According to the Zillow Home Value Index, Chicago’s residential real estate market has shown significant variation in both property values and appreciation rates across its most expensive neighborhoods. The current landscape reveals Ravenswood Manor leading the pack with a remarkable value of $760,156, standing significantly above its closest competitors, North Center and Wicker Park, both hovering around the $650,000 mark. An interesting pattern emerges in the geographical distribution of these premium neighborhoods, with a notable concentration on Chicago’s north side, while property values across these top 25 neighborhoods span from approximately $458,000 to $760,000.
The appreciation rates over the 2015-2024 period tell an equally compelling story, with Jackson Park Highlands experiencing the most dramatic increase at 58.7%, while surprisingly, Bucktown recorded the most modest growth at just 3.2%. Most neighborhoods in this elite group demonstrated healthy appreciation rates between 20-40%, though some traditionally prestigious areas showed unexpected patterns. Lincoln Park, long considered one of Chicago’s most desirable locations, saw relatively modest gains of 6.8%. Even Ravenswood Manor, while claiming the highest current value, showed a solid but not extraordinary appreciation rate of 37.1%, suggesting that high current values don’t necessarily correlate with the highest appreciation rates.
#25. Avondale
Avondale, located on Chicago’s Northwest Side, has shown steady growth over the past decade in property values. Home values in this neighborhood increased from $342,199 in 2015 to $409,397 in 2020, ultimately reaching $457,969 in 2024, representing a total appreciation of 33.8% since 2015.
#24. Pulaski Park
Pulaski Park, situated in the West Town community area, has demonstrated strong growth in property values over the study period. The neighborhood’s home values rose from $322,920 in 2015 to $369,287 in 2020, before climbing to $464,465 in 2024, marking a substantial 43.8% increase since 2015.
#23. Forest Glen
Forest Glen, located on Chicago’s far North Side, has maintained consistent growth in its real estate market. Property values in this neighborhood increased from $335,440 in 2015 to $385,924 in 2020, before reaching $472,301 in 2024, showing a strong appreciation of 40.8% over the nine-year period.
#22. Logan Square
Logan Square, a vibrant neighborhood on Chicago’s Northwest Side, has experienced steady appreciation in home values. The area saw prices rise from $362,871 in 2015 to $448,817 in 2020, before reaching $477,020 in 2024, representing a solid 31.5% increase since 2015.
#21. Peterson Park
Peterson Park, nestled in Chicago’s North Side, has shown impressive growth in property values. Home prices in this neighborhood climbed from $331,567 in 2015 to $385,429 in 2020, before reaching $482,760 in 2024, marking a significant 45.6% appreciation over the period.
#20. Graceland West
Graceland West, located within the Lakeview community area, has maintained steady growth in its housing market. Property values increased from $412,071 in 2015 to $429,420 in 2020, before reaching $504,674 in 2024, showing a 22.5% appreciation since 2015.
#19. West Town
West Town, situated just northwest of downtown Chicago, has shown moderate but consistent growth. Home values in this area moved from $434,607 in 2015 to $506,546 in 2020, before slightly adjusting to $506,269 in 2024, representing a 16.5% increase over the nine-year period.
#18. Old Norwood Park
Old Norwood Park, located on Chicago’s far Northwest Side, has demonstrated steady appreciation in property values. The neighborhood saw home values increase from $393,457 in 2015 to $412,119 in 2020, before climbing to $506,297 in 2024, showing a 28.7% gain since 2015.
#17. Ukrainian Village
Ukrainian Village, situated in West Town, has maintained its appeal with consistent property value growth. Home values in this historic neighborhood rose from $416,800 in 2015 to $465,368 in 2020, before reaching $516,843 in 2024, marking a 24% increase over the period.
#16. Andersonville
Andersonville, located on Chicago’s North Side within the Edgewater community area, has shown steady appreciation. Property values increased from $412,193 in 2015 to $426,163 in 2020, before climbing to $525,413 in 2024, representing a 27.5% gain since 2015.
#15. Jackson Park Highlands
Jackson Park Highlands, situated on the South Side near Jackson Park, has shown remarkable growth in property values. Home prices in this historic district surged from $335,967 in 2015 to $414,881 in 2020, before reaching $533,285 in 2024, marking an impressive 58.7% appreciation – the highest among all top 25 neighborhoods.
