Shorewood, IL—60404
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Shorewood, IL
As of Oct '25, the median home price in Shorewood, IL is $405,000, with a year-over-year change of 3.0%. This indicates that home prices in Shorewood, IL are increasing. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $405,000 | 3.0% |
| Single Family | $408,000 | 2.8% |
| Condos | $273,000 | 4.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $299,000 | 3.1% |
3 Bed | $373,000 | 3.0% |
4 Bed | $467,000 | 2.4% |
| 5 Bed | $507,000 | 2.4% |
% of Housing Stock
Rental Trends — Shorewood, IL
As of July '25, Rentcast reports the average rent in Shorewood, IL is $2,840, with a year-over-year rent change of 17.4%. Per bedroom, the median rent as of July '25 in Shorewood, IL is 2-bedrooms: $2,700, 3-bedrooms: $2,970, 4-bedrooms: $2,860. The most common rental property sizes in Shorewood, IL are 3-bedroom and 1-bedroom, accounting for 37.4% and 31.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,000 | $2,840 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $2,400 | $2,700 |
| 3 Bed Rent | $2,970 | $2,970 |
| 4 Bed Rent | $3,250 | $2,860 |
% of Rental Stock
Property Listings — Shorewood, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Shorewood, 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 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $462,000 | 5.0% |
Listing Count | 58 | -11.0% |
| Listings as % of Homes | 0.7% | -11.0% |
Days on Market | 38 | -10.0% |
Demographics — Shorewood, IL
As of the latest ACS Survey released in 2023, Shorewood, IL has a population of 20,100, which has increased by 6.7% over the past 5 years. Shorewood, IL is a moderately popular place for families, as children make up 21.9% of the population. The area has a moderately educated workforce, with 39.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 20,100 | 6.7% |
% Under 18 | 21.9% | -8.4% |
% Seniors | 20.3% | 23.0% |
% WFH | 12.0% | 73.9% |
% w/ College Degree | 39.7% | 1.8% |
As of the latest ACS Survey released in 2023, Shorewood, IL is a predominantly white area, with 76.9% of the population identifying as white. The white population has shrunk by 1.2% in the last 5 years. The second most common race or ethnicity in Shorewood, IL is hispanic, making up 13.4% of the population. Foreign-born residents account for 5.9% of the population in Shorewood, IL, and this percentage has decreased by 4.8% 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 | 76.9% | -1.2% |
% Black | 3.7% | -24.5% |
% Hispanic | 13.4% | 10.7% |
% Asian | 3.0% | 20.0% |
% Foreign Born | 5.9% | -4.8% |
Mortgage and Risk — Shorewood, IL
According to HUD data as of 2023, there were 396 mortgage originations in Shorewood, IL, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Shorewood, IL. Investor activity is low, as 0.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 396 |
% Conventional Loans | 83.0% |
% Government Loans | 17.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Shorewood, IL
Shorewood, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 45 |
Total Units Section 8 | 33 |
% Rentals under Section 8 | 5.6% |
% Occupied Section 8 | 80.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $2,040 |
| 2 Bedroom | -$100 | $2,400 | $2,300 |
| 3 Bedroom | -$20 | $2,970 | $2,950 |
| 4 Bedroom | $220 | $3,250 | $3,470 |
Affordability — Shorewood, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $405,000 |
| Median Household Income | $122,000 |