: 24,343
Median Income: $109,634
Median Home Price: $271K
South Loop is an affordable neighborhood on the south side of Chicago that is one of the best places to lie in the bustling capital city due to its nightlife, diversity, plenty of coffee shops, restaurants, liberal views, and dense urban feel.
This neighborhood is rated as one of the top places for young professionals moving to the city and for young families. The famous South Loop in Chicago spots are:
- Field Museum
- Shedd Aquarium
- McCormick Place
- Glessner House Museum
- Soldier Field
- Adler Planetarium.
Schools serving this neighborhood are the British International School of Chicago, South Loop Elementary School, American Montessori Academy, OLd St. Mary’s School, and Chicago Virtual Charter School.
People love this neighborhood due to its proximity to dozens of Chicago parks (like Portage Park and Rainbow Beach Park), Lake Michigan, the Chicago River, Chinatown, McCormick Place, and Museum Campus.
The real estate market in the South Loop shows home prices are down 8% since last year, with most homes selling after 109 days on the market. The number of homes sold has significantly decreased, peeking in the middle of 2021 and steadily declining.
The housing market here is competitive, with some homes getting more than one offer and the average home selling for the list price.
The homes for sale in South Loop and the surrounding neighborhoods are mostly single-family homes for sale near Roosevelt Metro stop, 11th Street, and Soldier Field.
Lakeview
Population: 87,461
Median Income: $93,362
Median Home Price: $512.9K
Lakeview is a well-to-do neighborhood near Lincoln Park on the banks of Lake Michigan with a dense urban feel, numerous coffee shops, green spaces, and restaurants. This neighborhood is one of the top areas for young professionals relocating to the city.
Lakeview’s most notable attractions are The Vic Theatre, Music Box Theatre, Wrigley Field, The Mercury Theatre, Boystown, Gallagher Way, and Briar Street Theatre. This cultural center is excellent for young professionals who want to explore the city and meet other similar-aged people. Schools serving this area include:
- Harriet Tubman Elementary
- Bernard Zell Anshe Day School
- Chicago City Day School
- Hawthorne Scholastic Academy
- Horace Greeley Public School
- Inter-American Magnet School.
The Lakeview real estate market indicates a 2.6% increase in home prices since 2022, with most homes selling after 61 days on the market. Compared to last year, the number of homes sold has significantly decreased.
The housing market is considered competitive, with the average home selling for 1% below the list price in 60 days. The homes for sale in Lakeview and the surrounding areas are spacious dwellings with lovely vistas of Lake Michigan.
Streeterville
Population: 23,779
Median Income: $121,398
Median Home Price: $543.8K
Streeterville is ranked as one of the top five best neighborhoods in Chicago due to the number of young professionals and elderly couples who enjoy the ambiance and atmosphere. This neighborhood consistently ranks top in crime and safety, nightlife scene with several music venues, a bustling dining scene, diversity, family-friendly atmosphere, and outdoor activities.
The neighborhood is located near the Magnificent Mile, Dock Street, Near North Side, and the water, providing proximity to dozens of things to do in the city center.
The most notable features of this neighborhood are:
- The Navy Pier
- Lake Point Tower
- Museum of Contemporary Art
- NBC Tower
- Milton Lee Olive Park
- Polk Bros Park, Lake Shore Park
- Northwestern University Chicago Campus
- Northwestern Memorial Hospital
Schools serving this bustling neighborhood include Payton College Prep, Northside College Prep, Lane Tech, Jones College, Latin School of Chicago, British International School of Chicago South Loop, Francis W. Parker School, and many others. This neighborhood has a mixture of prep, public, and faith-based private schools.
The Streeterville real estate market shows a 0.97% decrease in home prices since last year, with most homes selling after 130 days on the market.
Andersonville
Population: 6,857
Median Income: $76,002
Median Home Price: $387K
Andersonville is a neighborhood west of Edgewater near Chicago that features coffee shops, restaurants, bars, antique stores, independent boutiques, commercial strips, access to culture, and ample Swedish heritage.
This great family-friendly area features a fun and versatile vibe ideal for families, young professionals, or retired couples.
Andersonville is consistently ranked as one of the top neighborhoods in Chicago due to its proximity to the bustle of downtown, nightlife, diversity, family-friendly activities, and outdoor-centric things to do.
People here enjoy the closeness to green spaces, Rogers Park’s tree-lined streets, highways, and the water.
There are plenty of schools serving this area, including the American Montessori Academy Andersonville, Lake Shore Schools, Chicago Waldorf School, Payton College Prep, Northside, Edison Regional Gifted Center, and many others.
The most notable features of Andersonville include the following:
- Andersonville Galleria gift shop
- Hopleaf gastropub
- Swedish American Museum
- Alleycat Comics
- The Brown Elephant
- Little Bad Wolf restaurant
- Lady Gregory’s Irish Bar
Andersonville is located conveniently by Edgewater, Winnemac, Route 41, Rosehill Cemetery, Rogers Park, and Berwyn metro stop.
