Hegewisch, Chicago, IL—60633
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hegewisch, Chicago, IL
As of Oct '25, the median home price in Hegewisch, Chicago, IL is $187,000, with a year-over-year change of -0.2%. This indicates that home prices in Hegewisch, Chicago, IL are flat. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $187,000 | -0.2% |
| Single Family | $190,000 | -0.5% |
| Condos | $85,000 | -27.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $137,000 | -2.1% |
3 Bed | $198,000 | 1.0% |
4 Bed | $224,000 | 0.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Hegewisch, Chicago, IL
As of July '25, Rentcast reports the average rent in Hegewisch, Chicago, IL is $1,820, with a year-over-year rent change of 7.7%. Per bedroom, the median rent as of July '25 in Hegewisch, Chicago, IL is 1-bedrooms: $1,150, 2-bedrooms: $1,420, 3-bedrooms: $2,140, 4-bedrooms: $2,520. The most common rental property sizes in Hegewisch, Chicago, IL are 3-bedroom and 2-bedroom, accounting for 43.5% and 23.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,820 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,150 | $1,150 |
| 2 Bed Rent | $1,400 | $1,420 |
| 3 Bed Rent | $1,800 | $2,140 |
| 4 Bed Rent | $2,250 | $2,520 |
% of Rental Stock
Property Listings — Hegewisch, Chicago, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Hegewisch, Chicago, IL is 32. This is a decrease of -5.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $231,000 | 17.0% |
Listing Count | 46 | 25.0% |
| Listings as % of Homes | 0.6% | 25.0% |
Days on Market | 32 | -5.0% |
Demographics — Hegewisch, Chicago, IL
As of the latest ACS Survey released in 2023, Hegewisch, Chicago, IL has a population of 12,500, which has decreased by -3.0% over the past 5 years. Hegewisch, 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 13.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 12,500 | -3.0% |
% Under 18 | 24.7% | 12.3% |
% Seniors | 16.6% | 27.7% |
% WFH | 11.6% | 480.0% |
% w/ College Degree | 13.5% | -9.4% |
As of the latest ACS Survey released in 2023, Hegewisch, Chicago, IL is a predominantly hispanic area, with 44.8% of the population identifying as hispanic. The hispanic population has shrunk by 0.4% in the last 5 years. The second most common race or ethnicity in Hegewisch, Chicago, IL is black, making up 28.9% of the population. Foreign-born residents account for 15.0% of the population in Hegewisch, Chicago, IL, and this percentage has increased by 1.4% 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 | 25.4% | -19.4% |
% Black | 28.9% | 24.6% |
% Hispanic | 44.8% | -0.4% |
% Asian | 0.7% | 133.3% |
% Foreign Born | 15.0% | 1.4% |
Mortgage and Risk — Hegewisch, Chicago, IL
According to HUD data as of 2023, there were 163 mortgage originations in Hegewisch, Chicago, IL, of which 67.0% of loans were conventional mortgages. The average loan-to-value was 77.0%, with 48.0% above 90% LTV (very high). This implies large mortgage risk in Hegewisch, Chicago, IL. Investor activity is low, as 3.0% of loans were by investors. 18.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 163 |
% Conventional Loans | 67.0% |
% Government Loans | 33.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 18.0% |
Loan Activity
Rentals and Section 8 — Hegewisch, Chicago, IL
As of 2024, the percent of homes in Hegewisch, Chicago, IL under the Section 8 program is 11.4%. 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 and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Hegewisch, Chicago, IL, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 230 |
Total Units Section 8 | 230 |
% Rentals under Section 8 | 11.4% |
% Occupied Section 8 | 88.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $130 | $1,150 | $1,280 |
| 2 Bedroom | $50 | $1,400 | $1,450 |
| 3 Bedroom | $60 | $1,800 | $1,860 |
| 4 Bedroom | -$60 | $2,250 | $2,190 |
Affordability — Hegewisch, Chicago, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $187,000 |
| Median Household Income | $56,900 |