10 Richest Neighborhoods in Chicago
- Gold Coast
- Lake View
- Beverly
- Lincoln Park
- Edison Park
- Forest Glen
- The Loop
- Mount Greenwood
- Lincoln Square
- West Town
1. Gold Coast
The Gold Coast is the richest neighborhood in Chicago, with a median household income ot $111,800. The historic luxury shopping district became a popular destination for the city’s wealthiest residents after the Great Chicago fire. Millionaire businessman Potter Palmer built the first mansion on the Gold Coast, and many other wealthy residents soon followed suit. By the 1980s, the Gold Coast was the second richest neighborhood in the US, after the Upper East Side in New York. Today, it’s still a very affluent area with a mix of gorgeous mansions, high-rise apartments, rowhouses, and upscale shops and restaurants.
2. Lake View
Lake View is another one of the richest cities in Chicago. Located on the North Side of Chicago, Lake View is home to just over 100,000 residents. As its name implies, Lake View offers gorgeous views of Lake Michigan and is close to popular attractions like Wrigley Field and Lincoln Park. It’s popular among well-to-do families and young professionals looking for a calm area with easy access to excitement. However, the convenience comes at a price, and the average home price is $398,712, while the median household income is $106,900.
3. Beverly
Beverly is another one of the richest neighborhoods in Chicago. Situated in Chicago’s Far South Side, Beverly is a quiet, family-oriented community with a residential atmosphere. It’s a bit more secluded than other urban Chicago neighborhoods. However, it’s also insulated from the crime and violence of the southside. Beverly is one of the safest places to live in Chicago, with a violent crime rate that’s 63% lower than the rest of the US. It’s also one of the city’s most affluent communities, and the median household income is $106,700, while the median home price is $391,479.
4. Lincoln Park
Lincoln Park is also one of the wealthiest communities in Chicago. Located on the North Side just south of Lake View, Lincoln Park is home to the sprawling park of the same name, as well as notable attractions like the Chicago History Museum, North Avenue Beach, and the Lincoln Park Zoo. It’s an upscale, walkable community full of 19th-century townhouses, mansions, luxury apartment buildings, and plenty of shopping, dining, and nightlife. But it’s also one of Chicago’s pricier neighborhoods, with an average home price of $548,639 and a median household income of $100,600.
5. Edison Park
Edison Park is another one of the richest neighborhoods in Chicago. It’s an affluent Northside neighborhood with a population of 11,525. The suburban enclave is often considered one of the best places to live in Chicago and is home to many affluent residents. The median household income in Edison Park is $98,100, and the average home price is $398,712. It’s also the safest neighborhoods in Chicago, and the violent crime rate is 72% lower than the national average.
6. Forest Glen
Forest Glen is also one of the wealthiest neighborhoods in Chicago. Situated adjacent to Edison Park, Forest Glen is another quiet residential area with a low crime rate. The total crime rate is 54% lower than the national average, while the violent crime rate is 74% lower than the national average. The community is home to many local politicians, city officials, and well-to-do families, and the median household income is $96,000, while the average home price is $447,353.
7. The Loop
The Loop is also one of the wealthiest neighborhoods in Chicago. It’s the central business district of Chicago and the second largest CBD in North America after Midtown Manhattan. The Loop is home to about 42,298 residents and some of the city’s most notable attractions, such as Millennium Park and Chicago’s City Hall. It’s a popular destination for young professionals and students who want to be in the heart of the action. It’s relatively affordable, with an average home price of $253,423, yet the median household income is $94,500.
8. Mount Greenwood
Mount Greenwood also ranks among the wealthiest communities in Chicago. Located in Southwest Chicago, Mount Greenwood is a major shopping district with a range of local businesses, shops, and restaurants and a population of 18,628. It’s also home to Saint Xavier University and Mount Xavier Park, making it ideal for students and families. The median household income in Mount Greenwood is $92,900.
9. Lincoln Square
Lincoln Square is another one of the richest neighborhoods in Chicago. Located on the North Side of Chicago, Lincoln Square is a larger district made up of smaller communities like Ravenswood, Budlong Woods, and Bowmanville. It has a total population of 40,494. It’s a quaint, walkable community that is home to many upper-middle-class and wealthy families with a median household income of $80,700 and an average home price of $423,990.
10. West Town
West Town is also an affluent Chicago neighborhood. Situated northwest of the Loop on the West Side of Chicago, West Town is also a collection of smaller neighborhoods such as Wicker Park, East Village, and Noble Square. It’s a bustling neighborhood full of art galleries, upscale boutiques, and delicious restaurants. The median household income is $75,500, while the average home price is $475,419.