#14. Wrigleyville
Wrigleyville, centered around iconic Wrigley Field on the North Side, has maintained steady growth in its real estate market. Property values increased from $407,260 in 2015 to $437,336 in 2020, before reaching $536,129 in 2024, showing a 31.6% appreciation since 2015.
#13. Edgebrook
Edgebrook, located on Chicago’s far Northwest Side, has demonstrated consistent growth in home values. The neighborhood saw prices increase from $430,321 in 2015 to $449,062 in 2020, before climbing to $553,192 in 2024, representing a 28.6% gain over the period.
#12. Noble Square
Noble Square, situated within the West Town community area, has shown steady appreciation in property values. Home values in this neighborhood rose from $451,140 in 2015 to $491,478 in 2020, before reaching $553,481 in 2024, marking a 22.7% increase since 2015.
#11. Sauganash
Sauganash, located on Chicago’s Far North Side, has maintained consistent growth in its housing market. Property values increased from $430,277 in 2015 to $456,447 in 2020, before climbing to $560,480 in 2024, showing a 30.3% appreciation over the nine-year period.
#10. Bowmanville
Bowmanville, situated within the Lincoln Square community area, has demonstrated strong growth in property values. Home prices in this neighborhood rose from $419,893 in 2015 to $456,900 in 2020, before reaching $561,470 in 2024, representing a 33.7% increase since 2015.
#9. Wildwood
Wildwood, located on Chicago’s far Northwest Side, has shown steady appreciation in its real estate market. Property values increased from $434,802 in 2015 to $456,253 in 2020, before climbing to $566,816 in 2024, marking a 30.4% gain over the period.
#8. Lincoln Park
Lincoln Park, one of Chicago’s most well-known North Side neighborhoods, has shown modest but stable growth. Home values in this prestigious area moved from $533,857 in 2015 to $517,239 in 2020, before reaching $569,913 in 2024, showing a relatively modest 6.8% appreciation since 2015.
#7. Bucktown
Bucktown, situated in the West Town community area, has maintained steady but conservative growth in property values. The neighborhood saw prices increase from $567,836 in 2015 to $574,707 in 2020, before reaching $586,173 in 2024, marking the lowest appreciation rate among the top 25 at just 3.2%.
#6. South East Ravenswood
South East Ravenswood, located within the North Side’s Ravenswood community, has shown solid growth in its housing market. Property values increased from $469,728 in 2015 to $512,397 in 2020, before climbing to $589,388 in 2024, representing a 25.5% appreciation over the period.
#5. Roscoe Village
Roscoe Village, situated within the North Center community area, has maintained its position as a premium neighborhood. Home values in this area moved from $546,728 in 2015 to $551,262 in 2020, before reaching $599,493 in 2024, showing a 9.7% increase since 2015.
#4. East Ukrainian Village
East Ukrainian Village, located in the West Town community area, has demonstrated strong performance in its real estate market. Property values in this neighborhood rose from $515,605 in 2015 to $562,921 in 2020, before climbing to $624,325 in 2024, marking a 21.1% appreciation over the nine-year period.
#3. Wicker Park
Wicker Park, situated in the West Town community area, has maintained its status as one of Chicago’s most desirable neighborhoods. Home values in this trendy area increased from $532,584 in 2015 to $574,930 in 2020, before reaching $651,466 in 2024, showing a 22.3% appreciation since 2015.
#2. North Center
North Center, located on Chicago’s North Side, has consistently ranked among the city’s most expensive neighborhoods. Property values in this area rose from $588,606 in 2015 to $603,711 in 2020, before climbing to $652,791 in 2024, representing a 10.9% increase over the period.
#1. Ravenswood Manor
Ravenswood Manor, situated within the Albany Park community area on Chicago’s North Side, stands as the city’s most expensive neighborhood. Home values in this prestigious area have shown remarkable growth, increasing from $554,327 in 2015 to $596,128 in 2020, before surging to $760,156 in 2024, marking a substantial 37.1% appreciation since 2015.
