Austin, Chicago, IL—60644
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Austin, Chicago, IL
As of Oct '25, the median home price in Austin, Chicago, IL is $202,000, with a year-over-year change of -2.2%. This indicates that home prices in Austin, Chicago, IL are decreasing. 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 | $202,000 | -2.2% |
| Single Family | $210,000 | -1.4% |
| Condos | $128,000 | -2.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $144,000 | 0.7% |
3 Bed | $201,000 | -2.9% |
4 Bed | $252,000 | -0.8% |
| 5 Bed | $296,000 | 0.0% |
% of Housing Stock
Rental Trends — Austin, Chicago, IL
As of July '25, Rentcast reports the average rent in Austin, Chicago, IL is $1,540, with a year-over-year rent change of 15.8%. Per bedroom, the median rent as of July '25 in Austin, Chicago, IL is studios: $1,240, 1-bedrooms: $1,090, 2-bedrooms: $1,450, 3-bedrooms: $1,800, 4-bedrooms: $1,880. The most common rental property sizes in Austin, Chicago, IL are 2-bedroom and 1-bedroom, accounting for 30.7% and 28.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,540 |
| Studio Rent | $1,200 | $1,240 |
| 1 Bed Rent | $1,100 | $1,090 |
| 2 Bed Rent | $1,450 | $1,450 |
| 3 Bed Rent | $1,700 | $1,800 |
| 4 Bed Rent | $1,850 | $1,880 |
% of Rental Stock
Property Listings — Austin, Chicago, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Austin, Chicago, IL is 42. This is a decrease of -24.0% 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 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $353,000 | 35.0% |
Listing Count | 33 | -31.0% |
| Listings as % of Homes | 0.2% | -31.0% |
Days on Market | 42 | -24.0% |
Demographics — Austin, Chicago, IL
As of the latest ACS Survey released in 2023, Austin, Chicago, IL has a population of 48,300, which has increased by 1.3% over the past 5 years. Austin, Chicago, IL is a popular place for families, as children make up 26.1% of the population. The area has a poorly educated workforce, with 11.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 48,300 | 1.3% |
% Under 18 | 26.1% | 0.8% |
% Seniors | 14.6% | 12.3% |
% WFH | 7.4% | 270.0% |
% w/ College Degree | 11.3% | 0.0% |
As of the latest ACS Survey released in 2023, Austin, Chicago, IL is a predominantly black area, with 82.3% of the population identifying as black. The black population has shrunk by 8.5% in the last 5 years. The second most common race or ethnicity in Austin, Chicago, IL is hispanic, making up 11.1% of the population. Foreign-born residents account for 5.9% of the population in Austin, Chicago, IL, and this percentage has increased by 136.0% 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 | 4.3% | 48.3% |
% Black | 82.3% | -8.5% |
% Hispanic | 11.1% | 73.4% |
% Asian | 0.9% | 350.0% |
% Foreign Born | 5.9% | 136.0% |
Mortgage and Risk — Austin, Chicago, IL
According to HUD data as of 2023, there were 253 mortgage originations in Austin, Chicago, IL, of which 53.0% of loans were conventional mortgages. The average loan-to-value was 75.0%, with 48.0% above 90% LTV (very high). This implies large mortgage risk in Austin, Chicago, IL. Investor activity is low, as 5.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 253 |
% Conventional Loans | 53.0% |
% Government Loans | 47.0% |
% Investor Loans | 5.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Austin, Chicago, IL
As of 2024, the percent of homes in Austin, Chicago, IL under the Section 8 program is 22.1%. 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. 1-bedroom and 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Austin, Chicago, IL, because HUD payments exceed market rent, while 2-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 3,300 |
Total Units Section 8 | 2,981 |
% Rentals under Section 8 | 22.1% |
% Occupied Section 8 | 85.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $160 | $1,100 | $1,260 |
| 2 Bedroom | -$30 | $1,450 | $1,420 |
| 3 Bedroom | $120 | $1,700 | $1,820 |
| 4 Bedroom | $290 | $1,850 | $2,140 |
Affordability — Austin, Chicago, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.3 |
| Median Home Price | $202,000 |
| Median Household Income | $38,000 |