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Edgewater, Chicago, IL—60660

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$294,000
6.3% YoY Growth
Household Income
$66,200
34.5% YoY Growth
Days on Market
29
20.0% Longer YoY
Home Price Forecast
0.8%
Median Rent
$1,680
4.2% YoY Growth
1-Bed Rent
$1,700
8.8% YoY Growth
2-Bed Rent
$2,400
4.4% YoY Growth
3-Bed Rent
$3,100
6.6% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Edgewater, Chicago, IL

As of May '26, the median home price in Edgewater, Chicago, IL is $294,000, with a year-over-year change of 6.3%. This indicates that home prices in Edgewater, Chicago, IL are increasing. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$294,0006.3%
Single Family $727,00011.8%
Condos $264,0006.5%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • $186,000
    4.5%
    2 Bed
    		$343,0008.2%
    3 Bed
    		$534,00011.5%
    4 Bed
    		$934,00012.0%
    5 Bed $1,274,6728.4%
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    % of Housing Stock

    Studio
    17.2%
    1 Bedroom
    35.0%
    2 Bedrooms
    28.5%
    3 Bedrooms
    13.9%
    4 Bedrooms
    4.6%
    5+ Bedrooms
    0.8%

    Rental Trends — Edgewater, Chicago, IL

    As of July '25, Rentcast reports the average rent in Edgewater, Chicago, IL is $1,820, with a year-over-year rent change of -4.2%. Per bedroom, the median rent as of July '25 in Edgewater, Chicago, IL is studios: $1,330, 1-bedrooms: $1,730, 2-bedrooms: $2,360, 3-bedrooms: $3,090, 4-bedrooms: $3,390. The most common rental property sizes in Edgewater, Chicago, IL are 1-bedroom and studio, accounting for 44.3% and 24.5% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,680$1,820
    Studio Rent $1,300$1,330
    1 Bed Rent $1,700$1,730
    2 Bed Rent $2,400$2,360
    3 Bed Rent $3,100$3,090
    4 Bed Rent $3,500$3,390
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    % of Rental Stock

    Studio
    24.5%
    1 Bedroom
    44.3%
    2 Bedrooms
    19.9%
    3 Bedrooms
    9.5%
    4 Bedrooms
    1.7%
    5+ Bedrooms
    0.2%

    Property Listings — Edgewater, Chicago, IL

    As of May '26, Realtor.com reports that the median days on market for a home in Edgewater, Chicago, IL is 29. This is a increase of 20.0% 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 7.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$250,000-11.0%
    Listing Count
    		110-14.0%
    Listings as % of Homes0.5%-14.0%
    Days on Market
    		2920.0%
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    Demographics — Edgewater, Chicago, IL

    As of the latest ACS Survey released in 2023, Edgewater, Chicago, IL has a population of 42,800, which has decreased by -1.1% over the past 5 years. Edgewater, Chicago, IL is a less popular place for families, as children make up 11.1% of the population. The area has a highly educated workforce, with 57.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 21.8% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		42,800-1.1%
    % Under 18
    		11.1%-5.1%
    % Seniors
    		14.9%12.0%
    % WFH
    		21.8%225.4%
    % w/ College Degree
    		57.1%10.7%
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    As of the latest ACS Survey released in 2023, Edgewater, Chicago, IL is a predominantly white area, with 49.8% of the population identifying as white. The white population has shrunk by 3.5% in the last 5 years. The second most common race or ethnicity in Edgewater, Chicago, IL is hispanic, making up 16.3% of the population. Foreign-born residents account for 27.1% of the population in Edgewater, Chicago, IL, and this percentage has decreased by 9.4% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		49.8%-3.5%
    % Black
    		13.8%-4.2%
    % Hispanic
    		16.3%-8.9%
    % Asian
    		14.8%13.8%
    % Foreign Born
    		27.1%-9.4%
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    Mortgage and Risk — Edgewater, Chicago, IL

    According to HUD data as of 2023, there were 428 mortgage originations in Edgewater, Chicago, IL, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Edgewater, Chicago, IL. Investor activity is low, as 4.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		428
    % Conventional Loans
    		97.0%
    % Government Loans
    		3.0%
    % Investor Loans
    		4.0%
    % Second Loans
    		3.0%
    % Cash Out Refinance
    		6.0%
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    Rentals and Section 8 — Edgewater, Chicago, IL

    As of 2024, the percent of homes in Edgewater, Chicago, IL under the Section 8 program is 9.7%. 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 Edgewater, 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
    		1,501
    Total Units Section 8
    		1,270
    % Rentals under Section 8
    		9.7%
    % Occupied Section 8
    		88.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$160$1,700$1,860
    2 Bedroom-$300$2,400$2,100
    3 Bedroom-$400$3,100$2,700
    4 Bedroom-$330$3,500$3,170

    Affordability — Edgewater, Chicago, IL

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.6
    Median Home Price$294,000
    Median Household Income$66,200

    Edgewater, Chicago, IL — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Rogers Park, Chicago, IL

    60626

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    Lincoln Square, Chicago, IL

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    Frequently Asked Questions