Woodlawn, Chicago, IL—60637
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Woodlawn, Chicago, IL
As of Oct '25, the median home price in Woodlawn, Chicago, IL is $227,000, with a year-over-year change of 0.2%. This indicates that home prices in Woodlawn, Chicago, IL are flat. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $227,000 | 0.2% |
| Single Family | $254,000 | 2.4% |
| Condos | $215,000 | 0.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $156,000 | 3.3% |
2 Bed | $196,000 | 6.5% |
3 Bed | $248,000 | 6.0% |
4 Bed | $324,000 | 2.2% |
| 5 Bed | $532,000 | 2.1% |
% of Housing Stock
Rental Trends — Woodlawn, Chicago, IL
As of July '25, Rentcast reports the average rent in Woodlawn, Chicago, IL is $1,930, with a year-over-year rent change of 5.5%. Per bedroom, the median rent as of July '25 in Woodlawn, Chicago, IL is studios: $1,180, 1-bedrooms: $1,440, 2-bedrooms: $1,740, 3-bedrooms: $2,140, 4-bedrooms: $2,540. The most common rental property sizes in Woodlawn, Chicago, IL are 3-bedroom and 2-bedroom, accounting for 30.7% and 30.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,750 | $1,930 |
| Studio Rent | $1,120 | $1,180 |
| 1 Bed Rent | $1,400 | $1,440 |
| 2 Bed Rent | $1,600 | $1,740 |
| 3 Bed Rent | $2,100 | $2,140 |
| 4 Bed Rent | $2,300 | $2,540 |
% of Rental Stock
Property Listings — Woodlawn, Chicago, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Woodlawn, Chicago, IL is 49. This is a increase of 4.0% 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 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $250,000 | -1.0% |
Listing Count | 156 | 25.0% |
| Listings as % of Homes | 0.4% | 25.0% |
Days on Market | 49 | 4.0% |
Demographics — Woodlawn, Chicago, IL
As of the latest ACS Survey released in 2023, Woodlawn, Chicago, IL has a population of 52,400, which has increased by 10.5% over the past 5 years. Woodlawn, Chicago, IL is a moderately popular place for families, as children make up 23.0% of the population. The area has a moderately educated workforce, with 36.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 52,400 | 10.5% |
% Under 18 | 23.0% | -5.3% |
% Seniors | 13.4% | 16.5% |
% WFH | 15.2% | 162.1% |
% w/ College Degree | 36.8% | 9.9% |
As of the latest ACS Survey released in 2023, Woodlawn, Chicago, IL is a predominantly black area, with 72.9% of the population identifying as black. The black population has shrunk by 4.3% in the last 5 years. The second most common race or ethnicity in Woodlawn, Chicago, IL is white, making up 14.7% of the population. Foreign-born residents account for 8.8% of the population in Woodlawn, Chicago, IL, and this percentage has increased by 29.4% 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 | 14.7% | 1.4% |
% Black | 72.9% | -4.3% |
% Hispanic | 3.3% | 17.9% |
% Asian | 5.5% | 22.2% |
% Foreign Born | 8.8% | 29.4% |
Mortgage and Risk — Woodlawn, Chicago, IL
According to HUD data as of 2023, there were 275 mortgage originations in Woodlawn, Chicago, IL, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 79.0%, with 49.0% above 90% LTV (very high). This implies large mortgage risk in Woodlawn, Chicago, IL. Investor activity is low, as 7.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 275 |
% Conventional Loans | 70.0% |
% Government Loans | 30.0% |
% Investor Loans | 7.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Woodlawn, Chicago, IL
As of 2024, the percent of homes in Woodlawn, Chicago, IL under the Section 8 program is 36.1%. 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. In Woodlawn, Chicago, IL, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 6,567 |
Total Units Section 8 | 6,019 |
% Rentals under Section 8 | 36.1% |
% Occupied Section 8 | 88.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$90 | $1,400 | $1,310 |
| 2 Bedroom | -$120 | $1,600 | $1,480 |
| 3 Bedroom | -$200 | $2,100 | $1,900 |
| 4 Bedroom | -$70 | $2,300 | $2,230 |
Affordability — Woodlawn, Chicago, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.6 |
| Median Home Price | $227,000 |
| Median Household Income | $42,100 |