Chicago, with a population of over 2.6 million, ranks as the third largest city in the US and is known for its affluent communities. If you’re considering a move to the Windy City, check out this list of the 5 wealthiest neighborhoods in Chicago.
Top 5 Wealthiest Areas in Chicago
Gold Coast
Chicago’s Gold Coast boasts the highest median household income of $111,800. Following the Great Chicago fire, the historic luxury shopping district quickly became a favored spot for the city’s affluent residents. Entrepreneur Potter Palmer constructed the initial mansion on the Gold Coast, prompting numerous affluent residents to do the same. In the 1980s, the Gold Coast ranked as the second wealthiest neighborhood in the US, following the Upper East Side in New York. Today, the neighborhood remains a wealthy area featuring a variety of luxurious homes, tall apartment buildings, rowhouses, and high-end stores and dining options.
Scenic Lake View
Lake View is considered one of the most affluent cities in Chicago. On the North Side of Chicago lies Lake View, where more than 100,000 residents call home. Lake View provides stunning views of Lake Michigan and is conveniently located near popular attractions such as Wrigley Field and Lincoln Park. It is favored by affluent families and young professionals seeking a peaceful neighborhood close to entertainment options. Yet, this convenience does come with a cost, as the average home price stands at $398,712, while the median household income is $106,900.
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Beverly
Beverly ranks among the wealthiest neighborhoods in Chicago. Located in the Far South Side of Chicago, Beverly is a peaceful community with a family-friendly vibe and a residential feel. This Chicago neighborhood is more private compared to others in the city. Yet, it is also shielded from the crime and violence of the southside. Beverly is considered one of the safest neighborhoods in Chicago, boasting a violent crime rate that is significantly lower than the national average. This community is considered one of the wealthiest in the city, with a median household income of $106,700 and a median home price of $391,479.
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Lincoln Park
Lincoln Park ranks among the most affluent neighborhoods in Chicago. Lincoln Park is situated on the North Side, close to Lake View. It features the expansive park after which it is named, along with popular sites such as the Chicago History Museum, North Avenue Beach, and the Lincoln Park Zoo. This neighborhood is filled with elegant 19th-century townhouses, mansions, luxury apartment buildings, and a variety of shopping, dining, and nightlife options, all within walking distance. However, it is considered one of the more expensive neighborhoods in Chicago, with an average home price of $548,639 and a median household income of $100,600.
Edison Park
Edison Park stands out as one of the most affluent areas in Chicago. This neighborhood on the Northside is home to 11,525 residents. The suburban enclave is widely regarded as one of the top residential areas in Chicago, attracting numerous affluent residents. In Edison Park, the median household income is $98,100, with an average home price of $398,712. This neighborhood in Chicago is known for its safety, with a violent crime rate that is significantly lower than the national average.
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