Back of the Yards, Chicago, IL—60609
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Back of the Yards, Chicago, IL
As of Oct '25, the median home price in Back of the Yards, Chicago, IL is $238,000, with a year-over-year change of -2.6%. This indicates that home prices in Back of the Yards, Chicago, IL are decreasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $238,000 | -2.6% |
| Single Family | $236,000 | 2.6% |
| Condos | $243,000 | -7.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $229,000 | -0.9% |
2 Bed | $182,000 | 3.4% |
3 Bed | $253,000 | 2.4% |
4 Bed | $286,000 | 2.5% |
| 5 Bed | $285,000 | 4.0% |
% of Housing Stock
Rental Trends — Back of the Yards, Chicago, IL
As of July '25, Rentcast reports the average rent in Back of the Yards, Chicago, IL is $1,640, with a year-over-year rent change of 3.1%. Per bedroom, the median rent as of July '25 in Back of the Yards, Chicago, IL is studios: $1,230, 1-bedrooms: $1,230, 2-bedrooms: $1,470, 3-bedrooms: $1,940, 4-bedrooms: $2,250. The most common rental property sizes in Back of the Yards, Chicago, IL are 2-bedroom and 3-bedroom, accounting for 48.2% and 29.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,640 |
| Studio Rent | $1,400 | $1,230 |
| 1 Bed Rent | $1,150 | $1,230 |
| 2 Bed Rent | $1,400 | $1,470 |
| 3 Bed Rent | $1,750 | $1,940 |
| 4 Bed Rent | $2,000 | $2,250 |
% of Rental Stock
Property Listings — Back of the Yards, Chicago, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Back of the Yards, Chicago, IL is 56. This is a increase of 5.0% 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 12.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $271,000 | -7.0% |
Listing Count | 65 | 11.0% |
| Listings as % of Homes | 0.2% | 11.0% |
Days on Market | 56 | 5.0% |
Demographics — Back of the Yards, Chicago, IL
As of the latest ACS Survey released in 2023, Back of the Yards, Chicago, IL has a population of 64,300, which has increased by 4.5% over the past 5 years. Back of the Yards, Chicago, IL is a moderately popular place for families, as children make up 24.9% of the population. The area has a poorly educated workforce, with 20.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 64,300 | 4.5% |
% Under 18 | 24.9% | -7.8% |
% Seniors | 11.5% | 1.8% |
% WFH | 12.9% | 396.2% |
% w/ College Degree | 20.0% | 47.1% |
As of the latest ACS Survey released in 2023, Back of the Yards, Chicago, IL is a predominantly hispanic area, with 57.5% of the population identifying as hispanic. The hispanic population has grown by 7.7% in the last 5 years. The second most common race or ethnicity in Back of the Yards, Chicago, IL is black, making up 21.8% of the population. Foreign-born residents account for 26.5% of the population in Back of the Yards, Chicago, IL, and this percentage has decreased by 2.6% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 12.7% | -14.8% |
% Black | 21.8% | -11.7% |
% Hispanic | 57.5% | 7.7% |
% Asian | 6.2% | -1.6% |
% Foreign Born | 26.5% | -2.6% |
Mortgage and Risk — Back of the Yards, Chicago, IL
According to HUD data as of 2023, there were 344 mortgage originations in Back of the Yards, Chicago, IL, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 40.0% above 90% LTV (very high). This implies large mortgage risk in Back of the Yards, Chicago, IL. Investor activity is low, as 5.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 344 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 5.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Back of the Yards, Chicago, IL
As of 2024, the percent of homes in Back of the Yards, Chicago, IL under the Section 8 program is 8.3%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Back of the Yards, Chicago, IL, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 2,001 |
Total Units Section 8 | 1,130 |
% Rentals under Section 8 | 8.3% |
% Occupied Section 8 | 87.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$70 | $1,150 | $1,080 |
| 2 Bedroom | -$180 | $1,400 | $1,220 |
| 3 Bedroom | -$180 | $1,750 | $1,570 |
| 4 Bedroom | -$160 | $2,000 | $1,840 |
Affordability — Back of the Yards, Chicago, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.3 |
| Median Home Price | $238,000 |
| Median Household Income | $54,100 |