Chicago housing market
Typical home value
$356K
▲ 5.0% 1 yr
Typical rent
$2,163/mo
▲ 4.7% 1 yr
12-month forecast
+2.7%
#167 of 546 metros
Gross rent yield
7.3%
#92 of 546 · U.S. 6.3%
Days to pending
31 days
■ 0 days 1 yr
Listings with a price cut
27%
▼ −0.8 pts 1 yr
Key takeaways
- 1The typical home is worth $355,650, up 5.0% in a year and up 28% over five years.
- 2Zillow forecasts home values rising 2.7% over the next 12 months (U.S.: +1.1%).
- 3Typical rent is $2,163/mo (+4.7% YoY), a 7.3% gross yield, above the U.S. 6.3%.
- 4At 7.32% with 20% down, the typical home costs $1,954/mo in principal and interest, $209 less than renting.
- 5Homes go under contract in 31 days (0 days vs last year); 27% of listings have had a price cut.
Market temperature
Neutral market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 52/100, #107 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
How fast homes are selling
For saleNew listings
Affordability
To buy (20% down)To rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Chicago compares
| Measure | Chicago | United States | Rank of 546 |
|---|---|---|---|
| Home value, 1-yr change | +5.0% | +1.2% | #66 |
| Home value, 5-yr change | +27.9% | +19.7% | |
| 12-month forecast | +2.7% | +1.1% | #167 |
| Rent, 1-yr change | +4.7% | +2.7% | #134 |
| Gross rent yield | 7.3% | 6.3% | #92 |
| Price-to-rent ratio | 13.7 | 15.8 | |
| Mortgage P&I on typical home | $1,954 | $2,012 | |
| Income needed to buy | $104,795 | $100,902 | |
| Days to pending | 31 | 56 |
Cities in the Chicago metro
63 cities with home value and rent data.
| Chicago | $334K | ▲ 5.6% | $2,311 | ▲ 5.7% | 8.3% |
| Aurora | $323K | ▲ 3.3% | $2,294 | ▲ 3.2% | 8.5% |
| Naperville | $618K | ▲ 4.5% | $2,236 | ▲ 2.0% | 4.3% |
| Joliet | $268K | ▲ 1.3% | $1,675 | ▲ 6.1% | 7.5% |
| Elgin | $340K | ▲ 4.7% | $1,923 | ▲ 3.8% | 6.8% |
| Plainfield | $429K | ▲ 1.8% | $3,027 | ▲ 2.9% | 8.5% |
| Kenosha | $282K | ▲ 6.5% | $1,627 | ▲ 5.3% | 6.9% |
| Waukegan | $247K | ▲ 6.9% | $1,660 | ▲ 2.9% | 8.1% |
| Cicero | $278K | ▲ 5.2% | $1,322 | ▲ 2.2% | 5.7% |
| Valparaiso | $360K | ▲ 2.5% | $1,459 | ▲ 4.3% | 4.9% |
| Arlington Heights | $493K | ▲ 8.9% | $1,999 | ▲ 0.7% | 4.9% |
| Des Plaines | $356K | ▲ 7.0% | $2,079 | ▲ 5.7% | 7.0% |
| Evanston | $491K | ▲ 8.6% | $2,438 | ▲ 3.2% | 6.0% |
| Schaumburg | $357K | ▲ 4.7% | $2,125 | ▲ 3.6% | 7.1% |
| Gary | $87K | ▼ 0.9% | $1,367 | ▲ 4.8% | 18.8% |
| Bolingbrook | $369K | ▲ 3.3% | $2,742 | ▲ 4.9% | 8.9% |
| Palatine | $390K | ▲ 6.6% | $1,895 | ▲ 2.4% | 5.8% |
| Hammond | $177K | ▲ 1.8% | $1,512 | ▲ 4.3% | 10.3% |
| Orland Park | $411K | ▲ 6.4% | $2,713 | ▲ 4.3% | 7.9% |
| Crown Point | $361K | ▲ 1.8% | $1,718 | ▲ 5.2% | 5.7% |
| Skokie | $427K | ▲ 7.9% | $2,371 | ▲ 5.2% | 6.7% |
| Downers Grove | $503K | ▲ 6.0% | $2,248 | ▲ 3.5% | 5.4% |
| Oak Lawn | $299K | ▲ 6.1% | $1,717 | ▲ 4.6% | 6.9% |
| Wheaton | $507K | ▲ 5.2% | $2,375 | ▲ 0.3% | 5.6% |
| Mount Prospect | $449K | ▲ 7.6% | $1,835 | ▲ 1.8% | 4.9% |
