Highland Park, IL—60035
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Highland Park, IL
As of Oct '25, the median home price in Highland Park, IL is $736,000, with a year-over-year change of 6.2%. This indicates that home prices in Highland Park, 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 | $736,000 | 6.2% |
| Single Family | $800,000 | 5.7% |
| Condos | $375,000 | 5.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $225,000 | 0.4% |
2 Bed | $407,000 | 6.3% |
3 Bed | $601,000 | 5.4% |
4 Bed | $877,000 | 5.4% |
| 5 Bed | $1,312,000 | 7.5% |
% of Housing Stock
Rental Trends — Highland Park, IL
As of July '25, Rentcast reports the average rent in Highland Park, IL is $2,880, with a year-over-year rent change of -0.7%. Per bedroom, the median rent as of July '25 in Highland Park, IL is studios: $1,670, 1-bedrooms: $2,230, 2-bedrooms: $3,210, 3-bedrooms: $4,420, 4-bedrooms: $4,420. The most common rental property sizes in Highland Park, IL are 2-bedroom and 3-bedroom, accounting for 43.2% and 20.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,600 | $2,880 |
| Studio Rent | $1,700 | $1,670 |
| 1 Bed Rent | $2,000 | $2,230 |
| 2 Bed Rent | $3,300 | $3,210 |
| 3 Bed Rent | $4,430 | $4,420 |
| 4 Bed Rent | $4,500 | $4,420 |
% of Rental Stock
Property Listings — Highland Park, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Highland Park, IL is 47. This is a increase of 18.0% 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 17.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,060,000 | 3.0% |
Listing Count | 92 | -8.0% |
| Listings as % of Homes | 0.6% | -8.0% |
Days on Market | 47 | 18.0% |
Demographics — Highland Park, IL
As of the latest ACS Survey released in 2023, Highland Park, IL has a population of 30,200, which has increased by 1.7% over the past 5 years. Highland Park, IL is a moderately popular place for families, as children make up 24.2% of the population. The area has a highly educated workforce, with 76.1% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 25.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 30,200 | 1.7% |
% Under 18 | 24.2% | -1.2% |
% Seniors | 24.6% | 11.8% |
% WFH | 25.2% | 176.9% |
% w/ College Degree | 76.1% | 2.3% |
As of the latest ACS Survey released in 2023, Highland Park, IL is a predominantly white area, with 79.7% of the population identifying as white. The white population has shrunk by 8.5% in the last 5 years. The second most common race or ethnicity in Highland Park, IL is hispanic, making up 12.0% of the population. Foreign-born residents account for 11.3% of the population in Highland Park, IL, and this percentage has decreased by 1.7% 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 | 79.7% | -8.5% |
% Black | 1.6% | 14.3% |
% Hispanic | 12.0% | 64.4% |
% Asian | 3.2% | 33.3% |
% Foreign Born | 11.3% | -1.7% |
Mortgage and Risk — Highland Park, IL
According to HUD data as of 2023, there were 462 mortgage originations in Highland Park, IL, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 13.0% above 90% LTV (elevated). This implies medium mortgage risk in Highland Park, 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 | 462 |
% 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 — Highland Park, IL
As of 2024, the percent of homes in Highland Park, IL under the Section 8 program is 10.3%. 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 units appear to be good home sizes to consider for Section 8 housing in Highland Park, IL, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 192 |
Total Units Section 8 | 192 |
% Rentals under Section 8 | 10.3% |
% Occupied Section 8 | 96.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $210 | $2,000 | $2,210 |
| 2 Bedroom | -$810 | $3,300 | $2,490 |
| 3 Bedroom | -$1,230 | $4,430 | $3,200 |
| 4 Bedroom | -$740 | $4,500 | $3,760 |
Affordability — Highland Park, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $736,000 |
| Median Household Income | $162,000 |