Richton Park, IL 60471 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Richton Park, IL—60471

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$210,000

2.5% YoY Growth

Household Income

$72,200

29.9% YoY Growth

Days on Market

31.0% Longer YoY

Home Price Forecast

2.3%

Median Rent

$1,800

3.2% YoY Growth

1-Bed Rent

$1,220

14.8% YoY Growth

2-Bed Rent

$1,550

13.7% YoY Growth

3-Bed Rent

$1,950

11.7% YoY Growth

Home Price Trends — Richton Park, IL

As of Dec '25, the median home price in Richton Park, IL is $210,000, with a year-over-year change of 2.5%. This indicates that home prices in Richton Park, IL are increasing. According to Zillow, the 1-year price projection is 2.3%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$210,000	2.5%
Single Family	$218,000	1.9%
Condos	$88,000	-5.4%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Richton Park, IL

As of July '25, Rentcast reports the average rent in Richton Park, IL is $1,820, with a year-over-year rent change of -3.2%. Per bedroom, the median rent as of July '25 in Richton Park, IL is 1-bedrooms: $1,320, 2-bedrooms: $1,380, 3-bedrooms: $2,000, 4-bedrooms: $3,020. The most common rental property sizes in Richton Park, IL are 2-bedroom and 1-bedroom, accounting for 44.1% and 29.5% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,800	$1,820
Studio Rent	N/A	N/A
1 Bed Rent	$1,220	$1,320
2 Bed Rent	$1,550	$1,380
3 Bed Rent	$1,950	$2,000
4 Bed Rent	$3,020	$3,020

Loading chart...

% of Rental Stock

Studio

3.7%

1 Bedroom

29.5%

2 Bedrooms

44.1%

3 Bedrooms

15.8%

4 Bedrooms

6.5%

5+ Bedrooms

0.4%

Property Listings — Richton Park, IL

As of Dec '25, Realtor.com reports that the median days on market for a home in Richton Park, IL is 58. This is a increase of 17.0% 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	$244,000	0.0%
Listing Count	61	47.0%
Listings as % of Homes	0.9%	47.0%
Days on Market	76	31.0%

Loading chart...

Demographics — Richton Park, IL

As of the latest ACS Survey released in 2023, Richton Park, IL has a population of 12,800, which has decreased by -8.6% over the past 5 years. Richton Park, IL is a moderately popular place for families, as children make up 22.0% of the population. The area has a moderately educated workforce, with 30.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.1% reporting working from home.

Metric	Latest Census	YoY % Change
Population	12,800	-8.6%
% Under 18	22.0%	-7.6%
% Seniors	16.0%	40.4%
% WFH	11.1%	184.6%
% w/ College Degree	30.2%	7.5%

Loading chart...

As of the latest ACS Survey released in 2023, Richton Park, IL is a predominantly black area, with 89.2% of the population identifying as black. The black population has grown by 4.8% in the last 5 years. The second most common race or ethnicity in Richton Park, IL is white, making up 7.4% of the population. Foreign-born residents account for 3.4% of the population in Richton Park, IL, and this percentage has increased by 13.3% 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	7.4%	-22.1%
% Black	89.2%	4.8%
% Hispanic	2.3%	-17.9%
% Asian	0.2%	-88.2%
% Foreign Born	3.4%	13.3%

Loading chart...

Mortgage and Risk — Richton Park, IL

According to HUD data as of 2023, there were 219 mortgage originations in Richton Park, IL, of which 54.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 55.0% above 90% LTV (very high). This implies large mortgage risk in Richton Park, IL. Investor activity is low, as 3.0% 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	219
% Conventional Loans	54.0%
% Government Loans	46.0%
% Investor Loans	3.0%
% Second Loans	0.0%
% Cash Out Refinance	12.0%

Loading chart...

Rentals and Section 8 — Richton Park, IL

As of 2024, the percent of homes in Richton Park, IL under the Section 8 program is 17.9%. 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 Richton Park, IL, because HUD payments exceed market rent, while 4-bedroom units do not.

Section 8 Market Size

Total Units under HUD	512
Total Units Section 8	512
% Rentals under Section 8	17.9%
% Occupied Section 8	93.6%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$210	$1,220	$1,430
2 Bedroom	$70	$1,550	$1,620
3 Bedroom	$130	$1,950	$2,080
4 Bedroom	-$580	$3,020	$2,440

Richton Park, IL—60471

Key Metrics at a Glance

Home Price Trends — Richton Park, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Richton Park, IL

% of Rental Stock

Property Listings — Richton Park, IL

Demographics — Richton Park, IL

Race and Ethnicity

Mortgage and Risk — Richton Park, IL

Mortgages

Rentals and Section 8 — Richton Park, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Richton Park, IL

Home Price to Income Ratio

Richton Park, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Matteson, IL

University Park, IL

Park Forest, IL

Olympia Fields, IL

Country Club Hills, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.6
Median Home Price	$210,000
Median Household Income	$72,200

Richton Park, IL—60471

Key Metrics at a Glance

Home Price Trends — Richton Park, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Richton Park, IL

% of Rental Stock

Property Listings — Richton Park, IL

Demographics — Richton Park, IL

Race and Ethnicity

Mortgage and Risk — Richton Park, IL

Mortgages

Rentals and Section 8 — Richton Park, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Richton Park, IL

Home Price to Income Ratio

Richton Park, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Matteson, IL

University Park, IL

Park Forest, IL

Olympia Fields, IL

Country Club Hills, IL

Frequently Asked Questions

What is the average home price in Richton Park, IL 60471?

How have home prices in Richton Park, IL 60471 changed over the past year?

What is the home price projection for Richton Park, IL 60471?

What are the demographics of Richton Park, IL 60471?

How long does it take homes to sell in Richton Park, IL 60471?

What is the average rent price in Richton Park, IL 60471?