Belmont Cragin, Chicago, IL—60639
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Belmont Cragin, Chicago, IL
As of Oct '25, the median home price in Belmont Cragin, Chicago, IL is $312,000, with a year-over-year change of 2.1%. This indicates that home prices in Belmont Cragin, 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 | $312,000 | 2.1% |
| Single Family | $318,000 | 1.9% |
| Condos | $207,000 | -4.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $265,000 | 3.1% |
3 Bed | $307,000 | 1.3% |
4 Bed | $353,000 | 2.9% |
| 5 Bed | $392,000 | 4.0% |
% of Housing Stock
Rental Trends — Belmont Cragin, Chicago, IL
As of July '25, Rentcast reports the average rent in Belmont Cragin, Chicago, IL is $1,720, with a year-over-year rent change of 4.2%. Per bedroom, the median rent as of July '25 in Belmont Cragin, Chicago, IL is studios: $1,480, 1-bedrooms: $1,270, 2-bedrooms: $1,600, 3-bedrooms: $2,160, 4-bedrooms: $3,030. The most common rental property sizes in Belmont Cragin, Chicago, IL are 2-bedroom and 3-bedroom, accounting for 47.3% and 24.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,600 | $1,720 |
| Studio Rent | $1,370 | $1,480 |
| 1 Bed Rent | $1,250 | $1,270 |
| 2 Bed Rent | $1,600 | $1,600 |
| 3 Bed Rent | $2,000 | $2,160 |
| 4 Bed Rent | $3,200 | $3,030 |
% of Rental Stock
Property Listings — Belmont Cragin, Chicago, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Belmont Cragin, Chicago, IL is 37. This is a decrease of -19.0% 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 8.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $400,000 | 6.0% |
Listing Count | 49 | -26.0% |
| Listings as % of Homes | 0.2% | -26.0% |
Days on Market | 37 | -19.0% |
Demographics — Belmont Cragin, Chicago, IL
As of the latest ACS Survey released in 2023, Belmont Cragin, Chicago, IL has a population of 84,500, which has decreased by -6.6% over the past 5 years. Belmont Cragin, Chicago, IL is a popular place for families, as children make up 25.1% of the population. The area has a poorly educated workforce, with 15.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 84,500 | -6.6% |
% Under 18 | 25.1% | -7.4% |
% Seniors | 14.0% | 55.6% |
% WFH | 6.8% | 240.0% |
% w/ College Degree | 15.2% | 21.6% |
As of the latest ACS Survey released in 2023, Belmont Cragin, Chicago, IL is a predominantly hispanic area, with 76.0% of the population identifying as hispanic. The hispanic population has shrunk by 2.4% in the last 5 years. The second most common race or ethnicity in Belmont Cragin, Chicago, IL is black, making up 12.9% of the population. Foreign-born residents account for 34.5% of the population in Belmont Cragin, Chicago, IL, and this percentage has increased by 6.2% 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 | 9.0% | 34.3% |
% Black | 12.9% | -7.2% |
% Hispanic | 76.0% | -2.4% |
% Asian | 1.8% | 12.5% |
% Foreign Born | 34.5% | 6.2% |
Mortgage and Risk — Belmont Cragin, Chicago, IL
According to HUD data as of 2023, there were 410 mortgage originations in Belmont Cragin, Chicago, IL, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 43.0% above 90% LTV (very high). This implies large mortgage risk in Belmont Cragin, Chicago, IL. Investor activity is low, as 5.0% of loans were by investors. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 410 |
% Conventional Loans | 70.0% |
% Government Loans | 30.0% |
% Investor Loans | 5.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 17.0% |
Loan Activity
Rentals and Section 8 — Belmont Cragin, Chicago, IL
As of 2024, the percent of homes in Belmont Cragin, Chicago, IL under the Section 8 program is 10.3%. 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 Belmont Cragin, 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 | 1,556 |
Total Units Section 8 | 1,426 |
% Rentals under Section 8 | 10.3% |
% Occupied Section 8 | 87.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $110 | $1,250 | $1,360 |
| 2 Bedroom | -$70 | $1,600 | $1,530 |
| 3 Bedroom | -$30 | $2,000 | $1,970 |
| 4 Bedroom | -$890 | $3,200 | $2,310 |
Affordability — Belmont Cragin, Chicago, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.7 |
| Median Home Price | $312,000 |
| Median Household Income | $59,700 |