Deerfield, IL—60015
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Deerfield, IL
As of Oct '25, the median home price in Deerfield, IL is $685,000, with a year-over-year change of 6.9%. This indicates that home prices in Deerfield, IL are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $685,000 | 6.9% |
| Single Family | $753,000 | 6.7% |
| Condos | $337,000 | 6.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $349,000 | 6.7% |
3 Bed | $542,000 | 7.1% |
4 Bed | $801,000 | 6.4% |
| 5 Bed | $1,112,000 | 6.4% |
% of Housing Stock
Rental Trends — Deerfield, IL
As of July '25, Rentcast reports the average rent in Deerfield, IL is $2,980, with a year-over-year rent change of 2.4%. Per bedroom, the median rent as of July '25 in Deerfield, IL is 1-bedrooms: $2,310, 2-bedrooms: $2,770, 3-bedrooms: $3,750, 4-bedrooms: $3,500. The most common rental property sizes in Deerfield, IL are 2-bedroom and 1-bedroom, accounting for 47.3% and 23.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,760 | $2,980 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,330 | $2,310 |
| 2 Bed Rent | $2,750 | $2,770 |
| 3 Bed Rent | $3,500 | $3,750 |
| 4 Bed Rent | $3,500 | $3,500 |
% of Rental Stock
Property Listings — Deerfield, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Deerfield, IL is 43. This is a increase of 8.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 13.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $709,000 | -22.0% |
Listing Count | 78 | 5.0% |
| Listings as % of Homes | 0.7% | 5.0% |
Days on Market | 43 | 8.0% |
Demographics — Deerfield, IL
As of the latest ACS Survey released in 2023, Deerfield, IL has a population of 27,700, which has remained stable by 1.0% over the past 5 years. Deerfield, IL is a moderately popular place for families, as children make up 23.5% of the population. The area has a highly educated workforce, with 80.0% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 26.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 27,700 | 1.0% |
% Under 18 | 23.5% | -6.0% |
% Seniors | 18.2% | 8.3% |
% WFH | 26.8% | 141.4% |
% w/ College Degree | 80.0% | 7.0% |
As of the latest ACS Survey released in 2023, Deerfield, IL is a predominantly white area, with 84.1% of the population identifying as white. The white population has shrunk by 3.4% in the last 5 years. The second most common race or ethnicity in Deerfield, IL is asian, making up 8.1% of the population. Foreign-born residents account for 14.3% of the population in Deerfield, IL, and this percentage has decreased by 1.4% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 84.1% | -3.4% |
% Black | 1.1% | 10.0% |
% Hispanic | 4.8% | 33.3% |
% Asian | 8.1% | 12.5% |
% Foreign Born | 14.3% | -1.4% |
Mortgage and Risk — Deerfield, IL
According to HUD data as of 2023, there were 335 mortgage originations in Deerfield, IL, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 12.0% above 90% LTV (elevated). This implies medium mortgage risk in Deerfield, IL. Investor activity is low, as 1.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 335 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Deerfield, IL
As of 2024, the percent of homes in Deerfield, IL under the Section 8 program is 8.1%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Deerfield, IL, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 140 |
Total Units Section 8 | 140 |
% Rentals under Section 8 | 8.1% |
% Occupied Section 8 | 92.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $10 | $2,330 | $2,340 |
| 2 Bedroom | -$110 | $2,750 | $2,640 |
| 3 Bedroom | -$110 | $3,500 | $3,390 |
| 4 Bedroom | $480 | $3,500 | $3,980 |
Affordability — Deerfield, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $685,000 |
| Median Household Income | $187,000 |