Hyde Park, Chicago, IL—60615
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hyde Park, Chicago, IL
As of Oct '25, the median home price in Hyde Park, Chicago, IL is $245,000, with a year-over-year change of 1.7%. This indicates that home prices in Hyde Park, Chicago, IL are increasing. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $245,000 | 1.7% |
| Single Family | $535,000 | 2.3% |
| Condos | $212,000 | 3.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $140,000 | 0.7% |
2 Bed | $203,000 | 2.0% |
3 Bed | $323,000 | 2.9% |
4 Bed | $520,000 | 1.2% |
| 5 Bed | $968,000 | 0.8% |
% of Housing Stock
Rental Trends — Hyde Park, Chicago, IL
As of July '25, Rentcast reports the average rent in Hyde Park, Chicago, IL is $2,080, with a year-over-year rent change of 1.5%. Per bedroom, the median rent as of July '25 in Hyde Park, Chicago, IL is studios: $1,220, 1-bedrooms: $1,600, 2-bedrooms: $1,960, 3-bedrooms: $2,530, 4-bedrooms: $3,600. The most common rental property sizes in Hyde Park, Chicago, IL are 1-bedroom and 2-bedroom, accounting for 34.7% and 30.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,850 | $2,080 |
| Studio Rent | $1,160 | $1,220 |
| 1 Bed Rent | $1,600 | $1,600 |
| 2 Bed Rent | $1,900 | $1,960 |
| 3 Bed Rent | $2,500 | $2,530 |
| 4 Bed Rent | $3,580 | $3,600 |
% of Rental Stock
Property Listings — Hyde Park, Chicago, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Hyde Park, Chicago, IL is 38. 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 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $272,000 | -10.0% |
Listing Count | 155 | -12.0% |
| Listings as % of Homes | 0.6% | -12.0% |
Days on Market | 38 | -4.0% |
Demographics — Hyde Park, Chicago, IL
As of the latest ACS Survey released in 2023, Hyde Park, Chicago, IL has a population of 42,800, which has increased by 2.9% over the past 5 years. Hyde Park, Chicago, IL is a moderately popular place for families, as children make up 16.5% of the population. The area has a highly educated workforce, with 61.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 24.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 42,800 | 2.9% |
% Under 18 | 16.5% | 2.5% |
% Seniors | 14.1% | -2.8% |
% WFH | 24.5% | 255.1% |
% w/ College Degree | 61.3% | 4.6% |
As of the latest ACS Survey released in 2023, Hyde Park, Chicago, IL is a predominantly black area, with 56.1% of the population identifying as black. The black population has grown by 1.6% in the last 5 years. The second most common race or ethnicity in Hyde Park, Chicago, IL is white, making up 24.2% of the population. Foreign-born residents account for 12.7% of the population in Hyde Park, Chicago, IL, and this percentage has decreased by 10.6% 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 | 24.2% | -8.3% |
% Black | 56.1% | 1.6% |
% Hispanic | 5.9% | -4.8% |
% Asian | 8.2% | 1.2% |
% Foreign Born | 12.7% | -10.6% |
Mortgage and Risk — Hyde Park, Chicago, IL
According to HUD data as of 2023, there were 344 mortgage originations in Hyde Park, Chicago, IL, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Hyde Park, Chicago, IL. Investor activity is low, as 7.0% 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 | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 7.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Hyde Park, Chicago, IL
As of 2024, the percent of homes in Hyde Park, Chicago, IL under the Section 8 program is 23.6%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Hyde Park, Chicago, IL, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 4,304 |
Total Units Section 8 | 3,760 |
% Rentals under Section 8 | 23.6% |
% Occupied Section 8 | 87.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $240 | $1,600 | $1,840 |
| 2 Bedroom | $180 | $1,900 | $2,080 |
| 3 Bedroom | $170 | $2,500 | $2,670 |
| 4 Bedroom | -$440 | $3,580 | $3,140 |
Affordability — Hyde Park, Chicago, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $245,000 |
| Median Household Income | $62,100 |