Chicago Housing Market: Trends & Prices (2025)
Chicago Real Estate Market Overview
By Sarah Brooks
(Last Updated – 4/2025)
Chicago, aka “The Windy City,” is known for its beautiful architecture, access to world class art and entertainment options, and delicious pizza. While deep dish pizza may not be reason alone to move to Chicago, perhaps the current Chicago housing market is enough to entice you.
The median home sale in the U.S. in February 2025 was $424,429, according to Redfin. In Chicago, the median home sale in the same time period was just $362,500. While home values are up nationwide across the board, home values are lower in Chicago compared to the rest of the country.
And for those that prefer cold weather and snow, you may find Chicago’s chillier weather appealing. Chicago has 38 inches of rain per year, 37 inches of snow, and 84 sunny days per year.
What the city of Chicago lacks in sunny days, it makes up for in education opportunities. Illinois landed the 16th spot (out of all 50 states) on U.S. News’ Best States for Education list.
Overall, Chicago offers a diverse culture, robust job market, and renowned culinary and arts scenes. Residents enjoy access to world-class museums, theaters, and music venues, alongside a passionate sports culture. The city’s extensive public transportation system, including the “L” train, enhances connectivity across its numerous neighborhoods.
Keep reading to learn more on the Chicago housing market, including home prices, popular neighborhoods, and Chicago real estate market predictions for 2025.
Overall Chicago Market Trends
The real estate professionals at Redfin view the Chicago real estate market as “somewhat competitive,” likely due to the fact that some houses for sale in Chicago receive multiple offers. However, they do sell for around 1% below their list price, on average.
$362,500
Median Home Price
$280
Median Price Per Square Foot
75 days
Median Time on Market
Chicago Housing Market Forecast
Chicago house prices went up by 7.4% in February 2025 compared to the past year, and Zillow projects they will rise by another 1.2% in the coming year.
As the chart below illustrates, after a decline in 2023, Chicago’s housing home values are on the rise again so far this year.
Demographics of the Chicago Market
The demographics of Chicago vary greatly by neighborhood. Before you dive deeper into which part of town you want to call home, you should familiarize yourself with demographics of the entire Chicago real estate market.
Median Household Income: $75,134
Median Age: 35
College Educated: 43.3%
Homeowners: 45.5%
Married: 37.85%
Popular Chicago Neighborhoods
From walkable neighborhoods on the Southwest Side to the tree-lined streets of Hyde Park, there is a neighborhood for everyone in Chicago to love.
There are almost too many great neighborhoods to choose from, which is why we’re breaking down the fast facts you need to know about five of the most popular neighborhoods in Chicago.
Hyde Park
Hyde Park, located on Chicago’s South Side along the shores of Lake Michigan, is a neighborhood rich in history, culture, and academic influence. Approximately seven miles south of downtown Chicago, it offers a blend of residential charm, intellectual vibrancy, and cultural attractions, making it a highly desirable place to live.
Residents enjoy a variety of dining options, from local favorites like Valois Cafeteria to international cuisines reflecting the neighborhood’s diverse population. The area also hosts numerous events and festivals, such as the Hyde Park Jazz Festival, fostering a strong sense of community and cultural engagement.
Quick Facts
Population:
13,326
Median Age:
33
Housing Units:
7,356
Bike Score:
91/100
Walk Score:
87/100
Transit Score:
64/100
Median Household Income:
$84,933
Hyde Park Housing Market
The Hyde Park housing market isn’t the most competitive in the Chicago market, as multiple offers are rare here and homes typically stay on the market for 84 days.
Compared to last year, home prices are exactly the same. They sell for an average of 4% below list price, with hot homes selling about 1% below list price.
Median Home Price
$270,000
Median Price Per Square Ft.
$186
Logan Square
If you have an artistic spirit, then you’ll feel right at home in Logan Square. This neighborhood is known for its creative energy and urban vibe, as well as being home to some major Chicago landmarks and architecture.
Logan Square boasts an array of locally owned shops, trendy cocktail bars, intimate music venues, and a diverse culinary scene. Notable establishments include Café Mustache, a popular spot for breakfast and live music, and Daisies, known for its innovative pasta dishes. All this creative energy contributes to Logan Square’s reputation as one of Chicago’s most dynamic communities.
