Compared to places across the country, Chicago’s a pretty affordable city to live. Of course, that’s not to say our city doesn’t have its own housing issues such as the loss of two-flats and gentrification. But all in all, most residents can find plenty of space for a good price. A recent ranking from the brokerage and listing site Redfin underscores one neighborhood in particular.
Chicago’s McKinley Park tops Redfin’s list for “hottest affordable neighborhood” in the country for 2019. Ahead of mostly Baltimore and Philadelphia locations, its median home sale price comes in at around $270,000. Only 35 percent of homes sold above the list price here.
McKinley Park is a small Southwest Side neighborhood surrounded by two vibrant, tight-knit communities: Pilsen to the north and Bridgeport to the east. Pilsen’s reputation as “one of the trendiest neighborhoods in the country,” Redfin says, means some people are getting priced out which makes nearby McKinley Park an ideal home.
The area has a beautiful 70-acre park with a historic field house, outdoor pool, gymnasiums, athletic fields, and nature paths through lagoons. Transportation is convenient too with the Stevenson Expressway and the Orange Line nearby.
Redfin also released predictions for the coming year about what neighborhoods would become the hottest regardless of price. When examining the trends in metro areas, predictions for Chicago’s hottest ‘hoods were McKinley Park, East Garfield Park and Norwood Park. The site’s predictions are based on agent insights and data that indicates interest from homebuyers.
So, would you purchase property in these neighborhoods? What other areas can you find a family home for under $300,000?