Chicago Ridge, IL—60415
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Chicago Ridge, IL
As of Nov '25, the median home price in Chicago Ridge, IL is $217,000, with a year-over-year change of -2.1%. This indicates that home prices in Chicago Ridge, IL are decreasing. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $217,000 | -2.1% |
| Single Family | $279,000 | 0.7% |
| Condos | $155,000 | -3.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $172,000 | -1.7% |
3 Bed | $274,000 | 0.7% |
4 Bed | $314,000 | 0.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Chicago Ridge, IL
As of July '25, Rentcast reports the average rent in Chicago Ridge, IL is $1,870, with a year-over-year rent change of 12.7%. Per bedroom, the median rent as of July '25 in Chicago Ridge, IL is 1-bedrooms: $1,290, 2-bedrooms: $1,850, 3-bedrooms: $2,180, 4-bedrooms: $3,900. The most common rental property sizes in Chicago Ridge, IL are 2-bedroom and 1-bedroom, accounting for 65.0% and 27.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,870 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,300 | $1,290 |
| 2 Bed Rent | $1,800 | $1,850 |
| 3 Bed Rent | $1,850 | $2,180 |
| 4 Bed Rent | $3,900 | $3,900 |
% of Rental Stock
Property Listings — Chicago Ridge, IL
As of Nov '25, Realtor.com reports that the median days on market for a home in Chicago Ridge, IL is 41. This is a increase of 3.0% 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 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $209,000 | 0.0% |
Listing Count | 56 | 44.0% |
| Listings as % of Homes | 0.7% | 44.0% |
Days on Market | 41 | 3.0% |
Demographics — Chicago Ridge, IL
As of the latest ACS Survey released in 2023, Chicago Ridge, IL has a population of 14,100, which has remained stable by -0.8% over the past 5 years. Chicago Ridge, IL is a moderately popular place for families, as children make up 24.2% of the population. The area has a moderately educated workforce, with 27.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 14,100 | -0.8% |
% Under 18 | 24.2% | -9.4% |
% Seniors | 12.5% | -9.4% |
% WFH | 9.5% | 179.4% |
% w/ College Degree | 27.7% | 57.4% |
As of the latest ACS Survey released in 2023, Chicago Ridge, IL is a predominantly white area, with 58.9% of the population identifying as white. The white population has shrunk by 21.2% in the last 5 years. The second most common race or ethnicity in Chicago Ridge, IL is hispanic, making up 17.1% of the population. Foreign-born residents account for 26.1% of the population in Chicago Ridge, IL, and this percentage has increased by 4.0% 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 | 58.9% | -21.2% |
% Black | 9.0% | -24.4% |
% Hispanic | 17.1% | 83.9% |
% Asian | 4.1% | 28.1% |
% Foreign Born | 26.1% | 4.0% |
Mortgage and Risk — Chicago Ridge, IL
According to HUD data as of 2023, there were 129 mortgage originations in Chicago Ridge, IL, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 47.0% above 90% LTV (very high). This implies large mortgage risk in Chicago Ridge, 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 | 129 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 10.0% |
Rentals and Section 8 — Chicago Ridge, IL
As of 2024, the percent of homes in Chicago Ridge, IL under the Section 8 program is 6.7%. 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. 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Chicago Ridge, IL, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 160 |
Total Units Section 8 | 160 |
% Rentals under Section 8 | 6.7% |
% Occupied Section 8 | 96.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$10 | $1,300 | $1,290 |
| 2 Bedroom | -$340 | $1,800 | $1,460 |
| 3 Bedroom | $30 | $1,850 | $1,880 |
| 4 Bedroom | -$1,700 | $3,900 | $2,200 |
Affordability — Chicago Ridge, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $217,000 |
| Median Household Income | $69,400 |