The 10 Richest Neighborhoods in Chicago

Forest Glen

Chicago may have a bad reputation when it comes to crime, but no one can deny that it’s got some great neighborhoods. Choose the right one, and you’ll be blessed with all the benefits of big city living, with precious few of its downsides. The bad news? None of that comes for free. What Chicago’s best neighborhoods lack in gun crime and drug trafficking, they make up for in huge median home values and a cost of living that’ll make your jaw drop. If you dream of consorting with some modern-day Rockefellers, you might want to check out these ten richest neighborhoods in Chicago.

Mount Greenwood

10. Mount Greenwood

Mount Greenwood is blessed with a good selection of amenities, a fine collection of accommodation options, good schools, pretty parks, and some outstanding eateries. Sound like your kind of neighborhood? Then get ready to dig deep…. but not too deep. While the median home value of $224,582 is still around $20,000 higher than the median home value for Illinois, it’s still notably less than it is in some of Chicago’s other richest neighborhoods – something that comes as something of a surprise when you learn that most of the neighborhood’s residents are sitting pretty on a household income of just under $90,000 a year.

Near North Side

9. Near North Side

If you want to live in a safe, pleasant neighborhood with plenty of amenities, green spaces, and recreational opportunities, you’d do well to consider Near North Side. But before you do, take a good, long look at your payslip. To blend in with the rest of the neighborhood’s residents, you’ll need to be earning upwards of $97,000 a year. You’ll also need to be able to take the median home value in your stride – something that may sound easy enough to do, until you learn most single-family homes here sell for a whopping $434,335.

Loop

8. Loop

Loop is a neighborhood of 32,384. With a figure that sizeable, it’s fair to assume that not every member of the neighborhood is rolling in cash. However, there are enough that are to put its median household income at an enviable $98,220. As is so often the case, the high incomes go hand in hand with high property prices – if you want to make Loop your next home, expect to part with around $331,150 for a single-family home.

Beverly

7. Beverly

In comparison to some of Chicago’s other richest neighborhoods, a home in Beverly is relatively affordable. Although there’s plenty of million-dollar residences to consider, there are enough options on the lower end of the scale to keep the median home value at a reasonable $289,660. But don’t be fooled. Unless you want to stick out like a sore thumb, you’d better be pulling in a decent income. Most residents here are earning an average household income of $99,102, a figure that easily makes it one of the most exclusive areas in the city.

Edison Park

6. Edison Park

Edison Park is serene, safe, blessed with some great local businesses, plenty of green spaces, and a history that’s among the most distinguished in the city. As you’d expect, none of that comes for free. While the median property price of $345,364 is by no means the highest in the city, you’ll still need to have a serious chat with your bank manager before moving in. Fortunately, you won’t have too many problems in making your mortgage payments (at least if you’re anything like the average Edison Park resident) thanks to a median income that sits just below the $100,000 mark.

North Centre

5. North Centre

According to Home Snacks, the average household in North Centre is earning the stonking annual income of $99,384. In fairness, they’d need to be – living in North Centre might be nice and lovely and all kinds of wonderful, but it’s certainly not cheap. If you intend to buy a single-family home here, you can expect to come out of the deal $545,871 poorer. Fortunately, the high cost of living is compensated by an equally high standard of living. Lucky residents can expect a score of first-class eateries, chic little boutiques, a tiny unemployment rate, and an even tinier crime rate.

Gold Coast

4. Gold Coast

Considering its name, you wouldn’t expect the Gold Coast neighborhood of Chicago to be anything but stinking rich. And indeed, it’s not. The historic district was developed in the 1880s by millionaire Potter Palmer, who kicked things off by building the 42 room, castle-like construction known as Palmer Mansion. Other wealthy Chicagoans followed his example and started flocking to the new neighborhood, quickly turning it into one of the most desirable zip codes in the city. Today, its elite status is still very much intact – if you want to feel at home here, you’d better have a couple of million stashed away in your bank account.

Lincoln Park

3. Lincoln Park

If one of the richest people in Chicago decides to invest $22 million in building a 7200 square foot mansion in a particular area of the city, you can take it as read that not only is that neighborhood one of the wealthiest in the city, it’s also one of the most desirable. As dreamtown.com writes, that’s exactly what billionaire Joe Mansueto, CEO of Morningstar Inc., proved when he built “Morningstar Mansion” in Lincoln Park. He’s not the first rich man to move into the neighborhood, and he’s unlikely to be the last. As of 2021, the median household income is a whopping $99,720.

Streeterville

2. Streeterville

According to point2homes.com, the average household in Streeterville is bringing in the very respectable median income of $106,906. As we’ve got no reason to doubt them, we’re going to say that alone is enough to make Streeterville one of the wealthiest neighborhoods in Chicago. Thanks to a median home value of $576,600.00, it’s also one that’s well out of our league.

Forest Glen

1. Forest Glen

Forestglenchicago.org describes Forest Glen as “a gem of a neighborhood” that “boasts the convenience of the city with the peacefulness of the suburbs and the neighborliness of the country.” They might be right. But what they’ve neglected to mention is that anyone who chooses to live here should be prepared to spend a big chunk of their income on accommodation. The median home price is a hefty $421,818. Rental properties are few and far between (the community contains just over 500 households, the vast majority of which are single-family homes), and even if you do find one, the monthly rental cost is likely to floor you. Fortunately, most residents are earning enough money ($112,032 per year per household, by the latest reckoning) not to have to worry.


Add Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Flying
20 Things You Didn’t Know about Wisk Aero
Sipho Maseko
10 Things You Didn’t Know About Sipho Maseko
Avi Meir
10 Things You Didn’t Know about Avi Meir
John Donahoe
10 Things You Didn’t Know about John Donahoe
Greenlight Debit Card
20 Things You Did Not Know about Greenlight
NFT Market
The Top Five NFT Marketplaces Out Right Now
Activist Investors
What Exactly is Activist Investing?
Apple Products
Five Stocks That Most Billionaire Investors Own
Hiking Tahiti
A Traveler’s Guide to Hiking in Tahiti
NOTaBLE
The 10 Best Restaurants in Calgary, Canada
Hyatt Regency Calgary
The 10 Best Hotels in Calgary, Canada
Montevideo, Uruguay
The 20 Best Places to Live in Latin America
The 10 Best Pontiac Firebird Models of All-Time
Why Did They Stop Making The Pontiac GTO?
What to Look for in a Used Buick Enclave
Best Buick SUV Models
The 10 Best Buick SUV Models of All Time
Hermes Klikti watch 17 x 16 mm
The Five Most Expensive Hermes Watches Money Can Buy
Louis Vuitton Tambour Daimer Cobalt Blue And Gold Chronograph 46
The Five Best Louis Vuitton Watches Money Can Buy
Chopard Alpine Eagle Ladies' Small
The Five Finest Gold Chopard Watches
Chopard
The Used Chopard Watch: A Buyer’s Guide
Kit Harington
How Kit Harington Achieved a Net Worth of $14 Million
Anil Ambani
How Anil Ambani’s Net Worth Crumbled to Almost Zero
How Toby Fox Achieved a Net Worth of $3 Million
Pedro Pascal
How Pedro Pascal Achieved a Net Worth of $10 Million