Homewood, IL 60430 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Homewood, IL—60430

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$254,000

4.5% YoY Growth

Household Income

$91,400

24.8% YoY Growth

Days on Market

37.0% Longer YoY

Home Price Forecast

1.0%

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 — Homewood, IL

As of May '26, the median home price in Homewood, IL is $254,000, with a year-over-year change of 4.5%. This indicates that home prices in Homewood, 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	$254,000	4.5%
Single Family	$273,000	4.6%
Condos	$130,000	-0.8%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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.

Type	Median Rent	Average Rent
Average Rent	$1,750	$2,010
Studio Rent	N/A	N/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/A	N/A

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% 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 May '26, Realtor.com reports that the median days on market for a home in Homewood, IL is 49. This is a increase of 37.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$230,000	-13.0%
Listing Count	125	30.0%
Listings as % of Homes	1.1%	30.0%
Days on Market	49	37.0%

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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.

Metric	Latest Census	YoY % 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%

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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

Metric	Latest Census	5-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%

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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

Metric	Zip 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%

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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 Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$10	$1,500	$1,510
2 Bedroom	$0	$1,700	$1,700
3 Bedroom	-$520	$2,700	$2,180
4 Bedroom	N/A	N/A	$2,560

Homewood, IL—60430

Key Metrics at a Glance

Home Price Trends — Homewood, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Homewood, IL

% of Rental Stock

Property Listings — Homewood, IL

Demographics — Homewood, IL

Race and Ethnicity

Mortgage and Risk — Homewood, IL

Mortgages

Rentals and Section 8 — Homewood, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Homewood, IL

Home Price to Income Ratio

Homewood, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Hazel Crest, IL

Flossmoor, IL

Glenwood, IL

Harvey, IL

Markham, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.5
Median Home Price	$254,000
Median Household Income	$91,400

Homewood, IL—60430

Key Metrics at a Glance

Home Price Trends — Homewood, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Homewood, IL

% of Rental Stock

Property Listings — Homewood, IL

Demographics — Homewood, IL

Race and Ethnicity

Mortgage and Risk — Homewood, IL

Mortgages

Rentals and Section 8 — Homewood, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Homewood, IL

Home Price to Income Ratio

Homewood, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Hazel Crest, IL

Flossmoor, IL

Glenwood, IL

Harvey, IL

Markham, IL

Frequently Asked Questions

What is the average home price in Homewood, IL 60430?

How have home prices in Homewood, IL 60430 changed over the past year?

What is the home price projection for Homewood, IL 60430?

What are the demographics of Homewood, IL 60430?

How long does it take homes to sell in Homewood, IL 60430?

What is the average rent price in Homewood, IL 60430?