Contemplating a move to the Chicago metropolitan area (aka Chicagoland) in the near future? There are lots of choices, since the area is home to nearly 10 million people, and the largest metro area in the Midwest. Many people relocate to Chicagoland due to jobs, since the region is home to more than 400 major corporate headquarters, including 31 in the Fortune 500, such as McDonald’s, United, and Blue Cross Blue Shield. Chicago, the city itself, is the third largest city in the U.S. Known affectionately as the Windy City, Chicago is the perfect combination of urban mets green space—with more than 8,800 acres of green space and 600 parks. And when the summer weather is perfect, you’ll find most people frockiling on the 28 miles of lakefront and 24 beaches. If not living in the city itself, many live in the easily assessable suburbs, with some neighborhoods, such as Elmhurst or Brookfield, located less than 45 minutes from the Windy City.
Here is Tomo’s list of the best neighborhoods in Chicago metro area.
| Neighborhood | Median Closing Price | Median 3 year Closing Price | % Change |
|---|---|---|---|
| Hinsdale | $1,432,500 | $892,500 | 60.5% |
| West Englewood | $176,000 | $114,500 | 53.7% |
| Forest Glen | $582,250 | $445,500 | 30.7% |
| Brookfield | $350,000 | $270,500 | 29.4% |
| Roseland | $166,901 | $129,900 | 28.5% |
| Villa Park | $358,250 | $279,000 | 28.4% |
| Elmhurst | $578,750 | $453,750 | 27.5% |
| Lakeview | $765,000 | $699,000 | 9.4% |
Forest Glen Neighborhood
This classic 4 bedroom, 3.5 bath home is located in the highly sought after neighborhood of Forest Glen and is perfect for a growing family. This neighborhood made the list based on growth—an almost 31% increase in the median home closing price vs. the median home closing price over the last three years. Forest Glen, bordered by the Chicago River, is one of the oldest neighborhoods located on the city’s Northwest side.
Methodology
We looked at the median home close price by zip code during March, 2024 and compared that to the median home close price over the prior three years to determine the percent growth. We then ranked the zip codes, within each state, to determine which neighborhood had the highest percent change (essentially the highest growth).
Want to know more about Chicago?
If interested in purchasing an investment property in Chicago, look no further than The Best Flips in Chicago or the Best Neighborhoods for Flipping in Chicago. Or just want to explore other homes in Chicagoland, see the latest Chicago listings.
