South Chicago, Chicago, IL—60617
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — South Chicago, Chicago, IL
As of Oct '25, the median home price in South Chicago, Chicago, IL is $164,000, with a year-over-year change of -1.6%. This indicates that home prices in South Chicago, Chicago, IL are decreasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $164,000 | -1.6% |
| Single Family | $166,000 | -1.2% |
| Condos | $93,000 | -9.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $121,000 | -1.6% |
3 Bed | $168,000 | -1.2% |
4 Bed | $211,000 | 0.0% |
| 5 Bed | $228,000 | 0.4% |
% of Housing Stock
Rental Trends — South Chicago, Chicago, IL
As of July '25, Rentcast reports the average rent in South Chicago, Chicago, IL is $1,590, with a year-over-year rent change of 8.9%. Per bedroom, the median rent as of July '25 in South Chicago, Chicago, IL is studios: $1,920, 1-bedrooms: $1,120, 2-bedrooms: $1,440, 3-bedrooms: $1,780, 4-bedrooms: $2,050. The most common rental property sizes in South Chicago, Chicago, IL are 2-bedroom and 3-bedroom, accounting for 37.6% and 29.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,590 |
| Studio Rent | $850 | $1,920 |
| 1 Bed Rent | $950 | $1,120 |
| 2 Bed Rent | $1,400 | $1,440 |
| 3 Bed Rent | $1,680 | $1,780 |
| 4 Bed Rent | $2,080 | $2,050 |
% of Rental Stock
Property Listings — South Chicago, Chicago, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in South Chicago, Chicago, IL is 40. This is a increase of 2.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $233,000 | 4.0% |
Listing Count | 222 | 0.0% |
| Listings as % of Homes | 0.6% | 0.0% |
Days on Market | 40 | 2.0% |
Demographics — South Chicago, Chicago, IL
As of the latest ACS Survey released in 2023, South Chicago, Chicago, IL has a population of 79,300, which has decreased by -3.9% over the past 5 years. South Chicago, Chicago, IL is a moderately popular place for families, as children make up 24.7% of the population. The area has a poorly educated workforce, with 20.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 79,300 | -3.9% |
% Under 18 | 24.7% | -4.6% |
% Seniors | 17.6% | 13.5% |
% WFH | 10.6% | 324.0% |
% w/ College Degree | 20.2% | 26.2% |
As of the latest ACS Survey released in 2023, South Chicago, Chicago, IL is a predominantly black area, with 52.0% of the population identifying as black. The black population has shrunk by 6.8% in the last 5 years. The second most common race or ethnicity in South Chicago, Chicago, IL is hispanic, making up 40.7% of the population. Foreign-born residents account for 15.4% of the population in South Chicago, Chicago, IL, and this percentage has increased by 4.1% 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 | 5.9% | -6.3% |
% Black | 52.0% | -6.8% |
% Hispanic | 40.7% | 8.0% |
% Asian | 0.3% | 50.0% |
% Foreign Born | 15.4% | 4.1% |
Mortgage and Risk — South Chicago, Chicago, IL
According to HUD data as of 2023, there were 711 mortgage originations in South Chicago, Chicago, IL, of which 59.0% of loans were conventional mortgages. The average loan-to-value was 75.0%, with 53.0% above 90% LTV (very high). This implies large mortgage risk in South Chicago, Chicago, IL. Investor activity is low, as 5.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 711 |
% Conventional Loans | 59.0% |
% Government Loans | 41.0% |
% Investor Loans | 5.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — South Chicago, Chicago, IL
As of 2024, the percent of homes in South Chicago, Chicago, IL under the Section 8 program is 20.2%. 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 units appear to be good home sizes to consider for Section 8 housing in South Chicago, 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 | 3,771 |
Total Units Section 8 | 2,657 |
% Rentals under Section 8 | 20.2% |
% Occupied Section 8 | 87.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $170 | $950 | $1,120 |
| 2 Bedroom | -$130 | $1,400 | $1,270 |
| 3 Bedroom | -$50 | $1,680 | $1,630 |
| 4 Bedroom | -$160 | $2,080 | $1,920 |
Affordability — South Chicago, Chicago, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $164,000 |
| Median Household Income | $51,200 |