View in Interactive Map

Homewood, IL—60430

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$240,000
1.1% YoY Growth
Household Income
$91,400
24.8% YoY Growth
Days on Market
47
1.0% Longer YoY
Home Price Forecast
2.1%
Median Rent
$1,750
2.0% YoY Growth
1-Bed Rent
$1,500
40.9% YoY Growth
2-Bed Rent
$1,700
3.3% YoY Growth
3-Bed Rent
$2,700
3.6% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Homewood, IL

As of Dec '25, the median home price in Homewood, IL is $240,000, with a year-over-year change of 1.1%. This indicates that home prices in Homewood, IL are increasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$240,0001.1%
Single Family $258,0001.2%
Condos $130,000-7.1%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$164,0001.2%
    3 Bed
    		$244,0001.7%
    4 Bed
    		$295,0001.7%
    5 Bed $333,3081.3%
    Loading chart...

    % of Housing Stock

    Studio
    1.1%
    1 Bedroom
    4.7%
    2 Bedrooms
    24.7%
    3 Bedrooms
    38.9%
    4 Bedrooms
    27.5%
    5+ Bedrooms
    3.0%

    Rental Trends — Homewood, IL

    As of July '25, Rentcast reports the average rent in Homewood, IL is $2,010, with a year-over-year rent change of -2.0%. Per bedroom, the median rent as of July '25 in Homewood, IL is 1-bedrooms: $1,620, 2-bedrooms: $1,860, 3-bedrooms: $2,600. The most common rental property sizes in Homewood, IL are 2-bedroom and 3-bedroom, accounting for 41.9% and 30.3% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,750$2,010
    Studio Rent N/AN/A
    1 Bed Rent $1,500$1,620
    2 Bed Rent $1,700$1,860
    3 Bed Rent $2,700$2,600
    4 Bed Rent N/AN/A
    Loading chart...

    % of Rental Stock

    Studio
    4.0%
    1 Bedroom
    14.2%
    2 Bedrooms
    41.9%
    3 Bedrooms
    30.3%
    4 Bedrooms
    8.3%
    5+ Bedrooms
    1.3%

    Property Listings — Homewood, IL

    As of Dec '25, Realtor.com reports that the median days on market for a home in Homewood, IL is 37. This is a increase of 4.0% 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 32.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$250,000-5.0%
    Listing Count
    		12115.0%
    Listings as % of Homes1.1%15.0%
    Days on Market
    		471.0%
    Loading chart...

    Demographics — Homewood, IL

    As of the latest ACS Survey released in 2023, Homewood, IL has a population of 20,000, which has decreased by -1.2% over the past 5 years. Homewood, IL is a popular place for families, as children make up 26.5% of the population. The area has a highly educated workforce, with 46.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.8% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		20,000-1.2%
    % Under 18
    		26.5%7.7%
    % Seniors
    		18.0%6.5%
    % WFH
    		12.8%166.7%
    % w/ College Degree
    		46.1%7.7%
    Loading chart...

    As of the latest ACS Survey released in 2023, Homewood, IL is a predominantly black area, with 44.7% of the population identifying as black. The black population has grown by 4.7% in the last 5 years. The second most common race or ethnicity in Homewood, IL is white, making up 42.0% of the population. Foreign-born residents account for 6.1% of the population in Homewood, IL, and this percentage has decreased by 10.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		42.0%-11.0%
    % Black
    		44.7%4.7%
    % Hispanic
    		8.7%61.1%
    % Asian
    		1.4%-30.0%
    % Foreign Born
    		6.1%-10.3%
    Loading chart...

    Mortgage and Risk — Homewood, IL

    According to HUD data as of 2023, there were 318 mortgage originations in Homewood, IL, of which 67.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 47.0% above 90% LTV (very high). This implies large mortgage risk in Homewood, IL. Investor activity is low, as 2.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		318
    % Conventional Loans
    		67.0%
    % Government Loans
    		33.0%
    % Investor Loans
    		2.0%
    % Second Loans
    		0.0%
    % Cash Out Refinance
    		11.0%
    Loading chart...
    Loading chart...

    Rentals and Section 8 — Homewood, IL

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

    Section 8 Market Size

    Total Units under HUD
    		269
    Total Units Section 8
    		268
    % Rentals under Section 8
    		9.3%
    % Occupied Section 8
    		91.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$10$1,500$1,510
    2 Bedroom$0$1,700$1,700
    3 Bedroom-$520$2,700$2,180
    4 BedroomN/AN/A$2,560

    Affordability — Homewood, IL

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio2.4
    Median Home Price$240,000
    Median Household Income$91,400

    Homewood, IL — ZIP Code Boundary Map

    Loading map...

    Nearby ZIP Codes

    Hazel Crest, IL

    60429

    Flossmoor, IL

    60422

    Glenwood, IL

    60425

    Harvey, IL

    60426

    Markham, IL

    60428

    Frequently Asked Questions