O'Hare, Chicago, IL—60656
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — O'Hare, Chicago, IL
As of Oct '25, the median home price in O'Hare, Chicago, IL is $359,000, with a year-over-year change of 6.8%. This indicates that home prices in O'Hare, Chicago, IL are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $359,000 | 6.8% |
| Single Family | $413,000 | 6.4% |
| Condos | $193,000 | 0.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $158,000 | 0.0% |
2 Bed | $280,000 | 6.1% |
3 Bed | $410,000 | 6.5% |
4 Bed | $485,000 | 7.5% |
| 5 Bed | $588,000 | 5.9% |
% of Housing Stock
Rental Trends — O'Hare, Chicago, IL
As of July '25, Rentcast reports the average rent in O'Hare, Chicago, IL is $1,980, with a year-over-year rent change of -18.5%. Per bedroom, the median rent as of July '25 in O'Hare, Chicago, IL is studios: $1,310, 1-bedrooms: $1,490, 2-bedrooms: $1,890, 3-bedrooms: $2,420, 4-bedrooms: $3,800. The most common rental property sizes in O'Hare, Chicago, IL are 2-bedroom and 1-bedroom, accounting for 43.2% and 33.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,850 | $1,980 |
| Studio Rent | $1,320 | $1,310 |
| 1 Bed Rent | $1,500 | $1,490 |
| 2 Bed Rent | $1,950 | $1,890 |
| 3 Bed Rent | $2,300 | $2,420 |
| 4 Bed Rent | $3,800 | $3,800 |
% of Rental Stock
Property Listings — O'Hare, Chicago, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in O'Hare, Chicago, IL is 21. This is a increase 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $264,000 | -16.0% |
Listing Count | 62 | -17.0% |
| Listings as % of Homes | 0.6% | -17.0% |
Days on Market | 21 | 1.0% |
Demographics — O'Hare, Chicago, IL
As of the latest ACS Survey released in 2023, O'Hare, Chicago, IL has a population of 28,700, which has increased by 4.2% over the past 5 years. O'Hare, Chicago, IL is a moderately popular place for families, as children make up 20.0% of the population. The area has a moderately educated workforce, with 41.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,700 | 4.2% |
% Under 18 | 20.0% | 11.7% |
% Seniors | 16.6% | -1.2% |
% WFH | 11.1% | 226.5% |
% w/ College Degree | 41.7% | 9.2% |
As of the latest ACS Survey released in 2023, O'Hare, Chicago, IL is a predominantly white area, with 66.8% of the population identifying as white. The white population has shrunk by 12.5% in the last 5 years. The second most common race or ethnicity in O'Hare, Chicago, IL is hispanic, making up 14.7% of the population. Foreign-born residents account for 39.9% of the population in O'Hare, Chicago, IL, and this percentage has increased by 13.4% 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 | 66.8% | -12.5% |
% Black | 4.7% | 291.7% |
% Hispanic | 14.7% | 19.5% |
% Asian | 11.2% | 51.4% |
% Foreign Born | 39.9% | 13.4% |
Mortgage and Risk — O'Hare, Chicago, IL
According to HUD data as of 2023, there were 381 mortgage originations in O'Hare, Chicago, IL, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in O'Hare, Chicago, IL. Investor activity is low, as 3.0% 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 | 381 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — O'Hare, Chicago, IL
As of 2024, the percent of homes in O'Hare, Chicago, IL under the Section 8 program is 1.7%. 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 O'Hare, 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 | 103 |
Total Units Section 8 | 69 |
% Rentals under Section 8 | 1.7% |
% Occupied Section 8 | 86.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $50 | $1,500 | $1,550 |
| 2 Bedroom | -$200 | $1,950 | $1,750 |
| 3 Bedroom | -$50 | $2,300 | $2,250 |
| 4 Bedroom | -$1,160 | $3,800 | $2,640 |
Affordability — O'Hare, Chicago, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $359,000 |
| Median Household Income | $88,000 |