Chicago, IL Housing Market
AI-powered market intelligence for the Chicago-Naperville-Elgin, IL-IN metro area.
PropertyIQ Scores
Chicago, IL Market Analysis
Market Overview
Chicago’s housing market is strong, posting a PropertyIQ Score of 90/100. The score is supported by 12-month home value momentum of 8.42%, a median days on market of 36 days, and a price cut share of 14.6%. The 3-month home value momentum of -0.18% adds a note of short-term cooling, but it does not outweigh the longer annual trend. Compared with Illinois state averages, Chicago is more expensive: the median home value is $357,265 versus $297,573, and the rent index is $2,210 versus $1,227.
Local fundamentals partly offset those higher costs. Median household income is $88,850, above the state average of $81,702, while unemployment is 4.9%, matching the state average. Homes for sale total 15,130, and population growth is not available in the provided data. Overall, the score reflects
AI-generated analysis based on current market data. Last updated September 28, 2026.
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Chicago, IL Housing Market Overview
Whether you're considering buying a home, investing in rental property, or weighing entry timing in the Chicago, IL area, the PropertyIQ Score gives you a single, data-first read on relative market strength. It is validated against actual market outcomes from 2001 to 2023, with a positive score-to-return relationship in every validated year across IL and every other US state.
Midwestern housing markets are characterized by affordability and economic diversification. From manufacturing hubs undergoing tech-sector transitions to university towns with stable demand, the region offers value-oriented opportunities with lower entry costs than coastal markets.
For the Chicago, IL market, PropertyIQ calculates a single score each month from four inputs: twelve-month Zillow home-value momentum, three-month Zillow home-value momentum, median days on market from Realtor.com, and the Realtor.com price-reduced share. The score is computed nationally across all metros and calibrated so 50 equals the state average. Across the validation history, metro markets in the top score band have outperformed their state by roughly 1.7 percentage points more per year than bottom-band markets.
Explore the interactive map to see how Chicago, IL compares to neighboring metros, or view the full market dashboard for detailed analytics including time-series trends, score breakdowns, and AI-generated market reports.
Counties in the Chicago, IL metro area
ZIP codes in the Chicago, IL metro area
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Sourced from Zillow, Realtor.com, Redfin, U.S. Census Bureau, FRED, BLS, and BEA. Per-statistic source and date shown above.