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Hyde Park ranks as one of the hottest neighborhoods in the country

by Rincey Abraham

One of the hottest neighborhoods in the country is located in Chicago.

A new study from the personal finance website GOBankingRates ranked the 20 hottest neighborhoods across the United States. It found that they are often right outside mid-sized cities, near interstates and have easy access to city centers.

Hyde Park came in at no. 20 on the list. Being the home to the University of Chicago helped the southern neighborhood as college towns often encourage economic and community development. The neighborhood also has a relatively young population with around a fifth of residents between the ages of 25 and 34.

GOBankingRates looked at more than 1,700 neighborhoods throughout the country to figure out which provided the best opportunities to buy before becoming too expensive. The ranking neighborhoods were chosen based on trends in home prices, availability of homes and how long homes stayed on the market.

Hyde Park

  • Median list price July 2016: $245,000
  • Median list price July 2017: $299,900
  • Year-over-year increase: 22.41 percent
  • Median days on market: 55

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