Skokie, IL—60077
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Skokie, IL
Home Price Trends — Skokie, IL
As of Oct '25, the median home price in Skokie, IL is $349,000, with a year-over-year change of 2.1%. This indicates that home prices in Skokie, IL are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $349,000 | 2.1% |
| Single Family | $420,000 | 6.3% |
| Condos | $261,000 | -2.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $185,000 | 1.1% |
2 Bed | $288,000 | 3.6% |
3 Bed | $402,000 | 6.3% |
4 Bed | $491,000 | 7.9% |
| 5 Bed | $633,000 | 8.0% |
% of Housing Stock
Rental Trends — Skokie, IL
As of July '25, Rentcast reports the average rent in Skokie, IL is $2,220, with a year-over-year rent change of -5.1%. Per bedroom, the median rent as of July '25 in Skokie, IL is studios: $1,510, 1-bedrooms: $1,760, 2-bedrooms: $2,220, 3-bedrooms: $2,660, 4-bedrooms: $6,800. The most common rental property sizes in Skokie, IL are 2-bedroom and 1-bedroom, accounting for 45.5% and 36.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,100 | $2,220 |
| Studio Rent | $1,400 | $1,510 |
| 1 Bed Rent | $1,580 | $1,760 |
| 2 Bed Rent | $1,800 | $2,220 |
| 3 Bed Rent | $2,450 | $2,660 |
| 4 Bed Rent | $6,800 | $6,800 |
% of Rental Stock
Property Listings — Skokie, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Skokie, IL is 31. 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 14.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $410,000 | 8.0% |
Listing Count | 72 | -4.0% |
| Listings as % of Homes | 0.4% | -4.0% |
Days on Market | 31 | 14.0% |
Demographics — Skokie, IL
As of the latest ACS Survey released in 2023, Skokie, IL has a population of 28,700, which has increased by 1.1% over the past 5 years. Skokie, IL is a moderately popular place for families, as children make up 20.4% of the population. The area has a highly educated workforce, with 45.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,700 | 1.1% |
% Under 18 | 20.4% | -6.4% |
% Seniors | 19.5% | 3.2% |
% WFH | 13.5% | 237.5% |
% w/ College Degree | 45.8% | 5.5% |
As of the latest ACS Survey released in 2023, Skokie, IL is a predominantly white area, with 45.0% of the population identifying as white. The white population has shrunk by 5.5% in the last 5 years. The second most common race or ethnicity in Skokie, IL is asian, making up 28.9% of the population. Foreign-born residents account for 42.8% of the population in Skokie, IL, and this percentage has decreased by 5.5% 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 | 45.0% | -5.5% |
% Black | 10.3% | 60.9% |
% Hispanic | 12.2% | -8.3% |
% Asian | 28.9% | 1.8% |
% Foreign Born | 42.8% | -5.5% |
Mortgage and Risk — Skokie, IL
According to HUD data as of 2023, there were 279 mortgage originations in Skokie, IL, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Skokie, IL. Investor activity is low, as 4.0% 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 | 279 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Skokie, IL
As of 2024, the percent of homes in Skokie, IL under the Section 8 program is 13.5%. 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 Skokie, 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 | 477 |
Total Units Section 8 | 477 |
% Rentals under Section 8 | 13.5% |
% Occupied Section 8 | 94.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $10 | $1,580 | $1,590 |
| 2 Bedroom | $0 | $1,800 | $1,800 |
| 3 Bedroom | -$140 | $2,450 | $2,310 |
| 4 Bedroom | -$4,080 | $6,800 | $2,720 |
Affordability — Skokie, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.9 |
| Median Home Price | $349,000 |
| Median Household Income | $80,800 |