Matteson, IL—60443
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Matteson, IL
As of Oct '25, the median home price in Matteson, IL is $260,000, with a year-over-year change of 0.8%. This indicates that home prices in Matteson, IL are flat. 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 | $260,000 | 0.8% |
| Single Family | $266,000 | 1.1% |
| Condos | $183,000 | -1.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $188,000 | 3.9% |
3 Bed | $234,000 | 3.1% |
4 Bed | $330,000 | 2.5% |
| 5 Bed | $418,000 | 2.7% |
% of Housing Stock
Rental Trends — Matteson, IL
As of July '25, Rentcast reports the average rent in Matteson, IL is $2,380, with a year-over-year rent change of 10.7%. Per bedroom, the median rent as of July '25 in Matteson, IL is 1-bedrooms: $1,250, 2-bedrooms: $1,960, 3-bedrooms: $2,340, 4-bedrooms: $3,480. The most common rental property sizes in Matteson, IL are 3-bedroom and 2-bedroom, accounting for 43.6% and 25.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,200 | $2,380 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,220 | $1,250 |
| 2 Bed Rent | $1,820 | $1,960 |
| 3 Bed Rent | $2,200 | $2,340 |
| 4 Bed Rent | $3,060 | $3,480 |
% of Rental Stock
Property Listings — Matteson, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Matteson, IL is 48. This is a increase of 31.0% 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 36.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $265,000 | -4.0% |
Listing Count | 101 | 24.0% |
| Listings as % of Homes | 0.8% | 24.0% |
Days on Market | 48 | 31.0% |
Demographics — Matteson, IL
As of the latest ACS Survey released in 2023, Matteson, IL has a population of 20,600, which has decreased by -4.4% over the past 5 years. Matteson, IL is a moderately popular place for families, as children make up 21.5% of the population. The area has a moderately educated workforce, with 38.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 18.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 20,600 | -4.4% |
% Under 18 | 21.5% | 7.0% |
% Seniors | 18.1% | 13.1% |
% WFH | 18.4% | 139.0% |
% w/ College Degree | 38.0% | 12.1% |
As of the latest ACS Survey released in 2023, Matteson, IL is a predominantly black area, with 72.2% of the population identifying as black. The black population has shrunk by 2.2% in the last 5 years. The second most common race or ethnicity in Matteson, IL is white, making up 17.9% of the population. Foreign-born residents account for 4.1% of the population in Matteson, IL, and this percentage has increased by 7.9% 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 | 17.9% | 2.3% |
% Black | 72.2% | -2.2% |
% Hispanic | 5.4% | 5.9% |
% Asian | 1.2% | -20.0% |
% Foreign Born | 4.1% | 7.9% |
Mortgage and Risk — Matteson, IL
According to HUD data as of 2023, there were 335 mortgage originations in Matteson, IL, of which 62.0% of loans were conventional mortgages. The average loan-to-value was 76.0%, with 48.0% above 90% LTV (very high). This implies large mortgage risk in Matteson, 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 | 335 |
% Conventional Loans | 62.0% |
% Government Loans | 38.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Matteson, IL
As of 2024, the percent of homes in Matteson, IL under the Section 8 program is 18.9%. 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 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Matteson, IL, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 575 |
Total Units Section 8 | 424 |
% Rentals under Section 8 | 18.9% |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $530 | $1,220 | $1,750 |
| 2 Bedroom | $160 | $1,820 | $1,980 |
| 3 Bedroom | $340 | $2,200 | $2,540 |
| 4 Bedroom | -$70 | $3,060 | $2,990 |
Affordability — Matteson, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $260,000 |
| Median Household Income | $93,900 |