Lakeview, Chicago, IL—60613
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Lakeview, Chicago, IL
Home Price Trends — Lakeview, Chicago, IL
As of Oct '25, the median home price in Lakeview, Chicago, IL is $320,000, with a year-over-year change of 4.6%. This indicates that home prices in Lakeview, Chicago, 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 | $320,000 | 4.6% |
| Single Family | $1,049,000 | 5.9% |
| Condos | $286,000 | 4.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $216,000 | 5.4% |
2 Bed | $383,000 | 6.4% |
3 Bed | $646,000 | 6.4% |
4 Bed | $1,149,000 | 5.4% |
| 5 Bed | $1,890,000 | 5.2% |
% of Housing Stock
Rental Trends — Lakeview, Chicago, IL
As of July '25, Rentcast reports the average rent in Lakeview, Chicago, IL is $2,340, with a year-over-year rent change of -4.9%. Per bedroom, the median rent as of July '25 in Lakeview, Chicago, IL is studios: $1,470, 1-bedrooms: $1,980, 2-bedrooms: $2,830, 3-bedrooms: $3,620, 4-bedrooms: $4,790. The most common rental property sizes in Lakeview, Chicago, IL are 1-bedroom and 2-bedroom, accounting for 39.7% and 30.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,100 | $2,340 |
| Studio Rent | $1,450 | $1,470 |
| 1 Bed Rent | $1,880 | $1,980 |
| 2 Bed Rent | $2,750 | $2,830 |
| 3 Bed Rent | $3,550 | $3,620 |
| 4 Bed Rent | $4,650 | $4,790 |
% of Rental Stock
Property Listings — Lakeview, Chicago, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Lakeview, Chicago, IL is 28. This is a decrease of -8.0% 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 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $293,000 | -10.0% |
Listing Count | 177 | -16.0% |
| Listings as % of Homes | 0.6% | -16.0% |
Days on Market | 28 | -8.0% |
Demographics — Lakeview, Chicago, IL
As of the latest ACS Survey released in 2023, Lakeview, Chicago, IL has a population of 51,300, which has increased by 2.4% over the past 5 years. Lakeview, Chicago, IL is a less popular place for families, as children make up 11.4% of the population. The area has a highly educated workforce, with 74.7% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 32.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 51,300 | 2.4% |
% Under 18 | 11.4% | -1.7% |
% Seniors | 10.2% | 15.9% |
% WFH | 32.0% | 326.7% |
% w/ College Degree | 74.7% | 0.3% |
As of the latest ACS Survey released in 2023, Lakeview, Chicago, IL is a predominantly white area, with 67.5% of the population identifying as white. The white population has shrunk by 7.5% in the last 5 years. The second most common race or ethnicity in Lakeview, Chicago, IL is hispanic, making up 12.7% of the population. Foreign-born residents account for 16.0% of the population in Lakeview, Chicago, IL, and this percentage has increased by 8.8% 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 | 67.5% | -7.5% |
% Black | 8.1% | 39.7% |
% Hispanic | 12.7% | 12.4% |
% Asian | 8.1% | 22.7% |
% Foreign Born | 16.0% | 8.8% |
Mortgage and Risk — Lakeview, Chicago, IL
According to HUD data as of 2023, there were 803 mortgage originations in Lakeview, Chicago, IL, of which 98.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Lakeview, Chicago, IL. Investor activity is low, as 3.0% of loans were by investors. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 803 |
% Conventional Loans | 98.0% |
% Government Loans | 2.0% |
% Investor Loans | 3.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — Lakeview, Chicago, IL
As of 2024, the percent of homes in Lakeview, Chicago, IL under the Section 8 program is 6.3%. 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. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Lakeview, Chicago, IL, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,819 |
Total Units Section 8 | 1,157 |
% Rentals under Section 8 | 6.3% |
% Occupied Section 8 | 92.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $460 | $1,880 | $2,340 |
| 2 Bedroom | -$110 | $2,750 | $2,640 |
| 3 Bedroom | -$160 | $3,550 | $3,390 |
| 4 Bedroom | -$670 | $4,650 | $3,980 |
Affordability — Lakeview, Chicago, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $320,000 |
| Median Household Income | $91,400 |