Morton Grove, IL 60053 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Morton Grove, IL—60053

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$413,000

6.2% YoY Growth

Household Income

$106,000

24.1% YoY Growth

Days on Market

6.0% Longer YoY

Home Price Forecast

1.9%

Median Rent

$1,550

9.3% YoY Growth

1-Bed Rent

$1,500

3.4% YoY Growth

2-Bed Rent

$2,600

11.4% YoY Growth

3-Bed Rent

$3,000

0.0% YoY Growth

Home Price Trends — Morton Grove, IL

As of Dec '25, the median home price in Morton Grove, IL is $413,000, with a year-over-year change of 6.2%. This indicates that home prices in Morton Grove, IL are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$413,000	6.2%
Single Family	$431,000	6.4%
Condos	$287,000	3.6%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Morton Grove, IL

As of July '25, Rentcast reports the average rent in Morton Grove, IL is $2,350, with a year-over-year rent change of 9.3%. Per bedroom, the median rent as of July '25 in Morton Grove, IL is studios: $1,900, 1-bedrooms: $1,500, 2-bedrooms: $2,480, 3-bedrooms: $3,110, 4-bedrooms: $3,500. The most common rental property sizes in Morton Grove, IL are 2-bedroom and 3-bedroom, accounting for 48.1% and 32.7% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,550	$2,350
Studio Rent	$1,900	$1,900
1 Bed Rent	$1,500	$1,500
2 Bed Rent	$2,600	$2,480
3 Bed Rent	$3,000	$3,110
4 Bed Rent	$3,750	$3,500

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% of Rental Stock

Studio

1.3%

1 Bedroom

11.1%

2 Bedrooms

48.1%

3 Bedrooms

32.7%

4 Bedrooms

5.5%

5+ Bedrooms

1.3%

Property Listings — Morton Grove, IL

As of Dec '25, Realtor.com reports that the median days on market for a home in Morton Grove, IL is 43. This is a increase of 9.0% 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 5.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$506,000	18.0%
Listing Count	64	-5.0%
Listings as % of Homes	0.5%	-5.0%
Days on Market	51	6.0%

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Demographics — Morton Grove, IL

As of the latest ACS Survey released in 2023, Morton Grove, IL has a population of 24,700, which has increased by 6.2% over the past 5 years. Morton Grove, IL is a moderately popular place for families, as children make up 22.3% of the population. The area has a highly educated workforce, with 52.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.6% reporting working from home.

Metric	Latest Census	YoY % Change
Population	24,700	6.2%
% Under 18	22.3%	19.9%
% Seniors	22.5%	-7.4%
% WFH	15.6%	160.0%
% w/ College Degree	52.1%	18.1%

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As of the latest ACS Survey released in 2023, Morton Grove, IL is a predominantly white area, with 53.2% of the population identifying as white. The white population has shrunk by 8.7% in the last 5 years. The second most common race or ethnicity in Morton Grove, IL is asian, making up 31.8% of the population. Foreign-born residents account for 38.1% of the population in Morton Grove, IL, and this percentage has decreased by 4.0% 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	53.2%	-8.7%
% Black	1.8%	-40.0%
% Hispanic	7.9%	27.4%
% Asian	31.8%	2.9%
% Foreign Born	38.1%	-4.0%

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Mortgage and Risk — Morton Grove, IL

According to HUD data as of 2023, there were 344 mortgage originations in Morton Grove, IL, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Morton Grove, 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	344
% Conventional Loans	90.0%
% Government Loans	10.0%
% Investor Loans	1.0%
% Second Loans	1.0%
% Cash Out Refinance	8.0%

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Rentals and Section 8 — Morton Grove, IL

As of 2024, the percent of homes in Morton Grove, IL under the Section 8 program is 5.7%. 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. In Morton Grove, IL, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.

Section 8 Market Size

Total Units under HUD	89
Total Units Section 8	89
% Rentals under Section 8	5.7%
% Occupied Section 8	95.4%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$840	$1,500	$2,340
2 Bedroom	$40	$2,600	$2,640
3 Bedroom	$390	$3,000	$3,390
4 Bedroom	$230	$3,750	$3,980

Morton Grove, IL—60053

Key Metrics at a Glance

Home Price Trends — Morton Grove, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Morton Grove, IL

% of Rental Stock

Property Listings — Morton Grove, IL

Demographics — Morton Grove, IL

Race and Ethnicity

Mortgage and Risk — Morton Grove, IL

Mortgages

Rentals and Section 8 — Morton Grove, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Morton Grove, IL

Home Price to Income Ratio

Morton Grove, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Golf

Niles, IL

Skokie, IL

Glenview, IL

Edgebrook, Chicago, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.2
Median Home Price	$413,000
Median Household Income	$106,000

Morton Grove, IL—60053

Key Metrics at a Glance

Home Price Trends — Morton Grove, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Morton Grove, IL

% of Rental Stock

Property Listings — Morton Grove, IL

Demographics — Morton Grove, IL

Race and Ethnicity

Mortgage and Risk — Morton Grove, IL

Mortgages

Rentals and Section 8 — Morton Grove, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Morton Grove, IL

Home Price to Income Ratio

Morton Grove, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Golf

Niles, IL

Skokie, IL

Glenview, IL

Edgebrook, Chicago, IL

Frequently Asked Questions

What is the average home price in Morton Grove, IL 60053?

How have home prices in Morton Grove, IL 60053 changed over the past year?

What is the home price projection for Morton Grove, IL 60053?

What are the demographics of Morton Grove, IL 60053?

How long does it take homes to sell in Morton Grove, IL 60053?

What is the average rent price in Morton Grove, IL 60053?