South Elgin, IL 60177 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

South Elgin, IL—60177

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$376,000

3.4% YoY Growth

Household Income

$124,000

32.5% YoY Growth

Days on Market

18.0% Longer YoY

Home Price Forecast

0.6%

Median Rent

$2,250

0.9% YoY Growth

1-Bed Rent

$1,930

0.5% YoY Growth

2-Bed Rent

$2,360

0.9% YoY Growth

3-Bed Rent

$2,740

6.9% YoY Growth

Home Price Trends — South Elgin, IL

As of May '26, the median home price in South Elgin, IL is $376,000, with a year-over-year change of 3.4%. This indicates that home prices in South Elgin, IL are increasing. According to Zillow, the 1-year price projection is 0.6%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$376,000	3.4%
Single Family	$397,000	3.7%
Condos	$256,000	5.8%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — South Elgin, IL

As of July '25, Rentcast reports the average rent in South Elgin, IL is $2,300, with a year-over-year rent change of -0.9%. Per bedroom, the median rent as of July '25 in South Elgin, IL is studios: $1,650, 1-bedrooms: $1,940, 2-bedrooms: $2,280, 3-bedrooms: $2,700, 4-bedrooms: $3,710. The most common rental property sizes in South Elgin, IL are 2-bedroom and 1-bedroom, accounting for 42.7% and 23.5% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$2,250	$2,300
Studio Rent	$1,610	$1,650
1 Bed Rent	$1,930	$1,940
2 Bed Rent	$2,360	$2,280
3 Bed Rent	$2,740	$2,700
4 Bed Rent	$3,350	$3,710

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% of Rental Stock

Studio

10.4%

1 Bedroom

23.5%

2 Bedrooms

42.7%

3 Bedrooms

20.0%

4 Bedrooms

3.4%

Property Listings — South Elgin, IL

As of May '26, Realtor.com reports that the median days on market for a home in South Elgin, IL is 25. This is a increase of 18.0% 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 5.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$389,000	-1.0%
Listing Count	73	1.0%
Listings as % of Homes	1.1%	1.0%
Days on Market	25	18.0%

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Demographics — South Elgin, IL

As of the latest ACS Survey released in 2023, South Elgin, IL has a population of 24,000, which has increased by 4.0% over the past 5 years. South Elgin, IL is a moderately popular place for families, as children make up 23.6% of the population. The area has a moderately educated workforce, with 38.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.8% reporting working from home.

Metric	Latest Census	YoY % Change
Population	24,000	4.0%
% Under 18	23.6%	-18.9%
% Seniors	11.9%	25.3%
% WFH	12.8%	85.5%
% w/ College Degree	38.5%	4.6%

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As of the latest ACS Survey released in 2023, South Elgin, IL is a predominantly white area, with 56.5% of the population identifying as white. The white population has shrunk by 20.3% in the last 5 years. The second most common race or ethnicity in South Elgin, IL is hispanic, making up 21.1% of the population. Foreign-born residents account for 16.3% of the population in South Elgin, IL, and this percentage has increased by 33.6% 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	56.5%	-20.3%
% Black	5.8%	75.8%
% Hispanic	21.1%	15.3%
% Asian	11.8%	114.5%
% Foreign Born	16.3%	33.6%

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Mortgage and Risk — South Elgin, IL

According to HUD data as of 2023, there were 619 mortgage originations in South Elgin, IL, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in South Elgin, IL. Investor activity is low, as 2.0% 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	619
% Conventional Loans	84.0%
% Government Loans	16.0%
% Investor Loans	2.0%
% Second Loans	0.0%
% Cash Out Refinance	9.0%

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Rentals and Section 8 — South Elgin, IL

As of 2024, the percent of homes in South Elgin, IL under the Section 8 program is 6.2%. 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 South Elgin, 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	103
Total Units Section 8	103
% Rentals under Section 8	6.3%
% Occupied Section 8	100.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$50	$1,930	$1,880
2 Bedroom	-$240	$2,360	$2,120
3 Bedroom	-$20	$2,740	$2,720
4 Bedroom	-$150	$3,350	$3,200

South Elgin, IL—60177

Key Metrics at a Glance

Home Price Trends — South Elgin, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — South Elgin, IL

% of Rental Stock

Property Listings — South Elgin, IL

Demographics — South Elgin, IL

Race and Ethnicity

Mortgage and Risk — South Elgin, IL

Mortgages

Rentals and Section 8 — South Elgin, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — South Elgin, IL

Home Price to Income Ratio

South Elgin, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Elgin, IL

Wayne, IL

Saint Charles, IL

Elgin, IL

Campton Hills, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.6
Median Home Price	$376,000
Median Household Income	$124,000

South Elgin, IL—60177

Key Metrics at a Glance

Home Price Trends — South Elgin, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — South Elgin, IL

% of Rental Stock

Property Listings — South Elgin, IL

Demographics — South Elgin, IL

Race and Ethnicity

Mortgage and Risk — South Elgin, IL

Mortgages

Rentals and Section 8 — South Elgin, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — South Elgin, IL

Home Price to Income Ratio

South Elgin, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Elgin, IL

Wayne, IL

Saint Charles, IL

Elgin, IL

Campton Hills, IL

Frequently Asked Questions

What is the average home price in South Elgin, IL 60177?

How have home prices in South Elgin, IL 60177 changed over the past year?

What is the home price projection for South Elgin, IL 60177?

What are the demographics of South Elgin, IL 60177?

How long does it take homes to sell in South Elgin, IL 60177?

What is the average rent price in South Elgin, IL 60177?