Chicago has many diverse neighborhoods. 78 to be exact! Each with its own distinct vibe that welcomes people from all over the world. And as the economic powerhouse of Illinois, it provides many opportunities for career growth, education, and recreation.
Finding the right Chicago neighborhood can be challenging. You can choose from scenic lakefront views, iconic skyscrapers, prairie-style architecture, and abundant green spaces. Chicago offers a high standard of living, including a wide variety of attractions and amenities that are uniquely Chicago.
But not all Chicago neighborhoods are the same. Given the notorious high crime rates in Chicagoland, how do you find which place to move into?
How to choose which places to move into Chicago?
Chicago has always been popular as it offers culinary and cultural diversity, active sports culture, and high economic potential.
When choosing which place to move to, we consider these factors: affordability, education, safety, local economy, amenities, and the job market.
Disclaimer: I am a licensed real estate agent and I am by no means steering you in any direction. I am simply compiling all my research together to make it more convenient for you.
Now let’s get down to business.
Here are the best places to live in Chicago!
1. Lincoln Park
Lincoln Park is one of the most popular neighborhoods to move into Chicago. It boasts stunning historic architecture, an active music scene, and green spaces aplenty.
Its 71,954 residents earn an average household income of $183,888 and live in homes with a median value of $639,100. Homes include stunning brick and stone townhouses, and Victorian mansions.
All in all, Lincoln Park is a haven for families and young professionals.
2. Lakeview
Lakeview encompasses several different communities and neighborhoods, including Wrigleyville and Boystown. It is home to 61,765 residents with an average household income of $135,100.69 and a median home value of $417,300.
Lakeview comprises two suburbs. Wrigleyville has amazing bars and restaurants. And Boystown is an LGBTQ-friendly district.
3. Logan Square
Logan Square is an eclectic neighborhood with dive bars, art galleries, coffee shops, and cocktail lounges. The music scene is booming and showcases under-the-radar bands and experimental sounds.
Logan Square is home to 87,633 people earning on average $109,728. Most residents rent and spend an average of $1,533 a month on housing.
For commuting, the Blue Line links you to the Loop. And buses on Fullerton and Diversey can carry you east to Lincoln Park and the lake. You can also walk, bike, or drive a car to get around.
Want to move to this eclectic neighborhood? The median home price here is $412,300.
4. West Loop
Are you a foodie who is also a white-collar young professional? You should consider moving to the West Loop. It has luxury loft condos, trendy bars, and world-class restaurants galore.
West Loop’s 6,967-strong population earns an average of $162,561.44. Like the Loop, most residents rent with the median monthly housing cost of $2137. The rest own homes with a median value of $402,200.
The West Loop is next to other more established neighborhoods. So you can access some of the top public schools and private schools in Chicago.
5. The Loop
Why is the Loop called the Loop? It's because of the L, which forms an elevated rectangular loop around the area.
The Loop is home to the financial district and high-rise offices. There are only 10,519 residents here earning an average of $184,924.58. Most of them rent and spend the median monthly housing cost of $2,327. If you want to own your own home here, save up for the median home price here of $552,550.
Most Loop residents are young professionals with no children. So there aren’t any public schools within walking distance.
But you won't ever get bored here. You can visit the Art Institute of Chicago and Lyric Opera. Watch Broadway in Chicago theater performances. And many more!
6. Streeterville
Streeterville is home to 33,224 people of predominantly white-collar work. Households here earn an average of $174,240 and live in homes with a median value of $576,600.
There are many things to admire as you walk through this community. These are gift shops, restaurants, cafes, bars, amusement rides, museums, and live music. Aside from walking, you can travel by car, bus, taxi cab, bike, or the Subway train.
It is home to world-renowned cultural attractions, universities, medical facilities, and hotels. Streeterville is also notable for its residential high-rises and proximity to Lake Michigan. The close-knit community has an energetic atmosphere. And you can live with exceptional lake and river views.
7. Wicker Park
Wicker Park blends old charm with modern conveniences. Here you will enjoy lively nightlife and beautiful greenery. Visit its unique local bookshops, cafés, art galleries, and cocktail bars.
Wicker Park is home to 53,294 people, mostly young professionals and families. They earn an average household income of $136,956. And their homes have a median home value of $540,800.
For public transit, there’s the Blue Line stop at six corners. The Western and Division stops on the edges, and the North Ave bus if you’re heading east.
8. Pilsen
Are you a fan of Mexican food, art, and culture? Pilsen would make an excellent choice for your move. Its 80,059 residents enjoy an average household income of $68,604 and a median home price of $257,000.
You can enjoy going to Thalia Hall, a landmark building that hosts some of the city’s hottest bars and venues. Find street vendors selling delicious tacos and elotes. Dine in restaurants with live music, and cozy local coffee shops. Famous street artists adorn buildings with gorgeous murals. This occurs especially during the many art events here. You can also visit the National Museum of Mexican Art for free. And admire the 10,000-piece collection of Mexican art and culture.
9. Old Town
It is near downtown Chicago, has rich historical appeal, and has low crime rates. It is home to 40,548 people with an average household income of $148,944.
Here corporate employees can walk to work, and dine in fine restaurants nearby. Properties here are often filled with interesting architectural details. Here you can visit St Michael’s Church, one of only seven buildings to survive the Great Chicago Fire of 1871. And go to the world-famous comedy club The Second City, and the original Nookies diner.
Old Town's median home price is $519,000.
10. Hyde Park
Do you love green spaces? Then you will love the quaint neighborhood of Hyde Park. Many call it the greenest neighborhood in Chicago. It is home to 29,456 people with a median household income of $55,377 and median home prices at $245,000.
It’s a haven for history lovers, nature lovers, and students. Hyde Park is on the shores of Lake Michigan. So you can enjoy beautiful views and easy access to the 18-mile lakefront running and biking path. It hosts the site of the 1893 World’s Columbian Exposition, otherwise known as the Chicago World’s Fair. Other attractions include Frank Lloyd Wright architecture and Barack Obama’s former house.
Hyde Park is also home to the University of Chicago. So university students form a large part of the population. Aside from student housing, there are mansions, condos, and apartment buildings. For commuting, there are two Metra stops towards the lake and a Red/Green Line stop just across Washington Park in addition to bus routes.
Conclusion
Chicago is a diverse city with many dynamic neighborhoods. Each neighborhood has its own distinct culture which attracts people from all over the world. And when I mean all over the world, I mean it. The Windy City is a melting pot of cultures from Italian to Mexican, Chinese to Dutch, and many more.
As a homebuyer and investor, searching for the right place to move into can be a challenging process. You consider your budget, educational prospects, the local economy, and of course, safety. But don’t worry, you’ve got the Nex-Gen Real Estate team to offer you expert assistance.
Chicago neighborhoods are dynamic and diverse, with many different things to offer residents, new and old. If you plan well and do your due diligence research, you can find the right neighborhood for you. Use this article as a guide as you plan your move.