It's not enough to think of the firearm only - it must be part of an integrated home defense plan. If it were me, I would be doing a complete risk assessment - ie identifying risks with regard to their severity vs their probabilities and then developing strategies to minimize those risks.
From reading your original post I think you voiced 2 separate concerns ..
1 "I have had several run-ins with gang bangers around our house"
Personally, I would not be confronting persons in the street by myself. You say "I have no problem in confronting them and am not scared of them". While I admire your moral courage, I do not think it is very sensible.
I work in security and we would never go into a situation like that alone. (which everyone in this game has learned from bitter and painful experience). Rather, we would observe and report from a safe position and then gather our resources and make a plan before going in to confront - and then only because it is our duty (and we are being paid
).
The street is a public place so you better be sure of your legal position and as a civilian, there is no (legal) duty to act. Better to let law enforcement deal with it surely.
2 "the increase of break-ins"
The firearm is the last line of defense. Start with the perimeter and work your way inwards. Fences, lights, dog for the yard. Then strengthen outer locks, doors, windows. Finally strengthen the door to one inner room - usually the main bedroom - which contains your firearm and a telephone. The idea is for the outer defenses to give you warning and time to gather the family and barricade yourself while you ring the police and get your firearm ready for possible action if the door breaks open.
I don't think it really matters what firearm you have in that scenario (within limits) although obviously a bolt action .223 is not optimum. Realistically you could probably do more to protect your family by spending money on upgrading your doors and windows and exterior lighting. Having said that, I would be investing in a handgun or shotgun if I were you.