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.
