Northbrook, IL—60062
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Northbrook, IL
As of Oct '25, the median home price in Northbrook, IL is $661,000, with a year-over-year change of 6.0%. This indicates that home prices in Northbrook, IL are increasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $661,000 | 6.0% |
| Single Family | $772,000 | 7.7% |
| Condos | $390,000 | -1.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $190,000 | 4.4% |
2 Bed | $387,000 | 5.7% |
3 Bed | $560,000 | 6.7% |
4 Bed | $813,000 | 7.5% |
| 5 Bed | $1,059,000 | 7.2% |
% of Housing Stock
Rental Trends — Northbrook, IL
As of July '25, Rentcast reports the average rent in Northbrook, IL is $3,520, with a year-over-year rent change of 10.7%. Per bedroom, the median rent as of July '25 in Northbrook, IL is studios: $1,280, 1-bedrooms: $2,050, 2-bedrooms: $2,630, 3-bedrooms: $4,060, 4-bedrooms: $4,600. The most common rental property sizes in Northbrook, IL are 2-bedroom and 1-bedroom, accounting for 50.7% and 26.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,400 | $3,520 |
| Studio Rent | $1,280 | $1,280 |
| 1 Bed Rent | $2,120 | $2,050 |
| 2 Bed Rent | $2,700 | $2,630 |
| 3 Bed Rent | $3,800 | $4,060 |
| 4 Bed Rent | $4,500 | $4,600 |
% of Rental Stock
Property Listings — Northbrook, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Northbrook, IL is 44. This is a increase of 14.0% 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 12.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $709,000 | 8.0% |
Listing Count | 148 | 12.0% |
| Listings as % of Homes | 0.7% | 12.0% |
Days on Market | 44 | 14.0% |
Demographics — Northbrook, IL
As of the latest ACS Survey released in 2023, Northbrook, IL has a population of 41,700, which has increased by 3.0% over the past 5 years. Northbrook, IL is a moderately popular place for families, as children make up 20.6% of the population. The area has a highly educated workforce, with 70.6% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 25.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 41,700 | 3.0% |
% Under 18 | 20.6% | -4.6% |
% Seniors | 26.7% | -1.5% |
% WFH | 25.5% | 136.1% |
% w/ College Degree | 70.6% | 6.5% |
As of the latest ACS Survey released in 2023, Northbrook, IL is a predominantly white area, with 70.3% of the population identifying as white. The white population has shrunk by 11.0% in the last 5 years. The second most common race or ethnicity in Northbrook, IL is asian, making up 17.5% of the population. Foreign-born residents account for 24.1% of the population in Northbrook, IL, and this percentage has increased by 12.1% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 70.3% | -11.0% |
% Black | 3.5% | 75.0% |
% Hispanic | 5.2% | 67.7% |
% Asian | 17.5% | 19.9% |
% Foreign Born | 24.1% | 12.1% |
Mortgage and Risk — Northbrook, IL
According to HUD data as of 2023, there were 605 mortgage originations in Northbrook, IL, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 11.0% above 90% LTV (elevated). This implies medium mortgage risk in Northbrook, IL. Investor activity is low, as 1.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 605 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Northbrook, IL
As of 2024, the percent of homes in Northbrook, IL under the Section 8 program is 1.4%. 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 Northbrook, IL, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 45 |
Total Units Section 8 | 45 |
% Rentals under Section 8 | 1.4% |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$20 | $2,120 | $2,100 |
| 2 Bedroom | -$330 | $2,700 | $2,370 |
| 3 Bedroom | -$760 | $3,800 | $3,040 |
| 4 Bedroom | -$920 | $4,500 | $3,580 |
Affordability — Northbrook, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.9 |
| Median Home Price | $661,000 |
| Median Household Income | $143,000 |