Northlake, IL—60164
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Northlake, IL
As of Oct '25, the median home price in Northlake, IL is $292,000, with a year-over-year change of 2.2%. This indicates that home prices in Northlake, IL are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $292,000 | 2.2% |
| Single Family | $299,000 | 2.4% |
| Condos | $139,000 | 3.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $121,000 | 0.0% |
2 Bed | $254,000 | 2.8% |
3 Bed | $296,000 | 2.1% |
4 Bed | $329,000 | 2.5% |
| 5 Bed | $351,000 | 2.0% |
% of Housing Stock
Rental Trends — Northlake, IL
As of July '25, Rentcast reports the average rent in Northlake, IL is $1,710, with a year-over-year rent change of -9.0%. Per bedroom, the median rent as of July '25 in Northlake, IL is 1-bedrooms: $1,250, 2-bedrooms: $1,770, 3-bedrooms: $2,550. The most common rental property sizes in Northlake, IL are 1-bedroom and 2-bedroom, accounting for 33.5% and 26.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,710 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,200 | $1,250 |
| 2 Bed Rent | $1,500 | $1,770 |
| 3 Bed Rent | $2,500 | $2,550 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Northlake, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Northlake, IL is 44. This is a increase of 44.0% 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 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $277,000 | -13.0% |
Listing Count | 33 | -37.0% |
| Listings as % of Homes | 0.5% | -37.0% |
Days on Market | 44 | 44.0% |
Demographics — Northlake, IL
As of the latest ACS Survey released in 2023, Northlake, IL has a population of 21,200, which has decreased by -1.6% over the past 5 years. Northlake, IL is a moderately popular place for families, as children make up 23.6% of the population. The area has a poorly educated workforce, with 14.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,200 | -1.6% |
% Under 18 | 23.6% | -8.5% |
% Seniors | 16.4% | 28.1% |
% WFH | 7.5% | 226.1% |
% w/ College Degree | 14.5% | 11.5% |
As of the latest ACS Survey released in 2023, Northlake, IL is a predominantly hispanic area, with 63.4% of the population identifying as hispanic. The hispanic population has grown by 2.8% in the last 5 years. The second most common race or ethnicity in Northlake, IL is white, making up 28.1% of the population. Foreign-born residents account for 27.6% of the population in Northlake, IL, and this percentage has decreased by 0.4% 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 | 28.1% | -13.8% |
% Black | 2.8% | -9.7% |
% Hispanic | 63.4% | 2.8% |
% Asian | 4.2% | 110.0% |
% Foreign Born | 27.6% | -0.4% |
Mortgage and Risk — Northlake, IL
According to HUD data as of 2023, there were 216 mortgage originations in Northlake, IL, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 42.0% above 90% LTV (very high). This implies large mortgage risk in Northlake, IL. Investor activity is low, as 1.0% 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 | 216 |
% Conventional Loans | 70.0% |
% Government Loans | 30.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Northlake, IL
Northlake, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 133 |
Total Units Section 8 | 61 |
% Rentals under Section 8 | 3.6% |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $30 | $1,200 | $1,230 |
| 2 Bedroom | -$110 | $1,500 | $1,390 |
| 3 Bedroom | -$710 | $2,500 | $1,790 |
| 4 Bedroom | N/A | N/A | $2,100 |
Affordability — Northlake, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $292,000 |
| Median Household Income | $76,500 |