| Glenview | $692K | ▲ 10.6% | $2,601 | ▲ 2.0% | 4.5% |
| Berwyn | $318K | ▲ 6.0% | $1,485 | ▲ 2.6% | 5.6% |
| Oak Park | $480K | ▲ 10.4% | $2,044 | ▲ 5.0% | 5.1% |
| Crystal Lake | $382K | ▲ 4.4% | $1,969 | ▲ 5.9% | 6.2% |
| Lombard | $386K | ▲ 5.0% | $2,094 | ▲ 2.2% | 6.5% |
| Hoffman Estates | $404K | ▲ 6.5% | $2,039 | ▲ 4.1% | 6.1% |
| Elmhurst | $635K | ▲ 8.8% | $2,453 | ▲ 4.3% | 4.6% |
| Dekalb | $261K | ▲ 4.0% | $1,320 | ▲ 8.0% | 6.1% |
| Oswego | $421K | ▲ 3.4% | $2,447 | ▲ 2.0% | 7.0% |
| Saint Charles | $477K | ▲ 6.4% | $1,956 | ▲ 3.4% | 4.9% |
| Northbrook | $711K | ▲ 10.0% | $3,014 | ▲ 3.7% | 5.1% |
| Carol Stream | $382K | ▲ 3.7% | $1,844 | ▲ 3.3% | 5.8% |
| Merrillville | $242K | ▲ 1.4% | $1,562 | ▲ 4.0% | 7.7% |
| Mundelein | $387K | ▲ 5.6% | $2,327 | ▲ 2.6% | 7.2% |
| Romeoville | $323K | ▲ 2.7% | $2,073 | ▲ 1.5% | 7.7% |
| Buffalo Grove | $444K | ▲ 5.8% | $2,403 | ▲ 0.5% | 6.5% |
| Portage | $266K | ▲ 0.2% | $1,449 | ▲ 4.9% | 6.5% |
| Wheeling | $316K | ▲ 4.3% | $2,009 | ▲ 0.8% | 7.6% |
| Hanover Park | $332K | ▲ 4.8% | $2,405 | ▲ 0.3% | 8.7% |
| Gurnee | $381K | ▲ 5.3% | $1,944 | ▲ 3.8% | 6.1% |
| Calumet City | $155K | ▼ 1.7% | $1,536 | ▲ 2.3% | 11.9% |
| Elk Grove Village | $398K | ▲ 6.1% | $1,833 | ▲ 2.8% | 5.5% |
| Woodridge | $412K | ▲ 3.4% | $1,638 | ▲ 0.9% | 4.8% |
| Glendale Heights | $324K | ▲ 4.2% | $1,920 | ▲ 4.1% | 7.1% |
| Geneva | $551K | ▲ 7.1% | $2,002 | ▲ 3.9% | 4.4% |
| Lisle | $428K | ▲ 3.4% | $1,919 | ▲ 4.3% | 5.4% |
| Lockport | $374K | ▲ 4.0% | $2,213 | ▲ 1.8% | 7.1% |
| Highland Park | $802K | ▲ 10.0% | $3,147 | ▲ 6.7% | 4.7% |
| East Chicago | $130K | ▼ 3.7% | $1,040 | ▲ 3.7% | 9.6% |
| Vernon Hills | $456K | ▲ 5.9% | $2,587 | ▲ 4.0% | 6.8% |
| Rolling Meadows | $337K | ▲ 7.4% | $2,061 | ▲ 5.2% | 7.3% |
| Westmont | $411K | ▲ 4.3% | $1,871 | ▲ 0.2% | 5.5% |
| Highland | $267K | ▲ 2.0% | $1,588 | ▲ 7.6% | 7.1% |
| Dolton | $157K | ▲ 4.9% | $2,327 | ▼ 1.0% | 17.8% |
| Willowbrook | $326K | ▲ 3.7% | $2,090 | ▲ 6.3% | 7.7% |
Run the numbers
Rental property calculator
Cash flow on a typical Chicago rental ($356K, $2,163/mo), pre-filled.
Mortgage calculator
Monthly payment on a typical Chicago home.
Rent vs buy
Is it cheaper to rent or buy in Chicago?
Other Illinois metros
Peoria, IL
$175K home$1,157 rent7.9% yield
▲ 6.4% 1 yr
Davenport, IA
$195K home$1,003 rent6.2% yield
▲ 4.8% 1 yr
Rockford, IL
$222K home$1,299 rent7.0% yield
▲ 8.5% 1 yr
Champaign, IL
$239K home$1,384 rent6.9% yield
▲ 4.9% 1 yr
Springfield, IL
$201K home$1,207 rent7.2% yield
▲ 7.4% 1 yr
Bloomington, IL
$261K home$1,292 rent5.9% yield
▲ 1.9% 1 yr
Carbondale, IL
$151K home$811 rent6.4% yield
▲ 1.5% 1 yr
Kankakee, IL
$227K home$1,327 rent7.0% yield
▲ 6.0% 1 yr
Gross yield = 12 × typical rent ÷ typical home value, before expenses. Mortgage estimate: 20% down, 30-year fixed at the current Freddie Mac average, principal and interest only. Forecast: Zillow Home Value Forecast. Data refreshed Oct 26, 2026.