Chicago Housing Market: Trends & Prices (2025)

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    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.

    $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.

    Housing market forecast chart

    *Graph taken from Zillow as of 4/2025

    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%

    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.

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    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.


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