Redfin recently released a report on the economic diversity of the nation’s major cities using 2014 city-specific median family income data from the American Community Survey. Chicago was ranked as the no. 8 best city for a balanced mix, with 17 percent of its neighborhoods with balanced economic diversity.

Redfin recently released a report on the economic diversity of the nation’s major cities using 2014 city-specific median family income data from the American Community Survey. Chicago was ranked as the no. 8 best city for a balanced mix, with 17 percent of its neighborhoods with balanced economic diversity.

The report determined purchasing power as a 20 percent down payment on a 30-year fixed-rate mortgage at 4 percent. Monthly family income going toward a mortgage was measured at 28 percent.

Redfin measured home price mix by summarizing a 500-meter grid, which were then classified as one of three categories: mix of affordable and high-end homes, high-end homes and affordable homes.

What’s the economic breakdown of Chicago neighborhoods?

Chicago
Balanced Mix Area High-end Area Affordable Area
Fulton River District 100% East Village 100% Schorsch Village 100%
Prairie District 100% Wicker Park 63% Grand Crossing 100%
The Villa 100% Bucktown 59% Gage Park 100%
Ravenswood 90% Lincoln Park 54% West Chesterfield 100%
Palmer Square 89% Hegewisch 100%

Chicago has only a reported 5 percent of high-end areas and a whopping 79 percent of them are considered affordable.

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