Evanston, IL 60203 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Evanston, IL—60203

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$599,000

9.8% YoY Growth

Household Income

$162,000

35.5% YoY Growth

Days on Market

14.0% Longer YoY

Home Price Forecast

1.2%

Median Rent

$3,000

13.8% YoY Growth

1-Bed Rent

N/A

2-Bed Rent

N/A

3-Bed Rent

$3,000

10.8% YoY Growth

Other Zip Codes in Evanston, IL

60202 60201

Home Price Trends — Evanston, IL

As of May '26, the median home price in Evanston, IL is $599,000, with a year-over-year change of 9.8%. This indicates that home prices in Evanston, 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	$599,000	9.8%
Single Family	$648,000	10.0%
Condos	$351,000	11.8%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Evanston, IL

As of July '25, Rentcast reports the average rent in Evanston, IL is $3,300, with a year-over-year rent change of 13.8%. Per bedroom, the median rent as of July '25 in Evanston, IL is 3-bedrooms: $3,300, 4-bedrooms: $3,300. The most common rental property sizes in Evanston, IL are 3-bedroom and 2-bedroom, accounting for 79.6% and 20.4% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$3,000	$3,300
Studio Rent	N/A	N/A
1 Bed Rent	N/A	N/A
2 Bed Rent	N/A	N/A
3 Bed Rent	$3,000	$3,300
4 Bed Rent	$3,300	$3,300

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% of Rental Stock

2 Bedrooms

20.4%

3 Bedrooms

79.6%

Property Listings — Evanston, IL

As of May '26, Realtor.com reports that the median days on market for a home in Evanston, IL is 42. 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 0.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$616,000	22.0%
Listing Count	12	59.0%
Listings as % of Homes	0.5%	59.0%
Days on Market	42	14.0%

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Demographics — Evanston, IL

As of the latest ACS Survey released in 2023, Evanston, IL has a population of 4,730, which has increased by 13.0% over the past 5 years. Evanston, IL is a popular place for families, as children make up 28.5% of the population. The area has a highly educated workforce, with 73.9% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 32.4% reporting working from home.

Metric	Latest Census	YoY % Change
Population	4,730	13.0%
% Under 18	28.5%	7.5%
% Seniors	20.1%	-2.4%
% WFH	32.4%	268.2%
% w/ College Degree	73.9%	-1.1%

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As of the latest ACS Survey released in 2023, Evanston, IL is a predominantly white area, with 67.8% of the population identifying as white. The white population has shrunk by 1.6% in the last 5 years. The second most common race or ethnicity in Evanston, IL is asian, making up 10.8% of the population. Foreign-born residents account for 17.0% of the population in Evanston, IL, and this percentage has increased by 14.9% 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	67.8%	-1.6%
% Black	5.6%	-55.9%
% Hispanic	10.2%	104.0%
% Asian	10.8%	6.9%
% Foreign Born	17.0%	14.9%

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Mortgage and Risk — Evanston, IL

According to HUD data as of 2023, there were 57 mortgage originations in Evanston, IL, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 11.0% above 90% LTV (elevated). This implies medium mortgage risk in Evanston, IL. Investor activity is low, as 0.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	57
% Conventional Loans	96.0%
% Government Loans	4.0%
% Investor Loans	0.0%
% Second Loans	4.0%
% Cash Out Refinance	11.0%

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Rentals and Section 8 — Evanston, IL

Evanston, IL lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	11
Total Units Section 8	11
% Rentals under Section 8	7.8%
% Occupied Section 8	91.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	N/A	N/A	$2,200
2 Bedroom	N/A	N/A	$2,480
3 Bedroom	$190	$3,000	$3,190
4 Bedroom	$440	$3,300	$3,740

Evanston, IL—60203

Key Metrics at a Glance

Other Zip Codes in Evanston, IL

Home Price Trends — Evanston, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Evanston, IL

% of Rental Stock

Property Listings — Evanston, IL

Demographics — Evanston, IL

Race and Ethnicity

Mortgage and Risk — Evanston, IL

Mortgages

Rentals and Section 8 — Evanston, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Evanston, IL

Home Price to Income Ratio

Evanston, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Skokie, IL

Evanston, IL

Wilmette, IL

Evanston, IL

Kenilworth, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3
Median Home Price	$599,000
Median Household Income	$162,000

Evanston, IL—60203

Key Metrics at a Glance

Other Zip Codes in Evanston, IL

Home Price Trends — Evanston, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Evanston, IL

% of Rental Stock

Property Listings — Evanston, IL

Demographics — Evanston, IL

Race and Ethnicity

Mortgage and Risk — Evanston, IL

Mortgages

Rentals and Section 8 — Evanston, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Evanston, IL

Home Price to Income Ratio

Evanston, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Skokie, IL

Evanston, IL

Wilmette, IL

Evanston, IL

Kenilworth, IL

Frequently Asked Questions

What is the average home price in Evanston, IL 60203?

How have home prices in Evanston, IL 60203 changed over the past year?

What is the home price projection for Evanston, IL 60203?

What are the demographics of Evanston, IL 60203?

How long does it take homes to sell in Evanston, IL 60203?

What is the average rent price in Evanston, IL 60203?