Quick Facts
Population:
85,589
Median Age:
32
Housing Units:
41,975
Bike Score:
93/100
Walk Score:
91/100
Transit Score:
68/100
Median Household Income:
$144,749
Logan Square Housing Market
Homebuyers should note that home values in the Logan Square neighborhood went up 24.6% in February 2025 compared to last year.
Some homes in Logan Square are getting multiple offers, which could be the reason for the price increase. The average home sells for around list price in about 64 days. Highly desired homes typically sell for 2% above list price in about 34 days.
Median Home Price
$645,000
Median Price Per Square Ft.
$359
Lincoln Park
Lincoln Park is located just north of downtown Chicago. It is one of the city’s most prestigious and picturesque neighborhoods, known for its tree-lined streets, historic brownstones, and vibrant atmosphere.
Lincoln Park blends urban convenience with natural beauty. At the heart of the neighborhood lies its namesake park — over 1,200 acres of green space that includes the Lincoln Park Zoo, conservatory, and scenic lakefront trails. This makes the area especially attractive to families, joggers, and outdoors enthusiasts.
Quick Facts
Population:
70,444
Median Age:
31
Housing Units:
38,089
Bike Score:
92/100
Walk Score:
94/100
Transit Score:
79/100
Median Household Income:
$227,916
Lincoln Park Housing Market
Home prices in Lincoln Park rose by 1.2% in February 2025 compared to last year, and typically homes sell for around their list price in this neighborhood.
It can take around 38 days for a home to go pending, but that should give buyers a little more time to mull over their options than in more competitive neighborhoods. Keep in mind, though, that hot homes typically are pending within 24 days and go for 4% above list price.
Median Home Price
$733,750
Median Price Per Square Ft.
$429
Bridgeport
Bridgeport is one of the oldest and most politically influential neighborhoods in Chicago. Baseball fans will appreciate that this neighborhood is home to the Chicago White Sox, which will make for plenty of fun family outings to the ballpark.
The community also boasts several parks and recreational areas, providing residents with ample green spaces.
Quick Facts
Population:
27,101
Median Age:
35
Housing Units:
11,475
Bike Score:
83/100
Walk Score:
82/100
Transit Score:
61/100
Median Household Income:
$88,977
Bridgeport Housing Market
Housing prices are up in Bridgeport (18.4% in February 2025 since last year), so now might be a chance to snag a home in this charming neighborhood before prices increase further. Most homes in this area sell for about 1% below the list price.
You probably won’t need to move quickly if you find a home you love — the average home goes pending in 66 days, with hot homes going pending in 33 days (and selling for 3% above list price, on average).
Median Home Price
$580,000
Median Price Per Square Ft.
$254
Gold Coast
Gold Coast is one of Chicago’s most affluent and historic neighborhoods, located on the city’s Near North Side. While it’s one of the safest neighborhoods in town, it is also quite expensive and targets more affluent Chicagoans.
Its streets are lined with high-end boutiques, gourmet restaurants, and cultural institutions, contributing to its reputation as a chic place to live. Additionally, its location provides easy access to downtown Chicago and scenic lakefront views.
Quick Facts
Population:
8,629
Median Age:
35
Housing Units:
6,140
Bike Score:
86/100
Walk Score:
96/100
Transit Score:
78/100
Median Household Income:
$184,414
Gold Coast Housing Market
According to Redfin, homes in Gold Coast are up 29.9% as of February 2025 when compared to last year. Homes typically sell after 103 days on the market, which is down from 151 days last year.
Median Home Price
$565,000
Median Price Per Square Ft.
$345
SoFi Home Loans
It’s easy to see why Chicago has become such a popular market to buy a home in. There are some really amazing neighborhoods to choose from whether you’re young and single or have a family to look after.
If you think Chicago could be your home sweet home, then you may need to consider your home loan options.
Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.
FAQ
What is the current median home price in Chicago?
As of early 2025, the median home price in Chicago was approximately $362,500. However, prices can vary widely depending on the neighborhood, with luxury areas like the Gold Coast and Lincoln Park trending higher.
Is Chicago a buyer’s or a seller’s market right now?
Chicago is currently considered a balanced market. While certain hot neighborhoods lean toward sellers, overall inventory levels and moderate price growth give buyers negotiating power, especially outside premium areas.
What are the best neighborhoods in Chicago?
The best neighborhoods will depend on your needs and what it is you want. However, top-rated neighborhoods in Chicago include Lincoln Park, Logan Square, Hyde Park, and Gold Coast.
SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.
SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.
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