Harwood Heights, IL—60706
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Harwood Heights, IL
As of Oct '25, the median home price in Harwood Heights, IL is $383,000, with a year-over-year change of 5.7%. This indicates that home prices in Harwood Heights, IL are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $383,000 | 5.7% |
| Single Family | $397,000 | 5.9% |
| Condos | $279,000 | 3.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $185,000 | 1.6% |
2 Bed | $315,000 | 5.7% |
3 Bed | $388,000 | 6.3% |
4 Bed | $471,000 | 6.3% |
| 5 Bed | $598,000 | 4.7% |
% of Housing Stock
Rental Trends — Harwood Heights, IL
As of July '25, Rentcast reports the average rent in Harwood Heights, IL is $2,340, with a year-over-year rent change of -6.8%. Per bedroom, the median rent as of July '25 in Harwood Heights, IL is 1-bedrooms: $1,440, 2-bedrooms: $2,030, 3-bedrooms: $2,910, 4-bedrooms: $2,960. The most common rental property sizes in Harwood Heights, IL are 1-bedroom and 2-bedroom, accounting for 35.5% and 26.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,500 | $2,340 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,450 | $1,440 |
| 2 Bed Rent | $1,800 | $2,030 |
| 3 Bed Rent | $2,900 | $2,910 |
| 4 Bed Rent | $2,850 | $2,960 |
% of Rental Stock
Property Listings — Harwood Heights, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Harwood Heights, IL is 30. This is a increase of 23.0% 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 20.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $393,000 | 0.0% |
Listing Count | 49 | -19.0% |
| Listings as % of Homes | 0.5% | -19.0% |
Days on Market | 30 | 23.0% |
Demographics — Harwood Heights, IL
As of the latest ACS Survey released in 2023, Harwood Heights, IL has a population of 24,000, which has increased by 3.1% over the past 5 years. Harwood Heights, IL is a moderately popular place for families, as children make up 19.9% of the population. The area has a moderately educated workforce, with 30.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 24,000 | 3.1% |
% Under 18 | 19.9% | 8.2% |
% Seniors | 21.7% | -5.2% |
% WFH | 9.3% | 200.0% |
% w/ College Degree | 30.2% | 6.0% |
As of the latest ACS Survey released in 2023, Harwood Heights, IL is a predominantly white area, with 72.9% of the population identifying as white. The white population has shrunk by 9.3% in the last 5 years. The second most common race or ethnicity in Harwood Heights, IL is hispanic, making up 15.6% of the population. Foreign-born residents account for 41.0% of the population in Harwood Heights, IL, and this percentage has increased by 13.3% 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 | 72.9% | -9.3% |
% Black | 1.6% | 100.0% |
% Hispanic | 15.6% | 45.8% |
% Asian | 8.1% | 5.2% |
% Foreign Born | 41.0% | 13.3% |
Mortgage and Risk — Harwood Heights, IL
According to HUD data as of 2023, there were 246 mortgage originations in Harwood Heights, IL, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Harwood Heights, IL. Investor activity is low, as 1.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 246 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Harwood Heights, IL
As of 2024, the percent of homes in Harwood Heights, IL under the Section 8 program is 0.4%. 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. In Harwood Heights, IL, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 8 |
Total Units Section 8 | 8 |
% Rentals under Section 8 | 0.4% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$50 | $1,450 | $1,400 |
| 2 Bedroom | -$220 | $1,800 | $1,580 |
| 3 Bedroom | -$870 | $2,900 | $2,030 |
| 4 Bedroom | -$470 | $2,850 | $2,380 |
Affordability — Harwood Heights, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $383,000 |
| Median Household Income | $85,000 |