What is the average home price in Highwood, IL 60040?

As of May '26, the median home price in Highwood, IL 60040 is $498,000, based on Zillow home estimates.

How have home prices in Highwood, IL 60040 changed over the past year?

As of May '26, home prices have increased 9.7% over the past year, according to Zillow home estimates data.

What is the home price projection for Highwood, IL 60040?

As of May '26, Zillow projects home prices in Highwood, IL 60040 to increase 2.5% in the next year.

What are the demographics of Highwood, IL 60040?

According to the latest Census, the demographics of Highwood, IL 60040 are 53.1% White, 2.5% Black, 1.5% Asian, 40.6% Hispanic. The population is 5,240, with 25.6% under 18 years old.

How long does it take homes to sell in Highwood, IL 60040?

According to Realtor.com, as of May '26, the median home in Highwood, IL 60040 is on the market for 31 days. This is an increase of 117.0% from last year.

What is the average rent price in Highwood, IL 60040?

The average rent price in Highwood, IL 60040, as of the latest data, is $2,580. The average rent for 1 bedroom homes is $1,980. For 2, 3, and 4 bedroom homes, the average rent is $2,500, $3,510, and N/A respectively.

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Highwood, IL—60040

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$498,000

9.7% YoY Growth

Household Income

$102,000

77.0% YoY Growth

Days on Market

117.0% Longer YoY

Home Price Forecast

2.5%

Median Rent

$2,400

6.6% YoY Growth

1-Bed Rent

$1,880

1.0% YoY Growth

2-Bed Rent

$2,580

2.9% YoY Growth

3-Bed Rent

$3,750

7.3% YoY Growth

Home Price Trends — Highwood, IL

As of May '26, the median home price in Highwood, IL is $498,000, with a year-over-year change of 9.7%. This indicates that home prices in Highwood, IL are increasing. According to Zillow, the 1-year price projection is 2.5%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$498,000	9.7%
Single Family	$517,000	10.0%
Condos	$294,000	2.8%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$558,000	7.0%
Listing Count	7	-23.0%
Listings as % of Homes	0.2%	-23.0%
Days on Market	31	117.0%

Metric	Latest Census	YoY % Change
Population	5,240	-2.3%
% Under 18	25.6%	1.6%
% Seniors	15.4%	13.2%
% WFH	13.8%	187.5%
% w/ College Degree	38.1%	-5.0%

Metric	Zip Code Average
Total Loan Originations	31
% Conventional Loans	100.0%
% Government Loans	0.0%
% Investor Loans	13.0%
% Second Loans	3.0%
% Cash Out Refinance	3.0%

Total Units under HUD	6
Total Units Section 8	6
% Rentals under Section 8	0.3%
% Occupied Section 8	N/A

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$30	$1,880	$1,910
2 Bedroom	-$420	$2,580	$2,160
3 Bedroom	-$980	$3,750	$2,770
4 Bedroom	N/A	N/A	$3,260

Highwood, IL—60040

Key Metrics at a Glance

Home Price Trends — Highwood, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Highwood, IL

% of Rental Stock

Property Listings — Highwood, IL

Demographics — Highwood, IL

Race and Ethnicity

Mortgage and Risk — Highwood, IL

Mortgages

Rentals and Section 8 — Highwood, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Highwood, IL

Home Price to Income Ratio

Highwood, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Highland Park, IL

Lake Forest, IL

Deerfield, IL

Glencoe, IL

Northbrook, IL

Frequently Asked Questions

Type	Median Rent	Average Rent
Average Rent	$2,400	$2,580
Studio Rent	N/A	N/A
1 Bed Rent	$1,880	$1,980
2 Bed Rent	$2,580	$2,500
3 Bed Rent	$3,750	$3,510
4 Bed Rent	N/A	N/A

Metric	Latest Census	5-Year % Change
% White	53.1%	16.2%
% Black	2.5%	-40.5%
% Hispanic	40.6%	-15.2%
% Asian	1.5%	-42.3%
% Foreign Born	23.3%	-26.7%

Metric	Zip Code Average
Home Price to Income Ratio	3.8
Median Home Price	$498,000
Median Household Income	$102,000