River Grove, IL—60171
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — River Grove, IL
As of Oct '25, the median home price in River Grove, IL is $295,000, with a year-over-year change of 1.3%. This indicates that home prices in River Grove, 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 | $295,000 | 1.3% |
| Single Family | $316,000 | 1.0% |
| Condos | $193,000 | 0.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $160,000 | 3.2% |
2 Bed | $264,000 | 3.9% |
3 Bed | $318,000 | 0.6% |
4 Bed | $360,000 | 1.1% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — River Grove, IL
As of July '25, Rentcast reports the average rent in River Grove, IL is $2,200, with a year-over-year rent change of -10.2%. Per bedroom, the median rent as of July '25 in River Grove, IL is studios: $1,140, 1-bedrooms: $1,770, 2-bedrooms: $2,360, 3-bedrooms: $3,130, 4-bedrooms: $3,680. The most common rental property sizes in River Grove, IL are 2-bedroom and 3-bedroom, accounting for 43.6% and 21.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,300 | $2,200 |
| Studio Rent | $1,150 | $1,140 |
| 1 Bed Rent | $1,850 | $1,770 |
| 2 Bed Rent | $2,500 | $2,360 |
| 3 Bed Rent | $2,500 | $3,130 |
| 4 Bed Rent | $3,350 | $3,680 |
% of Rental Stock
Property Listings — River Grove, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in River Grove, IL is 38. This is a decrease of -10.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $388,000 | -7.0% |
Listing Count | 36 | 77.0% |
| Listings as % of Homes | 0.5% | 77.0% |
Days on Market | 38 | -10.0% |
Demographics — River Grove, IL
As of the latest ACS Survey released in 2023, River Grove, IL has a population of 10,500, which has increased by 3.3% over the past 5 years. River Grove, IL is a moderately popular place for families, as children make up 23.3% of the population. The area has a moderately educated workforce, with 25.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 10,500 | 3.3% |
% Under 18 | 23.3% | 5.9% |
% Seniors | 15.4% | 4.1% |
% WFH | 12.1% | 365.4% |
% w/ College Degree | 25.8% | 34.4% |
As of the latest ACS Survey released in 2023, River Grove, IL is a predominantly white area, with 58.7% of the population identifying as white. The white population has shrunk by 11.1% in the last 5 years. The second most common race or ethnicity in River Grove, IL is hispanic, making up 36.5% of the population. Foreign-born residents account for 25.2% of the population in River Grove, IL, and this percentage has decreased by 26.3% 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 | 58.7% | -11.1% |
% Black | 0.1% | -91.7% |
% Hispanic | 36.5% | 22.9% |
% Asian | 3.5% | 191.7% |
% Foreign Born | 25.2% | -26.3% |
Mortgage and Risk — River Grove, IL
According to HUD data as of 2023, there were 132 mortgage originations in River Grove, IL, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 36.0% above 90% LTV (very high). This implies large mortgage risk in River Grove, IL. Investor activity is low, as 8.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 132 |
% Conventional Loans | 83.0% |
% Government Loans | 17.0% |
% Investor Loans | 8.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — River Grove, IL
As of 2024, the percent of homes in River Grove, IL under the Section 8 program is 0.5%. 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. In River Grove, 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 | 8 |
Total Units Section 8 | 8 |
% Rentals under Section 8 | 0.5% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$480 | $1,850 | $1,370 |
| 2 Bedroom | -$950 | $2,500 | $1,550 |
| 3 Bedroom | -$510 | $2,500 | $1,990 |
| 4 Bedroom | -$1,010 | $3,350 | $2,340 |
Affordability — River Grove, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $295,000 |
| Median Household Income | $74,800 |