North Chicago, IL—60064
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — North Chicago, IL
As of Oct '25, the median home price in North Chicago, IL is $202,000, with a year-over-year change of 6.2%. This indicates that home prices in North Chicago, IL are increasing. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $202,000 | 6.2% |
| Single Family | $205,000 | 5.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $165,000 | 5.8% |
3 Bed | $208,000 | 6.7% |
4 Bed | $224,000 | 6.2% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — North Chicago, IL
As of July '25, Rentcast reports the average rent in North Chicago, IL is $1,610, with a year-over-year rent change of 28.8%. Per bedroom, the median rent as of July '25 in North Chicago, IL is studios: $950, 1-bedrooms: $1,380, 2-bedrooms: $1,370, 3-bedrooms: $1,910, 4-bedrooms: $2,000. The most common rental property sizes in North Chicago, IL are 2-bedroom and 3-bedroom, accounting for 31.9% and 23.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,550 | $1,610 |
| Studio Rent | $950 | $950 |
| 1 Bed Rent | $1,050 | $1,380 |
| 2 Bed Rent | $1,400 | $1,370 |
| 3 Bed Rent | $1,800 | $1,910 |
| 4 Bed Rent | $2,000 | $2,000 |
% of Rental Stock
Property Listings — North Chicago, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in North Chicago, IL is 30. This is a decrease of -39.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $210,000 | 3.0% |
Listing Count | 24 | -26.0% |
| Listings as % of Homes | 0.6% | -26.0% |
Days on Market | 30 | -39.0% |
Demographics — North Chicago, IL
As of the latest ACS Survey released in 2023, North Chicago, IL has a population of 15,000, which has decreased by -4.2% over the past 5 years. North Chicago, IL is a popular place for families, as children make up 26.1% of the population. The area has a poorly educated workforce, with 14.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 15,000 | -4.2% |
% Under 18 | 26.1% | -1.9% |
% Seniors | 11.8% | 12.4% |
% WFH | 8.5% | 150.0% |
% w/ College Degree | 14.9% | 40.6% |
As of the latest ACS Survey released in 2023, North Chicago, IL is a predominantly hispanic area, with 53.6% of the population identifying as hispanic. The hispanic population has grown by 8.5% in the last 5 years. The second most common race or ethnicity in North Chicago, IL is black, making up 32.6% of the population. Foreign-born residents account for 27.3% of the population in North Chicago, IL, and this percentage has increased by 8.3% 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 | 10.5% | 19.3% |
% Black | 32.6% | -9.4% |
% Hispanic | 53.6% | 8.5% |
% Asian | 2.1% | 0.0% |
% Foreign Born | 27.3% | 8.3% |
Mortgage and Risk — North Chicago, IL
According to HUD data as of 2023, there were 117 mortgage originations in North Chicago, IL, of which 69.0% of loans were conventional mortgages. The average loan-to-value was 74.0%, with 43.0% above 90% LTV (very high). This implies large mortgage risk in North Chicago, IL. Investor activity is low, as 7.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 117 |
% Conventional Loans | 69.0% |
% Government Loans | 31.0% |
% Investor Loans | 7.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — North Chicago, IL
As of 2024, the percent of homes in North Chicago, IL under the Section 8 program is 25.0%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In North Chicago, 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 | 866 |
Total Units Section 8 | 717 |
% Rentals under Section 8 | 25.0% |
% Occupied Section 8 | 75.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $230 | $1,050 | $1,280 |
| 2 Bedroom | $40 | $1,400 | $1,440 |
| 3 Bedroom | $50 | $1,800 | $1,850 |
| 4 Bedroom | $170 | $2,000 | $2,170 |
Affordability — North Chicago, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $202,000 |
| Median Household Income | $49,300 |