Lake View Named Nation’s 3rd Best Big-City Neighborhood

CNN’s MONEY Magazine is ranking 2013’s best places to live in America, and this year, Lake View snagged a top spot as one of the best neighborhoods in a major city.

It’s all a part of the publication’s annual Best Places to Live in America list, highlighting small towns across the country with populations of 10,000-50,000. This year, however, MONEY also took a look at the 10 “Best Big-City Neighborhoods.”

Lake View comes in third behind Park Slope, New York City and Silver Lake, Los Angeles. It’s also the only neighborhood in Chicago to make the list.

MONEY cites Lake View’s median household income of $77,500 and median home values of $345,000 as reasons it made the cut. That’s combined with the average monthly rent of $1,800 for a 2-bedroom rental, compared to Park Slope’s $3,000.

“If any 'hood is all things to all people, it's Lakeview,” MONEY writes. “Ask residents what they like best, and some will tell you about the show they saw in the Belmont Theater District. Others will talk about the parks, golf course, and easy access to Lake Michigan. Then there are those who point to Wrigley Field or the Boystown district, Chicago's largest gay and lesbian community. And it's all just five miles north of the downtown Loop, with affordable homes and easy access to the L.”

So, what are some of the cons of living in Lake View? MONEY mentions concerns neighbors have been verbal about in the past, including the hoards of people in Wrigleyville on game days. That’s in addition to the area’s high-priced rental market.

But when it comes to household affordability, Lake View is a far cry from the list’s top two neighborhoods. Park Slope in NYC has a median home value of more than $850,000, while Silver Lake in LA is just above $630,000.

Along with looking at the hard numbers, MONEY’s staff also visited the finalists to interview residents, assess things like traffic and parks and to consider intangible things like community spirit.

It turns out Lake View has spirit.

Want to see MONEY Magazine’s full list of America’s best cities? Check out their breakdown.