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Cost of moving: Chicago property tax and rental prices

Chicago is truly the City of Neighborhoods, and each of its 77 areas has it own identity - and cost.

Chicago is truly the City of Neighborhoods, and each of its 77 areas has it own identity - and cost.

Chicago has gone by many names over the years - the Windy City, the City of Big Shoulders, the Second City - but anyone packing up and moving to the area should also be aware that Chicago truly is a City of Neighborhoods, each with its own identity and price range.

As with any major metropolitan area, Chicago has costly parts of town, less costly parts of town and parts of town you should probably avoid at all cost. If you're buying a home in the City by the Lake, property taxes might play a major role in your decision regarding where to move, and the Huffington Post has highlighted some of the more expensive neighborhoods.

Roscoe Village is one of the smallest neighborhoods on the city's North Side. Spanning just a few blocks in any direction, it contains fewer than 3,000 homes. But despite its small size, it boasts the largest average property tax in the city at $6,418 for 2011. Moving companies may also find it hard to navigate the narrow roads lined with low-hanging trees.

Trendy Wicker Park is home to a large number of hip music venues, bars, restaurants and stores where Chicagoans can find anything from books and records to antique jewelry. If you're moving to a home in this area, be sure to find one with a garage, because parking can be a nightmare. Property taxes in the neighborhood aren't much better - the average payout last year was $6,129.

Sports fans might consider moving to Wrigleyville, home of those Lovable Losers, the Chicago Cubs. Located blocks from Lake Michigan, the neighborhood has a bustling nightlife. And at $6,024, it had the third highest average property tax rate in the city in 2011. 

Renting an apartment in Chicago can be a costly affair, as well. With 77 neighborhoods, knowing which one to go to for the best deal is tough. Local apartment finding service Domu.com lists the most expensive areas in the city.

The most consistently expensive neighborhoods in the city are the Gold Coast and River North neighborhoods, located near the heart of the city's near-north side and just a stone's throw from the lake. A family of four looking to rent a three-bedroom apartment in those neighborhoods this year can expect to pay between $5,700 and $6,700 per month.

Up-and-coming Logan Square, however, might prove a more affordable choice. The area is home to a diverse group of ethnic minorities, with a large Mexican and Polish population. Three-bedroom apartments in the area average roughly $1,500, according to Domu.