Old Town, Chicago, IL—60610
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Old Town, Chicago, IL
As of Oct '25, the median home price in Old Town, Chicago, IL is $358,000, with a year-over-year change of -2.1%. This indicates that home prices in Old Town, Chicago, IL are decreasing. 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 | $358,000 | -2.1% |
| Single Family | $788,000 | 1.5% |
| Condos | $339,000 | -0.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $271,000 | 0.7% |
2 Bed | $481,000 | 1.9% |
3 Bed | $872,000 | 2.3% |
4 Bed | $1,368,000 | 1.7% |
| 5 Bed | $2,620,000 | 1.0% |
% of Housing Stock
Rental Trends — Old Town, Chicago, IL
As of July '25, Rentcast reports the average rent in Old Town, Chicago, IL is $2,840, with a year-over-year rent change of -15.5%. Per bedroom, the median rent as of July '25 in Old Town, Chicago, IL is studios: $1,770, 1-bedrooms: $2,700, 2-bedrooms: $3,970, 3-bedrooms: $5,670, 4-bedrooms: $7,530. The most common rental property sizes in Old Town, Chicago, IL are 1-bedroom and studio, accounting for 49.7% and 24.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,520 | $2,840 |
| Studio Rent | $1,640 | $1,770 |
| 1 Bed Rent | $2,600 | $2,700 |
| 2 Bed Rent | $3,950 | $3,970 |
| 3 Bed Rent | $5,500 | $5,670 |
| 4 Bed Rent | $9,850 | $7,530 |
% of Rental Stock
Property Listings — Old Town, Chicago, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Old Town, Chicago, IL is 42. This is a decrease of -9.0% 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 10.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $596,000 | -11.0% |
Listing Count | 269 | -19.0% |
| Listings as % of Homes | 1.1% | -19.0% |
Days on Market | 42 | -9.0% |
Demographics — Old Town, Chicago, IL
As of the latest ACS Survey released in 2023, Old Town, Chicago, IL has a population of 45,300, which has increased by 16.1% over the past 5 years. Old Town, Chicago, IL is a less popular place for families, as children make up 9.0% of the population. The area has a highly educated workforce, with 79.3% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 28.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 45,300 | 16.1% |
% Under 18 | 9.0% | -1.1% |
% Seniors | 14.7% | -5.2% |
% WFH | 28.1% | 255.7% |
% w/ College Degree | 79.3% | 5.7% |
As of the latest ACS Survey released in 2023, Old Town, Chicago, IL is a predominantly white area, with 67.4% of the population identifying as white. The white population has shrunk by 1.9% in the last 5 years. The second most common race or ethnicity in Old Town, Chicago, IL is black, making up 13.9% of the population. Foreign-born residents account for 13.6% of the population in Old Town, Chicago, IL, and this percentage has increased by 3.0% 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 | 67.4% | -1.9% |
% Black | 13.9% | -7.3% |
% Hispanic | 6.1% | -9.0% |
% Asian | 8.7% | 6.1% |
% Foreign Born | 13.6% | 3.0% |
Mortgage and Risk — Old Town, Chicago, IL
According to HUD data as of 2023, there were 638 mortgage originations in Old Town, Chicago, IL, of which 98.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in Old Town, Chicago, IL. Investor activity is low, as 2.0% of loans were by investors. 3.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 638 |
% Conventional Loans | 98.0% |
% Government Loans | 2.0% |
% Investor Loans | 2.0% |
% Second Loans | 5.0% |
% Cash Out Refinance | 3.0% |
Loan Activity
Rentals and Section 8 — Old Town, Chicago, IL
As of 2024, the percent of homes in Old Town, Chicago, IL under the Section 8 program is 14.4%. 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 Old Town, 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 | 4,279 |
Total Units Section 8 | 2,723 |
% Rentals under Section 8 | 14.4% |
% Occupied Section 8 | 91.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$260 | $2,600 | $2,340 |
| 2 Bedroom | -$1,310 | $3,950 | $2,640 |
| 3 Bedroom | -$2,110 | $5,500 | $3,390 |
| 4 Bedroom | -$5,870 | $9,850 | $3,980 |
Affordability — Old Town, Chicago, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $358,000 |
| Median Household Income | $106,000 |