Steger, IL—60475
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Steger, IL
As of Oct '25, the median home price in Steger, IL is $172,000, with a year-over-year change of -1.2%. This indicates that home prices in Steger, IL are decreasing. According to Zillow, the 1-year price projection is 0.6%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $172,000 | -1.3% |
| Single Family | $171,000 | -2.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $121,000 | 0.0% |
3 Bed | $171,000 | -1.2% |
4 Bed | $222,000 | -1.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Steger, IL
As of July '25, Rentcast reports the average rent in Steger, IL is $1,610, with a year-over-year rent change of 33.1%. Per bedroom, the median rent as of July '25 in Steger, IL is 2-bedrooms: $1,400, 3-bedrooms: $1,750, 4-bedrooms: $2,200. The most common rental property sizes in Steger, IL are 1-bedroom and 2-bedroom, accounting for 53.1% and 26.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,480 | $1,610 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,350 | $1,400 |
| 3 Bed Rent | $1,700 | $1,750 |
| 4 Bed Rent | $2,200 | $2,200 |
% of Rental Stock
Property Listings — Steger, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Steger, IL is 45. This is a increase of 70.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $196,000 | 21.0% |
Listing Count | 41 | 27.0% |
| Listings as % of Homes | 0.7% | 27.0% |
Days on Market | 45 | 70.0% |
Demographics — Steger, IL
As of the latest ACS Survey released in 2023, Steger, IL has a population of 10,100, which has increased by 4.4% over the past 5 years. Steger, IL is a moderately popular place for families, as children make up 21.2% of the population. The area has a poorly educated workforce, with 16.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 10,100 | 4.4% |
% Under 18 | 21.2% | 1.9% |
% Seniors | 20.8% | 56.4% |
% WFH | 8.7% | 210.7% |
% w/ College Degree | 16.5% | 2.5% |
As of the latest ACS Survey released in 2023, Steger, IL is a predominantly white area, with 51.6% of the population identifying as white. The white population has shrunk by 9.6% in the last 5 years. The second most common race or ethnicity in Steger, IL is hispanic, making up 23.1% of the population. Foreign-born residents account for 7.2% of the population in Steger, IL, and this percentage has increased by 2.9% 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 | 51.6% | -9.6% |
% Black | 19.2% | -23.5% |
% Hispanic | 23.1% | 50.0% |
% Asian | 1.1% | 0.0% |
% Foreign Born | 7.2% | 2.9% |
Mortgage and Risk — Steger, IL
According to HUD data as of 2023, there were 109 mortgage originations in Steger, IL, of which 63.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 51.0% above 90% LTV (very high). This implies large mortgage risk in Steger, IL. Investor activity is low, as 3.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 109 |
% Conventional Loans | 63.0% |
% Government Loans | 37.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Steger, IL
Steger, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 34 |
Total Units Section 8 | 34 |
% Rentals under Section 8 | 1.6% |
% Occupied Section 8 | 84.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,120 |
| 2 Bedroom | -$80 | $1,350 | $1,270 |
| 3 Bedroom | -$70 | $1,700 | $1,630 |
| 4 Bedroom | -$280 | $2,200 | $1,920 |
Affordability — Steger, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $172,000 |
| Median Household Income | $61,200 |