Riverdale, IL—60827
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Riverdale, IL
As of Oct '25, the median home price in Riverdale, IL is $120,000, with a year-over-year change of -5.7%. This indicates that home prices in Riverdale, IL are decreasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $120,000 | -5.7% |
| Single Family | $121,000 | -5.5% |
| Condos | $61,000 | -11.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $101,000 | -5.6% |
3 Bed | $127,000 | -3.8% |
4 Bed | $153,000 | -5.0% |
| 5 Bed | $194,000 | -0.5% |
% of Housing Stock
Rental Trends — Riverdale, IL
As of July '25, Rentcast reports the average rent in Riverdale, IL is $1,420, with a year-over-year rent change of 9.2%. Per bedroom, the median rent as of July '25 in Riverdale, IL is studios: $825, 1-bedrooms: $1,090, 2-bedrooms: $1,410, 3-bedrooms: $1,830, 4-bedrooms: $2,100. The most common rental property sizes in Riverdale, IL are 2-bedroom and 3-bedroom, accounting for 34.2% and 31.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,480 | $1,420 |
| Studio Rent | $800 | $825 |
| 1 Bed Rent | $1,020 | $1,090 |
| 2 Bed Rent | $1,480 | $1,410 |
| 3 Bed Rent | $1,880 | $1,830 |
| 4 Bed Rent | $2,000 | $2,100 |
% of Rental Stock
Property Listings — Riverdale, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Riverdale, IL is 38. This is a increase of 26.0% 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 13.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $149,000 | -9.0% |
Listing Count | 107 | 13.0% |
| Listings as % of Homes | 0.7% | 13.0% |
Days on Market | 38 | 26.0% |
Demographics — Riverdale, IL
As of the latest ACS Survey released in 2023, Riverdale, IL has a population of 24,900, which has decreased by -12.9% over the past 5 years. Riverdale, IL is a popular place for families, as children make up 33.6% of the population. The area has a poorly educated workforce, with 15.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 24,900 | -12.9% |
% Under 18 | 33.6% | 15.1% |
% Seniors | 10.7% | 10.3% |
% WFH | 7.5% | 368.8% |
% w/ College Degree | 15.0% | 11.1% |
As of the latest ACS Survey released in 2023, Riverdale, IL is a predominantly black area, with 88.6% of the population identifying as black. The black population has shrunk by 3.5% in the last 5 years. The second most common race or ethnicity in Riverdale, IL is hispanic, making up 4.9% of the population. Foreign-born residents account for 1.5% of the population in Riverdale, IL, and this percentage has decreased by 31.8% 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 | 1.9% | -29.6% |
% Black | 88.6% | -3.5% |
% Hispanic | 4.9% | 14.0% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 1.5% | -31.8% |
Mortgage and Risk — Riverdale, IL
According to HUD data as of 2023, there were 206 mortgage originations in Riverdale, IL, of which 53.0% of loans were conventional mortgages. The average loan-to-value was 77.0%, with 51.0% above 90% LTV (very high). This implies large mortgage risk in Riverdale, IL. Investor activity is low, as 3.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 206 |
% Conventional Loans | 53.0% |
% Government Loans | 47.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Riverdale, IL
As of 2024, the percent of homes in Riverdale, IL under the Section 8 program is 23.9%. 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 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Riverdale, IL, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 2,833 |
Total Units Section 8 | 1,264 |
% Rentals under Section 8 | 23.9% |
% Occupied Section 8 | 90.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $260 | $1,020 | $1,280 |
| 2 Bedroom | -$40 | $1,480 | $1,440 |
| 3 Bedroom | -$30 | $1,880 | $1,850 |
| 4 Bedroom | $170 | $2,000 | $2,170 |
Affordability — Riverdale, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $120,000 |
| Median Household Income | $37,600 |