Look no further than Chicago's Southwest Side for the hottest affordable neighborhood in the country, proclaims a new real estate list ranking in-demand spots "for the typical homebuyer."
While many of Redfin's 10 hottest, most affordable neighborhoods for 2019 landed in Baltimore and Philadelphia, Chicago's own McKinley Park took the top spot.
“Homebuyers are flocking to McKinley Park because it’s just south of Pilsen, which is one of the trendiest neighborhoods in the country," Redfin agent Niko Voutsinas said in a statement, "and it’s just west of long-established Bridgeport. People who are priced out of Pilsen are looking in McKinley Park.”
Voutsinas also points to McKinley Park's "excellent connectivity to downtown" via nearby CTA trains and I-55.
"The neighborhood has a beautiful park with public amenities, a pond and an outdoor swimming pool,” Voutsinas said of the neighborhood's namesake park and fieldhouse.
Redin estimates McKinley Park's median sale price at $270,000 and an average sale-to-list price ratio of 97.9 percent. About 35 percent of homes sold above list price, according to Redfin.
The real estate brokerage's algorithm for the hottest affordable neighborhoods in the country is "a prediction based on year-over-year growth in pageviews of listings and favorites on Redfin.com from June 1, 2017 through November 30, 2017 to June 1, 2018 through November 30, 2018 and on agent insights, with a price cap of $294,000, the national median."
More details on the list can be found here.
10 Hottest Affordable Neighborhoods in the Country 2019
1. McKinley Park, Chicago, IL
2. East Mount Airy, Philadelphia, PA
3. Parkville, Baltimore, MD
4. Hamilton, Baltimore, MD
5. Fircrest, Vancouver, WA (Portland, OR metro area)
6. Bustleton, Philadelphia, PA
7. Linthicum, Baltimore, MD
8. Lowell, MA (Boston metro)
9. Fox Chase, Philadelphia, PA
10. Beacon Hill, San Antonio, TX
