Marquette Park, Chicago, IL—60629
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Marquette Park, Chicago, IL
As of Oct '25, the median home price in Marquette Park, Chicago, IL is $261,000, with a year-over-year change of 4.9%. This indicates that home prices in Marquette 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 | $261,000 | 4.9% |
| Single Family | $263,000 | 4.8% |
| Condos | $158,000 | 1.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $234,000 | 4.5% |
3 Bed | $260,000 | 4.4% |
4 Bed | $291,000 | 4.3% |
| 5 Bed | $315,000 | 4.0% |
% of Housing Stock
Rental Trends — Marquette Park, Chicago, IL
As of July '25, Rentcast reports the average rent in Marquette Park, Chicago, IL is $1,620, with a year-over-year rent change of 2.5%. Per bedroom, the median rent as of July '25 in Marquette Park, Chicago, IL is studios: $1,140, 1-bedrooms: $1,440, 2-bedrooms: $1,500, 3-bedrooms: $1,780, 4-bedrooms: $2,680. The most common rental property sizes in Marquette Park, Chicago, IL are 2-bedroom and 3-bedroom, accounting for 50.0% and 18.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,620 |
| Studio Rent | $1,200 | $1,140 |
| 1 Bed Rent | $1,300 | $1,440 |
| 2 Bed Rent | $1,450 | $1,500 |
| 3 Bed Rent | $1,700 | $1,780 |
| 4 Bed Rent | $2,600 | $2,680 |
% of Rental Stock
Property Listings — Marquette Park, Chicago, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Marquette Park, Chicago, IL is 36. This is a decrease of 0.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $302,000 | 4.0% |
Listing Count | 117 | -4.0% |
| Listings as % of Homes | 0.3% | -4.0% |
Days on Market | 36 | 0.0% |
Demographics — Marquette Park, Chicago, IL
As of the latest ACS Survey released in 2023, Marquette Park, Chicago, IL has a population of 109,000, which has decreased by -2.3% over the past 5 years. Marquette Park, Chicago, IL is a popular place for families, as children make up 25.5% of the population. The area has a poorly educated workforce, with 14.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 109,000 | -2.3% |
% Under 18 | 25.5% | -11.8% |
% Seniors | 12.9% | 30.3% |
% WFH | 5.2% | 205.9% |
% w/ College Degree | 14.3% | 55.4% |
As of the latest ACS Survey released in 2023, Marquette Park, Chicago, IL is a predominantly hispanic area, with 76.4% of the population identifying as hispanic. The hispanic population has grown by 7.6% in the last 5 years. The second most common race or ethnicity in Marquette Park, Chicago, IL is black, making up 16.5% of the population. Foreign-born residents account for 32.3% of the population in Marquette Park, Chicago, IL, and this percentage has increased by 5.2% 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 | 5.5% | -32.9% |
% Black | 16.5% | -16.2% |
% Hispanic | 76.4% | 7.6% |
% Asian | 1.1% | 175.0% |
% Foreign Born | 32.3% | 5.2% |
Mortgage and Risk — Marquette Park, Chicago, IL
According to HUD data as of 2023, there were 749 mortgage originations in Marquette Park, Chicago, IL, of which 73.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 38.0% above 90% LTV (very high). This implies large mortgage risk in Marquette Park, Chicago, IL. Investor activity is low, as 2.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 749 |
% Conventional Loans | 73.0% |
% Government Loans | 27.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Marquette Park, Chicago, IL
As of 2024, the percent of homes in Marquette Park, Chicago, IL under the Section 8 program is 9.6%. 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. 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Marquette Park, Chicago, IL, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,275 |
Total Units Section 8 | 1,224 |
% Rentals under Section 8 | 9.6% |
% Occupied Section 8 | 86.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$120 | $1,300 | $1,180 |
| 2 Bedroom | -$120 | $1,450 | $1,330 |
| 3 Bedroom | $10 | $1,700 | $1,710 |
| 4 Bedroom | -$590 | $2,600 | $2,010 |
Affordability — Marquette Park, Chicago, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.9 |
| Median Home Price | $261,000 |
| Median Household Income | $58,800 |