Quantcast

The DNAinfo archives brought to you by WNYC.
Read the press release here.

Ravenswood, Fulton River District Have the Best Mix of Home Prices: Study

By Tanveer Ali | November 30, 2015 6:06am

CHICAGO — Ravenswood, parts of West Loop and South Loop rank as some of Chicago's most mixed neighborhoods when it comes to having affordable homes close to higher-end ones, a study shows.

National real estate brokerage firm Redfin compared home prices across 20 of America's largest cities to find neighborhoods that had a mix of home values.

Chicago ranks as the eighth most balanced among those cities, with 17 percent of its neighborhoods defined as "balanced," generally having one to three "affordable" homes for every high-end one.

Three neighborhoods, the Fulton River District part of West Loop, the Prairie District part of South Loop and The Villa — a part of Irving Park bounded by Pulaski, Addison and the Kennedy — were considered 100 percent mixed.

Ravenswood and the Palmer Square section of Logan Square also rank high.

"Ravenswood has a variety of housing stock and it is a vintage neighborhood," said Redfin agent Danielle Inendino, who has sold homes in that neighborhood for three years. "Obviously Ravenswood is becoming more and more popular as time goes on, but there a lot of condos that are affordable to someone of a lower income."

The company defines "affordable" homes as those that households making the median income for the city can potentially buy.

"Anything above what the median income earner can afford, we classify as high end. Anything below is classified as affordable," said Eric Scharnhorst, the study's author who said he wants to study how and why certain neighborhoods become mixed.

Boston topped Redfin's list of 20 cities.

For more neighborhood news, listen to DNAinfo Radio here: