Top 10 Chicago Neighborhoods with Skyrocketing Home Values in the Past Year
Chicago is home to some of the most dynamic and diverse neighborhoods in the country, each with its own character, charm, and real estate potential. Over the past year, several areas have stood out as hot spots for home price appreciation, making them prime opportunities for buyers, sellers, and investors alike.
Here’s a breakdown of the top 10 Chicago neighborhoods where home values have appreciated the most in the past year:
1. Englewood/Greater Grand Crossing
Price Growth: 71.2%
Englewood and Greater Grand Crossing have seen significant growth due to revitalization projects and increased interest from investors. Affordable housing and proximity to downtown make these areas a hidden gem.
2. South Chicago/West Pullman
Price Growth: 68.4%
These neighborhoods offer a mix of historic homes and new developments, drawing buyers looking for value and long-term potential. The recent surge in home prices reflects the growing interest in this part of the city.
3. Humboldt Park/Garfield Park
Price Growth: 60.8%
Known for its iconic park and vibrant culture, Humboldt Park continues to attract young professionals and families. Garfield Park is following suit, benefiting from its proximity to the West Loop and public transportation.
4. Chicago Heights/Park Forest
Price Growth: 64.8%
Suburban-style living with affordable price points has made Chicago Heights and Park Forest popular among first-time buyers and investors. Their steady appreciation shows strong market potential.
5. Calumet City/Harvey
Price Growth: 61.5%
Situated near major transportation routes, these neighborhoods are becoming increasingly attractive to commuters and families seeking budget-friendly options with growth potential.
6. Mount Prospect/Elk Grove Village
Price Growth: 9.2%
Mount Prospect and Elk Grove Village are suburban favorites with excellent schools, parks, and community amenities. Their steady price growth is a testament to their desirability.
7. Schaumburg
Price Growth: 8.7%
As a well-established suburb, Schaumburg continues to be a hub for families and professionals thanks to its shopping, dining, and strong job market.
8. Hermosa
Price Growth: 33% (since 2012–2014)
This up-and-coming neighborhood is benefiting from spillover interest from nearby Logan Square, making it a great option for buyers looking for affordability with long-term upside.
9. Logan Square/Avondale
Price Growth: 18.5%
Logan Square remains a trendy hotspot with its thriving arts and dining scene. Avondale is riding this wave, attracting buyers looking for a mix of urban and residential vibes.
10. West Town/Near West Side
Price Growth: 17.0%
West Town continues to flourish with its mix of historic charm and modern developments. The Near West Side, with its proximity to downtown, is a magnet for young professionals.
Why It Matters for Buyers, Sellers, and Investors
For Buyers: These neighborhoods are experiencing rapid growth, which could mean increased equity for you down the line.
For Sellers: Rising prices mean it’s a great time to sell and capitalize on your home’s increased value.
For Investors: Fast appreciation makes these areas prime for long-term investments and potential rental income.
How to Take Advantage of These Trends
Navigating Chicago’s real estate market can be overwhelming, but with the right guidance, you can make smart decisions that pay off. Whether you’re looking to buy, sell, or invest, I’m here to help you every step of the way. With over 23 years of experience and $100+ million in successful sales, I have the expertise and local insights to help you achieve your goals.
Contact me today to learn more about these hot neighborhoods and how you can make the most of this exciting market. Let’s turn your real estate dreams into reality!
Sources:
Housing Studies at DePaul University
Local Chicago Real Estate Market Reports
Ready to explore these neighborhoods or get an update on your own area?📩 Contact me at 312.882.9797 or visit www.jasonrosenbergrealestate.com for more information.
