A 19% increase in Chicago rentals places this city among the nation’s most expensive places for renters. So, as the real estate market starts to cool, buying a home is an ever more attractive option.
Whether you plan to move to Chicago or buy a home to rent to others, your first step is finding a good area to buy property.
These are the best Chicago neighborhoods for buying a home or investment property.
West Town and Wicker Park
This eclectic, artsy neighborhood is one of the most diverse places to live in Chicago. It’s a hip, up-and-coming place filled with classic record stores, art galleries, boutiques, and craft cocktail cafés.
Trendy hipsters, business professionals, and creative people flock here for the bustling Brooklyn vibe, internationally-flavored amusements, and authentic eateries.
This is one of the most affordable places to live while maintaining easy access to the Chicago CBD. As such, it attracts large numbers of renters.
Streeterville
Streeterville is one of the city’s most popular Downtown neighborhoods.
It attracts both long and short-term rentals thanks to its location on Lake Michigan. Here, residents enjoy stunning sunrises, fresh lakeside breezes, and the enigmatic Navy Pier.
This Chicago landmark is abuzz with museums, live music venues, restaurants, and sports facilities for all ages.
Thanks to its accessible location, Streeterville is one of the best Chicago neighborhoods for renters who work in the city. Especially those who love a bustling urban environment with ample natural spaces.
Lincoln Park and Old Town
This upmarket, highly desirable neighborhood epitomizes luxury living in Chicago. As such, it attracts many young professionals wanting to settle down into family life.
Located on the scenic lakefront, just a mile from Chicago’s downtown attractions, these neighborhoods boast acres of green space and recreational activities.
Chicago’s top beaches, museums, and sports facilities are nearby. Thanks to a 5-star walkability rating, Lincoln Park and Old Town are top choices for outdoor-loving families.
This is one of the best Chicago neighborhoods if you want to enjoy a bustling nightlife scene, a variety of housing options, and excellent restaurants. Thanks to this, it’s one of the pricier areas in town.
Affordable Chicago Neighborhoods
If you’re a first-time property investor, these affluent neighborhoods might be a little out of your reach. Yet, there are many affordable neighborhoods in the area with lower prices and high demand.
These include:
- Englewood and West Englewood
- Uptown
- Rogers Park
- Logan Square
- Humboldt Park
In these neighborhoods, older homes in need of a little TLC are commonplace and well-priced. View more on URB Chicago, Zillow, and Redfin for insights into Chicago’s fix-and-flip investment property market.
Stay Up to Date With Real Estate Trends
These are among the best Chicago neighborhoods to start your search for investment properties in Illinois or embrace Chicago living at its finest or most affordable.
Real estate trends come and go, but you can’t go wrong with expert advice from a seasoned pro.
Great advice is always best when it’s backed by real-life experience. Browse our online magazine for first-hand insights on the latest property and lifestyle trends.