The Andersonville real estate market shows a 27.3% decrease in housing prices since last year, with most homes selling for under $400K. The majority of houses here sell after nearly 80 days on the market.
Marina City
Population: 22,507
Median Income: $31,142
Median Home Price: $850K
Marina City is an impressive residential building complex situated on the northern bank of the Chicago River in the bustling downtown area near the Loop. The complex comprises two striking towers, each towering 65 floors high, and a 10-story office building.
Initially built for residential purposes, Marina City evolved over the years and transformed into a multi-purpose complex that hosts a range of activities to cater to residents and visitors alike.
Today, Marina City’s diverse offerings include a concert hall, a luxurious hotel named Hotel Chicago, Bowling Lounge, and not just one but four unique restaurants to satisfy any craving.
The complex’s exceptional architectural design, which was way ahead of its time, can’t help but command attention, and the location makes it an even more attractive destination. Visitors will be impressed by the magnificent structures and the stunning views of the river and the city.
Plus, there are great services and amenities inside to make their stay or visit all the more enjoyable.
People relocating to Chicago can’t miss a chance to marvel at this iconic building complex. One of the unique things about Marina City is its proximity to some of Chicago’s major landmarks, such as Michigan Avenue and Navy Pier, making it easily accessible.
To summarize, Marina City is more than just a residential building complex. It is a true gem of Chicago that offers a one-of-a-kind experience, from the finest cuisine to culture and entertainment. All in all, a must-visit complex when exploring the Windy City.
Hyde Park
Population: 27,517
Median Income: $74,032
Median Home Price: $202K
Hyde Park is one of the city’s most vibrant neighborhoods in Southern Chicago. It is known for its urban feel, trendy restaurants, public parks, shopping destinations, and bustling club scene, attracting young families and professionals alike.
Hyde Park is renowned for its residents’ liberal views and proximity to important landmarks, businesses, and schools.
One of Hyde Park’s most notable features is its accessibility to major roadways, such as the Route 41 highway. Additionally, the neighborhood boasts easy access to cultural institutions like the Museum of Science and Industry and the University of Chicago Oriental Institute.
Hyde Park Shopping Center, University Village, and Michigan Avenue are just a few minutes away for entertainment and shopping opportunities.
The natural beauty of this neighborhood is enhanced by Midway Plaisance, Jackson Park, Washington Park, Kenwood Park, and Nichols Park, providing an ideal atmosphere for outdoor recreation.
Hyde Park is also a hub of various educational institutions like:
- The University of Chicago
- William H Ray Elementary School
- The Ancona School
- University of Chicago Laboratory Schools
- Hyde Park Academy High School
- Hyde Park Day School.
Providing quality educational institutions is essential for parents when selecting a residential area.
The Hyde Park real estate market has witnessed a 4.1% decrease in home prices. Despite this decrease, the median home price has remained steady, with the current listing price at $275K and the current sold price at $202K.
Homes for sale in the area typically change hands after spending under 100 days on the market, indicating a healthy balance of supply and demand. The sale-to-list price ratio of 96.64% highlights the neighborhood’s balanced market and steady price points.
Hyde Park provides various housing options for those looking to make the neighborhood their home, with currently hundreds of homes for sale. Most of these homes are multi-family buildings located in the northern part of Hyde Park.
With accessible transit options and a thriving local economy, the Hyde Park neighborhood is attractive for those looking to settle in the city.
West Loop
Population: 27,720
Median Income: $130,196
Median Home Price: $379,804
West Loop in Chicago consistently ranks in the top 3 neighborhoods to move to in Chicago due to its proximity to downtown, the water, and highways.
This is a very walkable neighborhood, making it a smart choice for young professionals, families, and expats to move to when it comes to exploring a new city. Some of the biggest attractions and features in the West Loop include:
- The WNDR Museum,
- Skydeck Chicago observation deck
- Willis Tower
- Bottom Lounge
- Notre
- Aire Ancient Baths, Union Park
- Garfield Park
Residents who lie in West Loop find they enjoy living here due to the convenience factor. This is right in the middle of all there is to do and see in the city. The West Loop is located next to downtown Chicago, making walking to work every day easy.
Plus, the West Loop features a unique dining scene, boutique hotels, galleries, and hipster cafes.
Some public schools in the West Loop include Wells Community Academy, Noble Chicago Bulls College Prep, Mark Skinner Classical School, Ogden International School, Chicago Charter School, and many others.
The real estate market in West Loop indicates the housing market is pretty even but has declined in recent months and years.
The average home sale price has decreased by 0.89% since last year, with most homes selling after nearly 66 days. Most homes sell for 1.6% over the list price, meaning the market is competitive.
There are homes for sale in West Loop and the surrounding areas for every type of homebuyer. Most homes on the West Loop are located near the University of Illinois Chicago, Madison Street, UIC Halsted metro stop, and Route 90-94.
River North
Population: 33,787
Median Income: $99,866
Median Home Price: $459.3K
If you’re an art lover or want to explore all of Chicago’s cultural attractions, River North is one of the top neighborhoods, with a thriving arts community.
