Chicago - IL housing market

The typical home value ($360,262) is the Zillow Home Value Index for the Chicago - IL metro area: a smoothed, seasonally adjusted estimate of the typical value for middle-tier homes (33rd to 67th percentile) across single-family and condo properties.

Prices are up 4.7% over the past year. In Chicago - IL, that means a home worth $344,090 last year is now worth roughly $360,262.

The median sale price, what homes actually close for, is $345,633. Homes are selling at 100.8% of list price, meaning buyers are typically paying at or above asking.

Homes listed in Chicago - IL sit on the market for roughly 11 days before going pending. Shorter = seller's market; longer = buyer's market.

About 23.3% of current listings have had at least one price cut. High price-cut shares signal sellers are adjusting expectations downward.

Roughly 10,664 new listings hit the market each month in Chicago - IL. There are currently 24,116 homes for sale, up 0.4% from a year ago.

The typical monthly rent in Chicago - IL is $2,253, up 5.2% year over year. On the Rent vs Buy Index that is a price-to-rent ratio of 13.3x, buying territory (#175 of 195 metros). The mortgage on a typical home here, 20% down at today's 6.66% 30-year rate, runs about $1,852 a month in principal and interest, $401 less than renting before taxes, insurance and upkeep. The two break even at a 8.68% rate.

What's not on this page

This is market-level data, not property-level. We don't list individual homes for sale. For that, go to Zillow, Redfin, or your local MLS.

Data: Zillow Research (ZHVI and market indicators), refreshed monthly at the source. This page was rebuilt September 2026. Methodology →