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These days, finding an affordable place to live in the Near South Side area can be challenging. Home prices in Near South Side are now at a median cost of $476,849, higher than the Chicago average of $351,773.
The average cost of rent is $2,340/mo in Near South Side, primarily driven by the current value of real estate in the Near South Side area. In Near South Side, 50.47% of households rent, and 21.67% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Near South Side is $10,039 per month. Households that rent pay about 23.31% of their income on rent here. Near South Side’s most expensive areas are in the northeastern regions, while the cheapest areas are in the central parts of the neighborhood.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Neighborhoods
- Printers Row, Chicago, IL: less expensive homes
- Armour Square, Chicago, IL: less expensive homes
- Douglas, Chicago, IL: less expensive homes
- Loop, Chicago, IL: equally priced homes
- University Village, Chicago, IL: equally priced homes
- Greektown, Chicago, IL: equally priced homes
- Pilsen, Chicago, IL: less expensive homes
- Bridgeport, Chicago, IL: equally priced homes
- Bronzeville, Chicago, IL: less expensive homes
- Locks, Chicago, IL: less expensive homes
Neighborhoods with Similar Populations
- Brentwood, Washington, DC: higher priced homes
- Broadmoor-Sherwood, Baton Rouge, LA: less expensive homes
- Clintonville, Columbus, OH: less expensive homes
- Hyde Park, Chicago, IL: less expensive homes
- Albany Park, Chicago, IL: less expensive homes
- Little Haiti, Miami, FL: higher priced homes
- Little Lake City, Santa Fe Springs, CA: higher priced homes
- North Linden, Columbus, OH: less expensive homes
- Northeast, Anchorage, AK: less expensive homes
- Northeast, Columbus, OH: less expensive homes
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