America’s best neighborhoods are in Chicago

Aly J. Yale
The Mortgage Reports contributor

Windy City wishing

Finding the perfect place to live is hard, but according to Redfin, Chicago might be the place to start. The Windy City is home to a number of the nation’s best neighborhoods – communities with affordable housing, high levels of inventory, an easy commute, low rates of crime and great schools.

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The nation’s top neighborhoods

According to an analysis by Redfin, there are 25 neighborhoods that “have it all” – and more than half of them are in Chicago. Redfin called the city “the rare major metro area that has remained relatively affordable and has largely bucked the severe inventory shortage trend seen across much of the country over the past few years.”

How to check out your next neighborhood before buying a home

Chicago’s Dunning is the top-rated neighborhood on Redfin’s list. The community boasts more than 263 homes on the market, with an average price of $256,000. Nearby Ashburn ranked at No. 2, Jefferson Park at No. 4 and Elmwood Park at No. 5. The only non-Illinois city to make the top 10 was Pittsburgh’s Squirrel Hill, which came i nat No. 3.

According to Redfin agent Jennifer Sowers, Squirrel Hill likely made the list thanks to its growing tech market.

“Relocators have really taken kindly to Squirrel Hill not only because of the affordability but also the commute,” Sowers said. “Google, Uber and Carnegie Mellon University are large employers in the area and a short commute away via public transit.”

Homebuying tips: How to choose your neighborhood

Neighborhoods in Cleveland, San Antonio, Dallas, Houston and Miami also made the list of 25, with Redfin calling them “places to watch in 2018.”

“We expect last year’s trend in migration from expensive, high-tax coastal markets like San Francisco, Silicon Valley and New York toward smaller, more affordable cities, to intensify,” Redfin reported.

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If you’re looking to buy a home in 2018, you might want to look toward these desirable neighborhoods. Want to make sure you get a great deal? Shop around and get the best mortgage rate first.

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