Harvey, IL 60426 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Harvey, IL—60426

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$102,000

8.7% YoY Growth

Household Income

$41,000

36.6% YoY Growth

Days on Market

2.0% Shorter YoY

Home Price Forecast

2.5%

Median Rent

$1,650

33.1% YoY Growth

1-Bed Rent

$910

7.6% YoY Growth

2-Bed Rent

$1,800

60.8% YoY Growth

3-Bed Rent

$1,650

15.5% YoY Growth

Home Price Trends — Harvey, IL

As of Dec '25, the median home price in Harvey, IL is $102,000, with a year-over-year change of -8.7%. This indicates that home prices in Harvey, IL are decreasing. According to Zillow, the 1-year price projection is 2.5%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$102,000	-8.7%
Single Family	$103,000	-8.0%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Harvey, IL

As of July '25, Rentcast reports the average rent in Harvey, IL is $1,690, with a year-over-year rent change of 33.1%. Per bedroom, the median rent as of July '25 in Harvey, IL is 1-bedrooms: $910, 2-bedrooms: $1,600, 3-bedrooms: $1,790, 4-bedrooms: $1,900. The most common rental property sizes in Harvey, IL are 3-bedroom and 1-bedroom, accounting for 30.6% and 26.7% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,650	$1,690
Studio Rent	N/A	N/A
1 Bed Rent	$910	$910
2 Bed Rent	$1,800	$1,600
3 Bed Rent	$1,650	$1,790
4 Bed Rent	$1,900	$1,900

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% of Rental Stock

Studio

10.6%

1 Bedroom

26.7%

2 Bedrooms

24.8%

3 Bedrooms

30.6%

4 Bedrooms

5.4%

5+ Bedrooms

2.1%

Property Listings — Harvey, IL

As of Dec '25, Realtor.com reports that the median days on market for a home in Harvey, IL is 44. This is a decrease of -1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 22.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$155,000	8.0%
Listing Count	105	-5.0%
Listings as % of Homes	0.9%	-5.0%
Days on Market	66	-2.0%

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Demographics — Harvey, IL

As of the latest ACS Survey released in 2023, Harvey, IL has a population of 23,100, which has decreased by -20.3% over the past 5 years. Harvey, IL is a moderately popular place for families, as children make up 23.3% of the population. The area has a poorly educated workforce, with 9.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.6% reporting working from home.

Metric	Latest Census	YoY % Change
Population	23,100	-20.3%
% Under 18	23.3%	-12.1%
% Seniors	16.5%	17.9%
% WFH	4.6%	53.3%
% w/ College Degree	9.9%	-7.5%

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As of the latest ACS Survey released in 2023, Harvey, IL is a predominantly black area, with 59.6% of the population identifying as black. The black population has shrunk by 17.7% in the last 5 years. The second most common race or ethnicity in Harvey, IL is hispanic, making up 33.2% of the population. Foreign-born residents account for 17.0% of the population in Harvey, IL, and this percentage has increased by 63.5% 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	2.8%	-15.2%
% Black	59.6%	-17.7%
% Hispanic	33.2%	55.1%
% Asian	2.0%	25.0%
% Foreign Born	17.0%	63.5%

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Mortgage and Risk — Harvey, IL

According to HUD data as of 2023, there were 195 mortgage originations in Harvey, IL, of which 49.0% of loans were conventional mortgages. The average loan-to-value was 78.0%, with 53.0% above 90% LTV (very high). This implies large mortgage risk in Harvey, IL. Investor activity is low, as 2.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	195
% Conventional Loans	49.0%
% Government Loans	51.0%
% Investor Loans	2.0%
% Second Loans	1.0%
% Cash Out Refinance	10.0%

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Rentals and Section 8 — Harvey, IL

As of 2024, the percent of homes in Harvey, IL under the Section 8 program is 18.5%. 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 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Harvey, IL, because HUD payments exceed market rent, while 2-bedroom units do not.

Section 8 Market Size

Total Units under HUD	828
Total Units Section 8	718
% Rentals under Section 8	18.5%
% Occupied Section 8	92.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$300	$910	$1,210
2 Bedroom	-$430	$1,800	$1,370
3 Bedroom	$110	$1,650	$1,760
4 Bedroom	$170	$1,900	$2,070

Harvey, IL—60426

Key Metrics at a Glance

Home Price Trends — Harvey, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Harvey, IL

% of Rental Stock

Property Listings — Harvey, IL

Demographics — Harvey, IL

Race and Ethnicity

Mortgage and Risk — Harvey, IL

Mortgages

Rentals and Section 8 — Harvey, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Harvey, IL

Home Price to Income Ratio

Harvey, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Posen, IL

Markham, IL

Riverdale, IL

Hazel Crest, IL

Homewood, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.5
Median Home Price	$102,000
Median Household Income	$41,000

Harvey, IL—60426

Key Metrics at a Glance

Home Price Trends — Harvey, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Harvey, IL

% of Rental Stock

Property Listings — Harvey, IL

Demographics — Harvey, IL

Race and Ethnicity

Mortgage and Risk — Harvey, IL

Mortgages

Rentals and Section 8 — Harvey, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Harvey, IL

Home Price to Income Ratio

Harvey, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Posen, IL

Markham, IL

Riverdale, IL

Hazel Crest, IL

Homewood, IL

Frequently Asked Questions

What is the average home price in Harvey, IL 60426?

How have home prices in Harvey, IL 60426 changed over the past year?

What is the home price projection for Harvey, IL 60426?

What are the demographics of Harvey, IL 60426?

How long does it take homes to sell in Harvey, IL 60426?

What is the average rent price in Harvey, IL 60426?