Clearing, Chicago, IL—60638
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Clearing, Chicago, IL
As of Oct '25, the median home price in Clearing, Chicago, IL is $308,000, with a year-over-year change of 1.7%. This indicates that home prices in Clearing, Chicago, IL are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $308,000 | 1.7% |
| Single Family | $314,000 | 1.6% |
| Condos | $178,000 | -3.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $268,000 | 2.7% |
3 Bed | $314,000 | 1.6% |
4 Bed | $373,000 | 2.2% |
| 5 Bed | $392,000 | 2.3% |
% of Housing Stock
Rental Trends — Clearing, Chicago, IL
As of July '25, Rentcast reports the average rent in Clearing, Chicago, IL is $2,040, with a year-over-year rent change of 1.5%. Per bedroom, the median rent as of July '25 in Clearing, Chicago, IL is studios: $1,420, 1-bedrooms: $1,270, 2-bedrooms: $1,700, 3-bedrooms: $2,490, 4-bedrooms: $3,780. The most common rental property sizes in Clearing, Chicago, IL are 3-bedroom and 2-bedroom, accounting for 35.7% and 29.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,750 | $2,040 |
| Studio Rent | $1,400 | $1,420 |
| 1 Bed Rent | $1,300 | $1,270 |
| 2 Bed Rent | $1,650 | $1,700 |
| 3 Bed Rent | $2,600 | $2,490 |
| 4 Bed Rent | $3,500 | $3,780 |
% of Rental Stock
Property Listings — Clearing, Chicago, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Clearing, Chicago, IL is 32. This is a decrease of -1.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $350,000 | -2.0% |
Listing Count | 116 | -7.0% |
| Listings as % of Homes | 0.6% | -7.0% |
Days on Market | 32 | -1.0% |
Demographics — Clearing, Chicago, IL
As of the latest ACS Survey released in 2023, Clearing, Chicago, IL has a population of 58,200, which has remained stable by -0.9% over the past 5 years. Clearing, Chicago, IL is a moderately popular place for families, as children make up 24.1% of the population. The area has a poorly educated workforce, with 24.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 58,200 | -0.9% |
% Under 18 | 24.1% | -0.8% |
% Seniors | 14.6% | 4.3% |
% WFH | 9.8% | 600.0% |
% w/ College Degree | 24.0% | 22.4% |
As of the latest ACS Survey released in 2023, Clearing, Chicago, IL is a predominantly hispanic area, with 59.6% of the population identifying as hispanic. The hispanic population has grown by 15.1% in the last 5 years. The second most common race or ethnicity in Clearing, Chicago, IL is white, making up 36.1% of the population. Foreign-born residents account for 23.9% of the population in Clearing, Chicago, IL, and this percentage has increased by 18.9% 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 | 36.1% | -17.2% |
% Black | 2.3% | -28.1% |
% Hispanic | 59.6% | 15.1% |
% Asian | 0.9% | 50.0% |
% Foreign Born | 23.9% | 18.9% |
Mortgage and Risk — Clearing, Chicago, IL
According to HUD data as of 2023, there were 857 mortgage originations in Clearing, Chicago, IL, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 40.0% above 90% LTV (very high). This implies large mortgage risk in Clearing, Chicago, IL. Investor activity is low, as 1.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 857 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Clearing, Chicago, IL
As of 2024, the percent of homes in Clearing, Chicago, IL under the Section 8 program is 8.0%. 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 Clearing, 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 | 322 |
Total Units Section 8 | 320 |
% Rentals under Section 8 | 8.0% |
% Occupied Section 8 | 85.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $70 | $1,300 | $1,370 |
| 2 Bedroom | -$100 | $1,650 | $1,550 |
| 3 Bedroom | -$610 | $2,600 | $1,990 |
| 4 Bedroom | -$1,160 | $3,500 | $2,340 |
Affordability — Clearing, Chicago, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $308,000 |
| Median Household Income | $89,200 |