Richton Park, IL—60471
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Richton Park, IL
As of Oct '25, the median home price in Richton Park, IL is $210,000, with a year-over-year change of 2.7%. This indicates that home prices in Richton Park, IL are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $210,000 | 2.7% |
| Single Family | $218,000 | 2.8% |
| Condos | $87,000 | -5.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $118,000 | 1.7% |
3 Bed | $201,000 | 3.6% |
4 Bed | $286,000 | 1.8% |
| 5 Bed | $360,000 | 1.1% |
% of Housing Stock
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 |
% of Rental Stock
Property Listings — Richton Park, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Richton Park, IL is 60. This is a decrease of -3.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 42.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $240,000 | 1.0% |
Listing Count | 66 | 45.0% |
| Listings as % of Homes | 0.9% | 45.0% |
Days on Market | 60 | -3.0% |
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% |
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% |
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% |
Loan Activity
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 |
Affordability — Richton Park, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $210,000 |
| Median Household Income | $72,200 |