This trendy and artistic area boasts numerous art galleries, cultural centers, museums, historical buildings, green spaces, and public areas that will keep you entertained and immersed in the city’s vibrant culture.
Located near the Museum of Contemporary Art, Irving Park, Albany Park, North Park, Gold Coast, Route 90-94, and the Cabrini Green neighborhood, River North is conveniently accessible and easily explorable.
One of the key draws of the area is the plethora of restaurants, bars, and entertainment options, such as:
- The Tortoise Supper Club
- House of Blues
- Bar Goa
- TAO Chicago restaurant
- Redhead Piano Bar
- LIVA at Chicago Winery
The historic Richard H. Driehaus Museum and the impressive Art on the MART video projection installation are also nearby.
River North offers plenty for tourists and locals seeking even more cultural experiences. Explore the Riverwalk, visit the Art Institute of Chicago or the Museum of Contemporary Art, peruse the Architech Gallery, and admire the architecture of the Assumption Church.
In terms of education, River North is home to a wide range of schools, including the American Montessori Academy South Loop, Fifty City Child Development, Ogden International School, and Chicago Grammar School, among others.
The real estate market offers promising opportunities if you consider relocating to River North. While the median home price has fallen 9% since last year, making it a buyer’s market, homes still tend to sell within 70 days of being listed, and over 100 homes selling in one month alone.
The homes for sale in the River North neighborhood and surrounding areas indicate a healthy and active housing market.
Frequently Asked Questions: Chicago Neighborhoods
There are many commonly asked questions about Chicago regarding finding the best neighborhood to move to. Let’s check out a few answers to help put your mind at ease.
Does Chicago have any big employers?
Yes, Chicago has several big employers. Some of the largest employers in Chicago include the City of Chicago, the Chicago Public Schools, the University of Chicago, Walgreens, Boeing, United Airlines, and Advocate Health Care.
Other major employers in Chicago include the federal and state governments, various banks and financial institutions, and numerous corporations across various industries.
What neighborhood is the most historic in Chicago?
The most historic neighborhood in Chicago is the Loop. Located in downtown Chicago, the Loop has numerous theaters, including the Cadillac Palace, Oriental Theater, and the Harris Theater for Music and Dance.
The area was also home to the first skyscraper, Home Insurance Building. Other notable spots include Millennium Park (home to the iconic Cloud Gate Sculpture), Willis Tower, and the Art Institute of Chicago.
How does the cost of living in Chicago compare to other cities?
When comparing the cost of living, it is essential to note that Chicago, IL has a higher cost than the state and national averages. Specifically, it is 31% higher than the state average and 20% higher than the national average.
Regarding housing, Chicago is 52% more expensive than the national average. However, when it comes to utilities, they are slightly less expensive, coming in at about 3% lower than the national average.
Where is the best place to live in Chicago?
Multiple locations are considered ‘best’ based on personal preferences, age, price range, and jobs. Some of the nicest neighborhoods are considered Streeterville, River North, Gold Coast, and The Loop since they are very safe and close to the downtown business district.
What is the safest part of Chicago?
Edison Park is widely acknowledged as one of the safest neighborhoods in Chicago. Its crime rate is 77% lower than the city’s overall rate, which makes it a reassuring sight on any list of secure areas.
Those seeking a secure environment in the city are increasingly turning to Edison Park for its low crime rate and peaceful atmosphere.
What is a comfortable salary to live in Chicago?
Most Chicago residents need to make at least $65K to live comfortably and within their means in most areas of the city. The study is based on the cost of living, including the price of food, housing, salary, medical care, utilities, and transportation.
Currently, the median income in Chicago is just over $58K. To live comfortably in a one-bedroom apartment in most areas of Chicago, most people would need at least $43K.
Is moving to Chicago a good idea?
Chicago is ideal for young professionals, couples starting a family, families with young children, and retired couples. The booking economy offers numerous job opportunities.
Housing prices are reasonable, and there are cultural attractions, indie boutiques, high-rise buildings, record shops, parks, outdoor spaces, restaurants, shops, and cafes.
What is the best Chicago suburb to raise a family?
When considering the best Chicago suburb to raise a family, Clarendon Hills and Long Grove are both viable options. Clarendon Hills, located just 20 minutes outside the city center, boasts high-end public schools and safe neighborhoods.
The community spirit is strong, with a downtown district featuring various restaurants, boutiques, cafes, and parks. On the other hand, Long Grove offers ample outdoor recreation opportunities with its nature preserves and parks.
Is it cheaper to live in NYC or Chicago?
When comparing the cost of living between New York City and Chicago, the latter proves to be the more affordable option. In fact, New York City is 85% more expensive than Chicago, with costs that are 129% higher than the national average.
Therefore, individuals seeking a more budget-friendly lifestyle may want to consider residing in Chicago.
Final Thoughts
Moving to Chicago can be stressful and time-consuming. Luckily, we have researched for you to find the best Chicago neighborhoods that can work for your unique needs. Whether you want a family-friendly vibe or proximity to the downtown district, we are confident there is an area you will love. Check out local properties in the neighborhood that stand out to you. Contact a local eXp agent today to get started!
