Cheapest Neighborhoods in Chicago

By PropertyClub Team
May 21st 2023
The cost of living in Chicago can be challenging to cope with, especially with inflation still running high in 2023. But this list of the eight cheapest neighborhoods in Chicago will help you become an expert on the most affordable areas within the city.

hash-mark8 Cheapest Neighborhoods in Chicago

  1. Pilsen
  2. Bridgeport
  3. Bronzeville
  4. Humboldt Park
  5. Uptown
  6. Albany Park
  7. Portage Park
  8. Rogers Park

hash-mark1. Pilsen

The cheapest neighborhood in Chicago is Pilsen. Located roughly three miles southwest of downtown, Pilsen is a culturally rich and artistic neighborhood with about 34,000 residents. Known for its vibrant street art, Mexican heritage, and bustling community, this area features a mix of affordable apartments, historic buildings, and artist lofts. 

Favorite amenities here include a diverse range of dining options, unique shopping districts, and a vibrant cultural scene. With home values averaging $361k, Pilsen is the overall cheapest neighborhood close to the heart of Chicago.

hash-mark2. Bridgeport 

Bridgeport is also one of the most affordable neighborhoods in Chicago. Situated about 4 miles south of downtown, Bridgeport is a historic neighborhood known for its working-class roots and rich baseball history. It is home to the Chicago White Sox, one of the oldest Major League franchises in the country, making it the perfect living situation for sports fans. 

Additionally, residents of Bridgeport can also enjoy a wealth of local parks, restaurants, easy access to downtown, and a strong sense of community. With some of the most affordable single-family homes, townhouses, and apartments in the city, Bridgeport is universally considered the second-cheapest place to live in Chicago.

hash-mark3. Bronzeville

Located on Chicago’s South Side, Bronzeville is another one of Chicago’s cheapest neighborhoods. A historically significant area with a rich African American cultural heritage, Bronzeville is a great location for those interested in diversity. 

This affordable neighborhood showcases beautiful architecture, including Victorian-style houses and greystones, and offers a range of affordable housing options, such as apartments, condos, and some single-family homes. It also provides convenient access to both downtown and Lake Michigan, making it ideal for commuters. With home values averaging close to $266k, Bronzeville is another essential part of Chicago’s cheapest neighborhoods.

hash-mark4. Humboldt Park

Humboldt Park is an affordable Chicago neighborhood that is situated roughly seven miles northwest of downtown. Home to about 55,000 people, this neighborhood is popular for its affordability and diverse community. 

The neighborhood’s namesake, Humboldt Park, is a sprawling green oasis that hosts numerous cultural events and helps foster a sense of community within its residents. The area features a mix of living situations, including apartments, condominiums, and some single-family homes — all of which are much more affordably priced than the homes of downtown. 

hash-mark5. Uptown

Situated on Chicago’s North Side, Uptown provides affordable living in close proximity to downtown. Only eight miles from the heart of Chicago, this neighborhood is popular among commuters and offers a wide selection of housing options. From vintage apartments to condos and some single-family homes, Uptown provides enough variation to suit a variety of residents. 

This array of architecture helps maintain a diverse community, as do other local venues like the historic Riviera Theatre. With bustling entertainment options and easy access to Lake Michigan, it’s surprising that home values in Uptown average at only $282k.

hash-mark6. Albany Park

Albany Park is another one of the cheapest places to live in Chicago. This multicultural neighborhood is located on Chicago’s Northwest side and is well-known for its affordable living. Situated about 9 miles from downtown, this area is home to roughly 50,000 people who appreciate its varied housing options. 

In addition to a vibrant, multicultural dining scene, festivals, and convenient transportation options, residents of Albany Park will also find an abundance of apartments, rental units, and some single-family homes at relatively low prices. With so much to offer, Albany Park is not to be overlooked when it comes to the cheapest neighborhoods in Chicago. 

hash-mark7. Portage Park

Also located on the Northwest Side, Portage Park is one of the cheapest neighborhoods in Chicago for families. Considered a highly family-friendly neighborhood, Portage Park features well-maintained parks, abundant local businesses, and a vibrant commercial district along Irving Park Road. 

This and the area’s active local community keep it a popular choice among Chicago families looking for an affordable neighborhood. The area also offers a variety of housing options, such as single-family homes, bungalows, and condominiums, at an average price of $335k. This makes Portage Park a family-friendly addition to the cheapest neighborhoods in Chicago. 

hash-mark8. Rogers Park

Situated on the far North Side of Chicago, Rogers Park is also one of the cheapest places to live in Chicago. This area is grat for those who prefer living a little further from the bustle of downtown. This neighborhood is located about 11 miles from the city center and offers its residents an affordable living environment and a diverse community.

Featured amenities within this area include quick access to the beautiful beaches of Lake Michigan, year-round cultural events, and a varied housing landscape. Home values in Rogers Park average at $210k; this neighborhood is another great budget-friendly option for Chicago living.