Wheaton, IL—60187
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Wheaton, IL
Home Price Trends — Wheaton, IL
As of Oct '25, the median home price in Wheaton, IL is $477,000, with a year-over-year change of 6.5%. This indicates that home prices in Wheaton, 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 | $477,000 | 6.5% |
| Single Family | $485,000 | 6.6% |
| Condos | $344,000 | 6.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $358,000 | 6.2% |
3 Bed | $437,000 | 6.1% |
4 Bed | $657,000 | 6.5% |
| 5 Bed | $845,000 | 6.8% |
% of Housing Stock
Rental Trends — Wheaton, IL
As of July '25, Rentcast reports the average rent in Wheaton, IL is $2,120, with a year-over-year rent change of 1.4%. Per bedroom, the median rent as of July '25 in Wheaton, IL is studios: $1,660, 1-bedrooms: $1,830, 2-bedrooms: $2,260, 3-bedrooms: $3,340, 4-bedrooms: $2,500. The most common rental property sizes in Wheaton, IL are 1-bedroom and 2-bedroom, accounting for 44.8% and 37.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,000 | $2,120 |
| Studio Rent | $1,680 | $1,660 |
| 1 Bed Rent | $1,860 | $1,830 |
| 2 Bed Rent | $2,210 | $2,260 |
| 3 Bed Rent | $3,000 | $3,340 |
| 4 Bed Rent | $2,500 | $2,500 |
% of Rental Stock
Property Listings — Wheaton, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Wheaton, IL is 31. This is a decrease of -17.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $554,000 | 13.0% |
Listing Count | 59 | -15.0% |
| Listings as % of Homes | 0.4% | -15.0% |
Days on Market | 31 | -17.0% |
Demographics — Wheaton, IL
As of the latest ACS Survey released in 2023, Wheaton, IL has a population of 28,900, which has decreased by -2.8% over the past 5 years. Wheaton, IL is a moderately popular place for families, as children make up 21.0% of the population. The area has a highly educated workforce, with 61.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 22.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,900 | -2.8% |
% Under 18 | 21.0% | -10.6% |
% Seniors | 16.8% | 19.1% |
% WFH | 22.1% | 169.5% |
% w/ College Degree | 61.9% | 0.0% |
As of the latest ACS Survey released in 2023, Wheaton, IL is a predominantly white area, with 76.9% of the population identifying as white. The white population has shrunk by 6.8% in the last 5 years. The second most common race or ethnicity in Wheaton, IL is hispanic, making up 8.1% of the population. Foreign-born residents account for 8.8% of the population in Wheaton, IL, and this percentage has decreased by 11.1% 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 | 76.9% | -6.8% |
% Black | 3.8% | 2.7% |
% Hispanic | 8.1% | 50.0% |
% Asian | 6.8% | 17.2% |
% Foreign Born | 8.8% | -11.1% |
Mortgage and Risk — Wheaton, IL
According to HUD data as of 2023, there were 366 mortgage originations in Wheaton, IL, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Wheaton, IL. Investor activity is low, as 3.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 366 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Wheaton, IL
As of 2024, the percent of homes in Wheaton, IL under the Section 8 program is 8.6%. 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 and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Wheaton, IL, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 255 |
Total Units Section 8 | 243 |
% Rentals under Section 8 | 8.6% |
% Occupied Section 8 | 93.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $30 | $1,860 | $1,890 |
| 2 Bedroom | -$80 | $2,210 | $2,130 |
| 3 Bedroom | -$260 | $3,000 | $2,740 |
| 4 Bedroom | $710 | $2,500 | $3,210 |
Affordability — Wheaton, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $477,000 |
| Median Household Income | $119,000 |