Edgewater, Chicago, IL—60660
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Edgewater, Chicago, IL
As of Oct '25, the median home price in Edgewater, Chicago, IL is $275,000, with a year-over-year change of 6.6%. This indicates that home prices in Edgewater, Chicago, IL are increasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $275,000 | 6.6% |
| Single Family | $642,000 | 7.5% |
| Condos | $250,000 | 7.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $178,000 | 4.7% |
2 Bed | $320,000 | 6.3% |
3 Bed | $489,000 | 8.2% |
4 Bed | $844,000 | 7.1% |
| 5 Bed | $1,158,000 | 4.6% |
% of Housing Stock
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.
| Type | Median Rent | Average 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 |
% of Rental Stock
Property Listings — Edgewater, Chicago, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Edgewater, Chicago, IL is 32. This is a decrease of -5.0% 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 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $236,000 | -28.0% |
Listing Count | 137 | -8.0% |
| Listings as % of Homes | 0.5% | -8.0% |
Days on Market | 32 | -5.0% |
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.
| Metric | Latest Census | YoY % 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% |
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
| Metric | Latest Census | 5-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% |
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
| Metric | Zip 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% |
Loan Activity
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 Size | HUD Premium | Market Rent | Max 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
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $275,000 |
| Median Household Income | $66,200 |