Edgewater
Located on the west side of Sloan's Lake, encompassing approximately one square mile and home to about 5,000 residents, Edgewater has done much to shake off a less-than-savory history. These days, businesses are moving to the town in record numbers, as are bargain-hunting homebuyers thrilled by prices thousands less than in neighboring Highland. Edgewater's median home price was $179,500 in the fourth quarter of 2006, according to a noteable real estate data provider. That was $39,000 less than the national median calculated by the National Association of Realtors for the same period. Edgewater isn't all that big. There are some really cute, beautiful homes, but some of the homes haven't gotten that renovation yet. People who are good at fixing and flipping may see opportunities, but people who want to live there may want to wait to see what others do.