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Chinatown, Chicago, IL—60616

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$308,000
2.2% YoY Growth
Household Income
$77,800
69.2% YoY Growth
Days on Market
50
10.0% Shorter YoY
Home Price Forecast
0.7%
Median Rent
$2,450
1.2% YoY Growth
1-Bed Rent
$2,300
8.8% YoY Growth
2-Bed Rent
$3,000
10.5% YoY Growth
3-Bed Rent
$2,800
10.4% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Chinatown, Chicago, IL

As of Dec '25, the median home price in Chinatown, Chicago, IL is $308,000, with a year-over-year change of -2.2%. This indicates that home prices in Chinatown, 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 TypeMedian Home ValueYoY % Change
All Homes
$308,000-2.2%
Single Family $487,0002.7%
Condos $273,0005.4%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • $248,000
    1.6%
    2 Bed
    		$360,0001.1%
    3 Bed
    		$460,0003.6%
    4 Bed
    		$609,0002.4%
    5 Bed $627,0162.8%
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    % of Housing Stock

    Studio
    8.7%
    1 Bedroom
    27.1%
    2 Bedrooms
    33.6%
    3 Bedrooms
    23.8%
    4 Bedrooms
    5.2%
    5+ Bedrooms
    1.6%

    Rental Trends — Chinatown, Chicago, IL

    As of July '25, Rentcast reports the average rent in Chinatown, Chicago, IL is $2,480, with a year-over-year rent change of 1.2%. Per bedroom, the median rent as of July '25 in Chinatown, Chicago, IL is studios: $1,530, 1-bedrooms: $2,230, 2-bedrooms: $2,940, 3-bedrooms: $3,180, 4-bedrooms: $3,370. The most common rental property sizes in Chinatown, Chicago, IL are 1-bedroom and 2-bedroom, accounting for 36.3% and 32.2% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$2,450$2,480
    Studio Rent $1,520$1,530
    1 Bed Rent $2,300$2,230
    2 Bed Rent $3,000$2,940
    3 Bed Rent $2,800$3,180
    4 Bed Rent $3,000$3,370
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    % of Rental Stock

    Studio
    12.9%
    1 Bedroom
    36.3%
    2 Bedrooms
    32.2%
    3 Bedrooms
    16.6%
    4 Bedrooms
    1.5%
    5+ Bedrooms
    0.6%

    Property Listings — Chinatown, Chicago, IL

    As of Dec '25, Realtor.com reports that the median days on market for a home in Chinatown, Chicago, IL is 45. This is a decrease of -10.0% 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 12.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$365,000-1.0%
    Listing Count
    		126-13.0%
    Listings as % of Homes0.6%-13.0%
    Days on Market
    		50-10.0%
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    Demographics — Chinatown, Chicago, IL

    As of the latest ACS Survey released in 2023, Chinatown, Chicago, IL has a population of 54,500, which has remained stable by -0.0% over the past 5 years. Chinatown, Chicago, IL is a less popular place for families, as children make up 13.8% of the population. The area has a highly educated workforce, with 52.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 18.4% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		54,5000.0%
    % Under 18
    		13.8%-8.6%
    % Seniors
    		16.8%5.7%
    % WFH
    		18.4%327.9%
    % w/ College Degree
    		52.9%26.0%
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    As of the latest ACS Survey released in 2023, Chinatown, Chicago, IL is a predominantly asian area, with 36.6% of the population identifying as asian. The asian population has shrunk by 9.6% in the last 5 years. The second most common race or ethnicity in Chinatown, Chicago, IL is white, making up 27.6% of the population. Foreign-born residents account for 34.6% of the population in Chinatown, Chicago, IL, and this percentage has decreased by 7.5% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		27.6%14.0%
    % Black
    		23.7%-5.2%
    % Hispanic
    		8.5%1.2%
    % Asian
    		36.6%-9.6%
    % Foreign Born
    		34.6%-7.5%
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    Mortgage and Risk — Chinatown, Chicago, IL

    According to HUD data as of 2023, there were 421 mortgage originations in Chinatown, Chicago, IL, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 75.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Chinatown, Chicago, IL. Investor activity is low, as 5.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		421
    % Conventional Loans
    		92.0%
    % Government Loans
    		8.0%
    % Investor Loans
    		5.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		5.0%
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    Rentals and Section 8 — Chinatown, Chicago, IL

    As of 2024, the percent of homes in Chinatown, Chicago, IL under the Section 8 program is 16.6%. 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. In Chinatown, 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
    		4,097
    Total Units Section 8
    		2,636
    % Rentals under Section 8
    		16.6%
    % Occupied Section 8
    		89.3%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom-$630$2,300$1,670
    2 Bedroom-$1,120$3,000$1,880
    3 Bedroom-$390$2,800$2,410
    4 Bedroom-$160$3,000$2,840

    Affordability — Chinatown, Chicago, IL

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio4.3
    Median Home Price$308,000
    Median Household Income$77,800

    Chinatown, Chicago, IL — ZIP Code Boundary Map

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    Nearby ZIP Codes

    South Loop, Chicago, IL

    60605

    Bronzeville, Chicago, IL

    60653

    The Loop, Chicago, IL

    60604

    The Loop, Chicago, IL

    60603

    West Loop, Chicago, IL

    60606

    Frequently Asked Questions