University Park, IL—60484
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — University Park, IL
As of Oct '25, the median home price in University Park, IL is $187,000, with a year-over-year change of 3.9%. This indicates that home prices in University Park, IL are increasing. According to Zillow, the 1-year price projection is 0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $187,000 | 3.9% |
| Single Family | $192,000 | 3.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $181,000 | 4.0% |
4 Bed | $256,000 | 3.6% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — University Park, IL
As of July '25, Rentcast reports the average rent in University Park, IL is $2,050, with a year-over-year rent change of 4.6%. Per bedroom, the median rent as of July '25 in University Park, IL is 1-bedrooms: $1,590, 3-bedrooms: $2,110, 4-bedrooms: $2,400. The most common rental property sizes in University Park, IL are 3-bedroom and 1-bedroom, accounting for 46.9% and 24.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,820 | $2,050 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,590 | $1,590 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $1,820 | $2,110 |
| 4 Bed Rent | $2,400 | $2,400 |
% of Rental Stock
Property Listings — University Park, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in University Park, IL is 35. This is a decrease of -4.0% 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 13.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $205,000 | 3.0% |
Listing Count | 30 | -23.0% |
| Listings as % of Homes | 1.0% | -23.0% |
Days on Market | 35 | -4.0% |
Demographics — University Park, IL
As of the latest ACS Survey released in 2023, University Park, IL has a population of 6,610, which has remained stable by 0.5% over the past 5 years. University Park, IL is a popular place for families, as children make up 29.1% of the population. The area has a poorly educated workforce, with 24.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 6,610 | 0.5% |
% Under 18 | 29.1% | 7.0% |
% Seniors | 10.3% | -3.7% |
% WFH | 7.7% | 208.0% |
% w/ College Degree | 24.9% | -9.8% |
As of the latest ACS Survey released in 2023, University Park, IL is a predominantly black area, with 86.2% of the population identifying as black. The black population has grown by 0.5% in the last 5 years. The second most common race or ethnicity in University Park, IL is white, making up 8.1% of the population. Foreign-born residents account for 4.5% of the population in University Park, IL, and this percentage has increased by 104.5% 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 | 8.1% | 8.0% |
% Black | 86.2% | 0.5% |
% Hispanic | 5.6% | 80.6% |
% Asian | 0.1% | -75.0% |
% Foreign Born | 4.5% | 104.5% |
Mortgage and Risk — University Park, IL
According to HUD data as of 2023, there were 135 mortgage originations in University Park, IL, of which 55.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 52.0% above 90% LTV (very high). This implies large mortgage risk in University Park, IL. Investor activity is low, as 1.0% 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 | 135 |
% Conventional Loans | 55.0% |
% Government Loans | 45.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — University Park, IL
University Park, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 381 |
Total Units Section 8 | 314 |
% Rentals under Section 8 | 39.9% |
% Occupied Section 8 | 81.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$150 | $1,590 | $1,440 |
| 2 Bedroom | N/A | N/A | $1,630 |
| 3 Bedroom | $270 | $1,820 | $2,090 |
| 4 Bedroom | $60 | $2,400 | $2,460 |
Affordability — University Park, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $187,000 |
| Median Household Income | $64,300 |