Avondale, Chicago, IL—60618
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Avondale, Chicago, IL
As of Oct '25, the median home price in Avondale, Chicago, IL is $524,000, with a year-over-year change of 3.0%. This indicates that home prices in Avondale, Chicago, IL are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $524,000 | 3.0% |
| Single Family | $685,000 | 6.0% |
| Condos | $398,000 | -1.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $241,000 | 5.7% |
2 Bed | $384,000 | 7.6% |
3 Bed | $586,000 | 6.2% |
4 Bed | $859,000 | 4.6% |
| 5 Bed | $1,373,000 | 5.9% |
% of Housing Stock
Rental Trends — Avondale, Chicago, IL
As of July '25, Rentcast reports the average rent in Avondale, Chicago, IL is $2,260, with a year-over-year rent change of -3.4%. Per bedroom, the median rent as of July '25 in Avondale, Chicago, IL is studios: $1,320, 1-bedrooms: $1,640, 2-bedrooms: $2,300, 3-bedrooms: $2,930, 4-bedrooms: $3,800. The most common rental property sizes in Avondale, Chicago, IL are 2-bedroom and 1-bedroom, accounting for 49.3% and 23.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,000 | $2,260 |
| Studio Rent | $1,320 | $1,320 |
| 1 Bed Rent | $1,600 | $1,640 |
| 2 Bed Rent | $2,200 | $2,300 |
| 3 Bed Rent | $3,000 | $2,930 |
| 4 Bed Rent | $3,600 | $3,800 |
% of Rental Stock
Property Listings — Avondale, Chicago, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Avondale, Chicago, IL is 29. 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 11.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $599,000 | 11.0% |
Listing Count | 177 | 7.0% |
| Listings as % of Homes | 0.4% | 7.0% |
Days on Market | 29 | 2.0% |
Demographics — Avondale, Chicago, IL
As of the latest ACS Survey released in 2023, Avondale, Chicago, IL has a population of 91,900, which has decreased by -2.6% over the past 5 years. Avondale, Chicago, IL is a moderately popular place for families, as children make up 21.6% of the population. The area has a highly educated workforce, with 55.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 24.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 91,900 | -2.6% |
% Under 18 | 21.6% | -0.5% |
% Seniors | 9.7% | 7.8% |
% WFH | 24.1% | 254.4% |
% w/ College Degree | 55.4% | 18.1% |
As of the latest ACS Survey released in 2023, Avondale, Chicago, IL is a predominantly white area, with 48.2% of the population identifying as white. The white population has shrunk by 0.2% in the last 5 years. The second most common race or ethnicity in Avondale, Chicago, IL is hispanic, making up 38.3% of the population. Foreign-born residents account for 21.4% of the population in Avondale, Chicago, IL, and this percentage has decreased by 16.7% 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 | 48.2% | -0.2% |
% Black | 3.2% | 33.3% |
% Hispanic | 38.3% | -5.2% |
% Asian | 6.8% | 9.7% |
% Foreign Born | 21.4% | -16.7% |
Mortgage and Risk — Avondale, Chicago, IL
According to HUD data as of 2023, there were 1060 mortgage originations in Avondale, Chicago, IL, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in Avondale, Chicago, IL. Investor activity is low, as 4.0% 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 | 1,060 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Avondale, Chicago, IL
As of 2024, the percent of homes in Avondale, Chicago, IL under the Section 8 program is 4.5%. 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 Avondale, 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 | 1,093 |
Total Units Section 8 | 861 |
% Rentals under Section 8 | 4.5% |
% Occupied Section 8 | 88.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $90 | $1,600 | $1,690 |
| 2 Bedroom | -$290 | $2,200 | $1,910 |
| 3 Bedroom | -$550 | $3,000 | $2,450 |
| 4 Bedroom | -$720 | $3,600 | $2,880 |
Affordability — Avondale, Chicago, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.8 |
| Median Home Price | $524,000 |
| Median Household Income | $102,000 |