Calumet City, IL—60409
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Calumet City, IL
As of Oct '25, the median home price in Calumet City, IL is $151,000, with a year-over-year change of -1.0%. This indicates that home prices in Calumet City, IL are flat. According to Zillow, the 1-year price projection is 0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $151,000 | -1.0% |
| Single Family | $158,000 | -1.9% |
| Condos | $78,000 | -3.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $106,000 | -1.9% |
3 Bed | $160,000 | -1.8% |
4 Bed | $190,000 | -1.6% |
| 5 Bed | $214,000 | -0.5% |
% of Housing Stock
Rental Trends — Calumet City, IL
As of July '25, Rentcast reports the average rent in Calumet City, IL is $1,640, with a year-over-year rent change of 18.8%. Per bedroom, the median rent as of July '25 in Calumet City, IL is studios: $2,000, 1-bedrooms: $1,110, 2-bedrooms: $1,350, 3-bedrooms: $2,020, 4-bedrooms: $2,000. The most common rental property sizes in Calumet City, IL are 2-bedroom and 3-bedroom, accounting for 33.1% and 29.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,600 | $1,640 |
| Studio Rent | $2,000 | $2,000 |
| 1 Bed Rent | $1,100 | $1,110 |
| 2 Bed Rent | $1,400 | $1,350 |
| 3 Bed Rent | $1,920 | $2,020 |
| 4 Bed Rent | $1,900 | $2,000 |
% of Rental Stock
Property Listings — Calumet City, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Calumet City, IL is 60. This is a increase of 30.0% 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 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $173,000 | 0.0% |
Listing Count | 217 | 27.0% |
| Listings as % of Homes | 1.0% | 27.0% |
Days on Market | 60 | 30.0% |
Demographics — Calumet City, IL
As of the latest ACS Survey released in 2023, Calumet City, IL has a population of 35,300, which has decreased by -4.6% over the past 5 years. Calumet City, IL is a moderately popular place for families, as children make up 24.5% of the population. The area has a poorly educated workforce, with 20.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 35,300 | -4.6% |
% Under 18 | 24.5% | -2.4% |
% Seniors | 13.9% | 6.1% |
% WFH | 7.7% | 102.6% |
% w/ College Degree | 20.5% | 17.1% |
As of the latest ACS Survey released in 2023, Calumet City, IL is a predominantly black area, with 74.0% of the population identifying as black. The black population has shrunk by 0.7% in the last 5 years. The second most common race or ethnicity in Calumet City, IL is hispanic, making up 15.4% of the population. Foreign-born residents account for 9.0% of the population in Calumet City, IL, and this percentage has decreased by 7.2% 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 | 7.4% | -23.7% |
% Black | 74.0% | -0.7% |
% Hispanic | 15.4% | 2.0% |
% Asian | 0.2% | 100.0% |
% Foreign Born | 9.0% | -7.2% |
Mortgage and Risk — Calumet City, IL
According to HUD data as of 2023, there were 421 mortgage originations in Calumet City, IL, of which 49.0% of loans were conventional mortgages. The average loan-to-value was 77.0%, with 57.0% above 90% LTV (very high). This implies large mortgage risk in Calumet City, IL. Investor activity is low, as 2.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 421 |
% Conventional Loans | 49.0% |
% Government Loans | 51.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Calumet City, IL
As of 2024, the percent of homes in Calumet City, IL under the Section 8 program is 18.1%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Calumet City, IL, because HUD payments exceed market rent, while 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,365 |
Total Units Section 8 | 1,185 |
% Rentals under Section 8 | 18.1% |
% Occupied Section 8 | 92.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $170 | $1,100 | $1,270 |
| 2 Bedroom | $30 | $1,400 | $1,430 |
| 3 Bedroom | -$80 | $1,920 | $1,840 |
| 4 Bedroom | $260 | $1,900 | $2,160 |
Affordability — Calumet City, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $151,000 |
| Median Household Income | $54,000 |