Little Village, Chicago, IL—60623
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Little Village, Chicago, IL
As of Oct '25, the median home price in Little Village, Chicago, IL is $205,000, with a year-over-year change of 1.5%. This indicates that home prices in Little Village, 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 | $205,000 | 1.5% |
| Single Family | $209,000 | 0.5% |
| Condos | $164,000 | 16.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $179,000 | 2.3% |
3 Bed | $211,000 | 1.0% |
4 Bed | $236,000 | 3.1% |
| 5 Bed | $267,000 | 3.5% |
% of Housing Stock
Rental Trends — Little Village, Chicago, IL
As of July '25, Rentcast reports the average rent in Little Village, Chicago, IL is $1,670, with a year-over-year rent change of 16.0%. Per bedroom, the median rent as of July '25 in Little Village, Chicago, IL is studios: $1,340, 1-bedrooms: $1,120, 2-bedrooms: $1,450, 3-bedrooms: $1,770, 4-bedrooms: $2,650. The most common rental property sizes in Little Village, Chicago, IL are 2-bedroom and 3-bedroom, accounting for 47.4% and 27.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,600 | $1,670 |
| Studio Rent | $950 | $1,340 |
| 1 Bed Rent | $1,100 | $1,120 |
| 2 Bed Rent | $1,420 | $1,450 |
| 3 Bed Rent | $1,700 | $1,770 |
| 4 Bed Rent | $2,200 | $2,650 |
% of Rental Stock
Property Listings — Little Village, Chicago, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Little Village, Chicago, IL is 22. This is a increase of 17.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $200,000 | 2.0% |
Listing Count | 18 | -37.0% |
| Listings as % of Homes | 0.1% | -37.0% |
Days on Market | 22 | 17.0% |
Demographics — Little Village, Chicago, IL
As of the latest ACS Survey released in 2023, Little Village, Chicago, IL has a population of 77,100, which has decreased by -10.4% over the past 5 years. Little Village, Chicago, IL is a moderately popular place for families, as children make up 24.6% of the population. The area has a poorly educated workforce, with 13.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 77,100 | -10.4% |
% Under 18 | 24.6% | -19.9% |
% Seniors | 14.0% | 53.8% |
% WFH | 6.7% | 116.1% |
% w/ College Degree | 13.7% | 39.8% |
As of the latest ACS Survey released in 2023, Little Village, Chicago, IL is a predominantly hispanic area, with 68.4% of the population identifying as hispanic. The hispanic population has grown by 3.5% in the last 5 years. The second most common race or ethnicity in Little Village, Chicago, IL is black, making up 26.9% of the population. Foreign-born residents account for 31.7% of the population in Little Village, Chicago, IL, and this percentage has increased by 6.0% 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 | 4.0% | 37.9% |
% Black | 26.9% | -13.8% |
% Hispanic | 68.4% | 3.5% |
% Asian | 0.6% | 500.0% |
% Foreign Born | 31.7% | 6.0% |
Mortgage and Risk — Little Village, Chicago, IL
According to HUD data as of 2023, there were 289 mortgage originations in Little Village, Chicago, IL, of which 64.0% of loans were conventional mortgages. The average loan-to-value was 74.0%, with 45.0% above 90% LTV (very high). This implies large mortgage risk in Little Village, Chicago, IL. Investor activity is low, as 9.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 289 |
% Conventional Loans | 64.0% |
% Government Loans | 36.0% |
% Investor Loans | 9.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Little Village, Chicago, IL
As of 2024, the percent of homes in Little Village, Chicago, IL under the Section 8 program is 15.6%. 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 units appear to be good home sizes to consider for Section 8 housing in Little Village, 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 | 2,837 |
Total Units Section 8 | 2,505 |
% Rentals under Section 8 | 15.6% |
% Occupied Section 8 | 86.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $50 | $1,100 | $1,150 |
| 2 Bedroom | -$120 | $1,420 | $1,300 |
| 3 Bedroom | -$30 | $1,700 | $1,670 |
| 4 Bedroom | -$240 | $2,200 | $1,960 |
Affordability — Little Village, Chicago, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.1 |
| Median Home Price | $205,000 |
| Median Household Income | $44,000 |