Crete, IL—60417
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Crete, IL
As of Oct '25, the median home price in Crete, IL is $292,000, with a year-over-year change of 2.1%. This indicates that home prices in Crete, IL are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $292,000 | 2.1% |
| Single Family | $295,000 | 1.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $196,000 | 3.2% |
3 Bed | $278,000 | 0.7% |
4 Bed | $346,000 | 2.1% |
| 5 Bed | $398,000 | 2.1% |
% of Housing Stock
Rental Trends — Crete, IL
As of July '25, Rentcast reports the average rent in Crete, IL is $2,180, with a year-over-year rent change of -10.7%. Per bedroom, the median rent as of July '25 in Crete, IL is 2-bedrooms: $1,600, 3-bedrooms: $1,750, 4-bedrooms: $3,200. The most common rental property sizes in Crete, IL are 2-bedroom and 3-bedroom, accounting for 27.9% and 24.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,750 | $2,180 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,600 | $1,600 |
| 3 Bed Rent | $1,750 | $1,750 |
| 4 Bed Rent | $3,200 | $3,200 |
% of Rental Stock
Property Listings — Crete, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Crete, IL is 40. This is a increase of 6.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $330,000 | 5.0% |
Listing Count | 95 | -8.0% |
| Listings as % of Homes | 0.7% | -8.0% |
Days on Market | 40 | 6.0% |
Demographics — Crete, IL
As of the latest ACS Survey released in 2023, Crete, IL has a population of 15,400, which has increased by 1.2% over the past 5 years. Crete, IL is a moderately popular place for families, as children make up 18.0% of the population. The area has a moderately educated workforce, with 30.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 15,400 | 1.2% |
% Under 18 | 18.0% | -7.2% |
% Seniors | 25.5% | 10.4% |
% WFH | 11.0% | 103.7% |
% w/ College Degree | 30.6% | -4.4% |
As of the latest ACS Survey released in 2023, Crete, IL is a predominantly white area, with 49.2% of the population identifying as white. The white population has shrunk by 21.4% in the last 5 years. The second most common race or ethnicity in Crete, IL is black, making up 36.2% of the population. Foreign-born residents account for 3.6% of the population in Crete, IL, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 49.2% | -21.4% |
% Black | 36.2% | 29.3% |
% Hispanic | 9.6% | 33.3% |
% Asian | 0.6% | -33.3% |
% Foreign Born | 3.6% | 0.0% |
Mortgage and Risk — Crete, IL
According to HUD data as of 2023, there were 310 mortgage originations in Crete, IL, of which 64.0% of loans were conventional mortgages. The average loan-to-value was 74.0%, with 46.0% above 90% LTV (very high). This implies large mortgage risk in Crete, IL. Investor activity is low, as 1.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 310 |
% Conventional Loans | 64.0% |
% Government Loans | 36.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Crete, IL
Crete, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 49 |
Total Units Section 8 | 25 |
% Rentals under Section 8 | 3.3% |
% Occupied Section 8 | 80.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,310 |
| 2 Bedroom | -$120 | $1,600 | $1,480 |
| 3 Bedroom | $150 | $1,750 | $1,900 |
| 4 Bedroom | -$970 | $3,200 | $2,230 |
Affordability — Crete, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $292,000 |
| Median Household Income | $93,300 |