The Social Media Information Lab at Rutgers University has brought local context to the world of Instagram with their new project, 'The Beat'. The premise is simple: pluck an Instagram picture off a user's map and overlay it on the corresponding Google StreetView location.
The Beat only lets you search by topic, but with the right hashtag you can explore your local area too. Check out this screen capture from 'the #chicago beat':
My personal favorite is 'the #ribeye beat'... yum!