Park Ridge, IL 60068 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Park Ridge, IL—60068

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$588,000

7.5% YoY Growth

Household Income

$138,000

34.8% YoY Growth

Days on Market

9.0% Longer YoY

Home Price Forecast

1.4%

Median Rent

$2,400

8.0% YoY Growth

1-Bed Rent

$1,600

8.4% YoY Growth

2-Bed Rent

$2,100

4.2% YoY Growth

3-Bed Rent

$3,200

6.4% YoY Growth

Home Price Trends — Park Ridge, IL

As of May '26, the median home price in Park Ridge, IL is $588,000, with a year-over-year change of 7.5%. This indicates that home prices in Park Ridge, IL are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$588,000	7.5%
Single Family	$645,000	7.7%
Condos	$305,000	5.2%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Park Ridge, IL

As of July '25, Rentcast reports the average rent in Park Ridge, IL is $2,420, with a year-over-year rent change of -8.0%. Per bedroom, the median rent as of July '25 in Park Ridge, IL is 1-bedrooms: $1,680, 2-bedrooms: $2,270, 3-bedrooms: $3,140, 4-bedrooms: $4,050. The most common rental property sizes in Park Ridge, IL are 2-bedroom and 1-bedroom, accounting for 40.9% and 29.6% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$2,400	$2,420
Studio Rent	N/A	N/A
1 Bed Rent	$1,600	$1,680
2 Bed Rent	$2,100	$2,270
3 Bed Rent	$3,200	$3,140
4 Bed Rent	$3,800	$4,050

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% of Rental Stock

Studio

2.0%

1 Bedroom

29.6%

2 Bedrooms

40.9%

3 Bedrooms

20.0%

4 Bedrooms

6.6%

5+ Bedrooms

0.9%

Property Listings — Park Ridge, IL

As of May '26, Realtor.com reports that the median days on market for a home in Park Ridge, IL is 30. 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 12.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$649,000	3.0%
Listing Count	96	-10.0%
Listings as % of Homes	0.5%	-10.0%
Days on Market	30	9.0%

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Demographics — Park Ridge, IL

As of the latest ACS Survey released in 2023, Park Ridge, IL has a population of 39,200, which has increased by 4.0% over the past 5 years. Park Ridge, IL is a moderately popular place for families, as children make up 24.4% of the population. The area has a highly educated workforce, with 65.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 21.9% reporting working from home.

Metric	Latest Census	YoY % Change
Population	39,200	4.0%
% Under 18	24.4%	-3.2%
% Seniors	20.2%	5.8%
% WFH	21.9%	200.0%
% w/ College Degree	65.1%	11.3%

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As of the latest ACS Survey released in 2023, Park Ridge, IL is a predominantly white area, with 82.8% of the population identifying as white. The white population has shrunk by 4.6% in the last 5 years. The second most common race or ethnicity in Park Ridge, IL is asian, making up 7.0% of the population. Foreign-born residents account for 15.0% of the population in Park Ridge, IL, and this percentage has increased by 2.0% 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	82.8%	-4.6%
% Black	1.2%	200.0%
% Hispanic	6.0%	0.0%
% Asian	7.0%	59.1%
% Foreign Born	15.0%	2.0%

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Mortgage and Risk — Park Ridge, IL

According to HUD data as of 2023, there were 651 mortgage originations in Park Ridge, IL, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in Park Ridge, IL. Investor activity is low, as 2.0% 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	651
% Conventional Loans	95.0%
% Government Loans	5.0%
% Investor Loans	2.0%
% Second Loans	0.0%
% Cash Out Refinance	8.0%

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Rentals and Section 8 — Park Ridge, IL

As of 2024, the percent of homes in Park Ridge, IL under the Section 8 program is 0.4%. 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. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Park Ridge, 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	7
Total Units Section 8	7
% Rentals under Section 8	0.4%
% Occupied Section 8	N/A

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$110	$1,600	$1,710
2 Bedroom	-$170	$2,100	$1,930
3 Bedroom	-$720	$3,200	$2,480
4 Bedroom	-$890	$3,800	$2,910

Park Ridge, IL—60068

Key Metrics at a Glance

Home Price Trends — Park Ridge, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Park Ridge, IL

% of Rental Stock

Property Listings — Park Ridge, IL

Demographics — Park Ridge, IL

Race and Ethnicity

Mortgage and Risk — Park Ridge, IL

Mortgages

Rentals and Section 8 — Park Ridge, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Park Ridge, IL

Home Price to Income Ratio

Park Ridge, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Edgebrook, Chicago, IL

Niles, IL

O'Hare, Chicago, IL

Harwood Heights, IL

Des Plaines, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.5
Median Home Price	$588,000
Median Household Income	$138,000

Park Ridge, IL—60068

Key Metrics at a Glance

Home Price Trends — Park Ridge, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Park Ridge, IL

% of Rental Stock

Property Listings — Park Ridge, IL

Demographics — Park Ridge, IL

Race and Ethnicity

Mortgage and Risk — Park Ridge, IL

Mortgages

Rentals and Section 8 — Park Ridge, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Park Ridge, IL

Home Price to Income Ratio

Park Ridge, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Edgebrook, Chicago, IL

Niles, IL

O'Hare, Chicago, IL

Harwood Heights, IL

Des Plaines, IL

Frequently Asked Questions

What is the average home price in Park Ridge, IL 60068?

How have home prices in Park Ridge, IL 60068 changed over the past year?

What is the home price projection for Park Ridge, IL 60068?

What are the demographics of Park Ridge, IL 60068?

How long does it take homes to sell in Park Ridge, IL 60068?

What is the average rent price in Park Ridge, IL 60068?