Hoffman Estates, IL—60192
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Hoffman Estates, IL
Home Price Trends — Hoffman Estates, IL
As of Oct '25, the median home price in Hoffman Estates, IL is $478,000, with a year-over-year change of 4.8%. This indicates that home prices in Hoffman Estates, 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 | $478,000 | 4.8% |
| Single Family | $487,000 | 4.7% |
| Condos | $363,000 | 4.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $362,000 | 4.3% |
3 Bed | $405,000 | 4.7% |
4 Bed | $538,000 | 4.5% |
| 5 Bed | $625,000 | 3.5% |
% of Housing Stock
Rental Trends — Hoffman Estates, IL
As of July '25, Rentcast reports the average rent in Hoffman Estates, IL is $3,400, with a year-over-year rent change of 15.6%. Per bedroom, the median rent as of July '25 in Hoffman Estates, IL is 2-bedrooms: $2,900, 3-bedrooms: $2,970, 4-bedrooms: $3,610. The most common rental property sizes in Hoffman Estates, IL are 3-bedroom and 4-bedroom, accounting for 67.4% and 22.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,000 | $3,400 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $2,900 | $2,900 |
| 3 Bed Rent | $2,850 | $2,970 |
| 4 Bed Rent | $3,800 | $3,610 |
% of Rental Stock
Property Listings — Hoffman Estates, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Hoffman Estates, IL is 39. This is a increase of 23.0% 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 19.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $535,000 | 1.0% |
Listing Count | 31 | -17.0% |
| Listings as % of Homes | 0.4% | -17.0% |
Days on Market | 39 | 23.0% |
Demographics — Hoffman Estates, IL
As of the latest ACS Survey released in 2023, Hoffman Estates, IL has a population of 16,700, which has increased by 6.5% over the past 5 years. Hoffman Estates, IL is a moderately popular place for families, as children make up 23.5% of the population. The area has a highly educated workforce, with 58.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 20.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 16,700 | 6.5% |
% Under 18 | 23.5% | -8.6% |
% Seniors | 17.8% | 41.3% |
% WFH | 20.4% | 195.7% |
% w/ College Degree | 58.9% | -3.4% |
As of the latest ACS Survey released in 2023, Hoffman Estates, IL is a predominantly white area, with 54.7% of the population identifying as white. The white population has shrunk by 9.9% in the last 5 years. The second most common race or ethnicity in Hoffman Estates, IL is asian, making up 26.6% of the population. Foreign-born residents account for 27.9% of the population in Hoffman Estates, IL, and this percentage has increased by 18.2% 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 | 54.7% | -9.9% |
% Black | 7.8% | 500.0% |
% Hispanic | 8.5% | 54.5% |
% Asian | 26.6% | -8.9% |
% Foreign Born | 27.9% | 18.2% |
Mortgage and Risk — Hoffman Estates, IL
According to HUD data as of 2023, there were 224 mortgage originations in Hoffman Estates, IL, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Hoffman Estates, IL. Investor activity is low, as 2.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 224 |
% Conventional Loans | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Hoffman Estates, IL
Hoffman Estates, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 23 |
Total Units Section 8 | 23 |
% Rentals under Section 8 | 3.8% |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $2,340 |
| 2 Bedroom | -$260 | $2,900 | $2,640 |
| 3 Bedroom | $540 | $2,850 | $3,390 |
| 4 Bedroom | $180 | $3,800 | $3,980 |
Affordability — Hoffman Estates, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $478,000 |
| Median Household Income | $150,000 |