Pilsen, Chicago, IL—60608
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Pilsen, Chicago, IL
As of Oct '25, the median home price in Pilsen, Chicago, IL is $346,000, with a year-over-year change of 0.2%. This indicates that home prices in Pilsen, Chicago, IL are flat. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $346,000 | 0.2% |
| Single Family | $378,000 | 4.4% |
| Condos | $322,000 | 2.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $253,000 | 5.4% |
2 Bed | $315,000 | 4.3% |
3 Bed | $390,000 | 5.7% |
4 Bed | $490,000 | 4.9% |
| 5 Bed | $560,000 | 5.3% |
% of Housing Stock
Rental Trends — Pilsen, Chicago, IL
As of July '25, Rentcast reports the average rent in Pilsen, Chicago, IL is $2,040, with a year-over-year rent change of 2.5%. Per bedroom, the median rent as of July '25 in Pilsen, Chicago, IL is studios: $2,100, 1-bedrooms: $1,720, 2-bedrooms: $1,930, 3-bedrooms: $2,420, 4-bedrooms: $2,330. The most common rental property sizes in Pilsen, Chicago, IL are 2-bedroom and 3-bedroom, accounting for 41.5% and 25.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,820 | $2,040 |
| Studio Rent | $1,750 | $2,100 |
| 1 Bed Rent | $1,620 | $1,720 |
| 2 Bed Rent | $1,800 | $1,930 |
| 3 Bed Rent | $2,400 | $2,420 |
| 4 Bed Rent | $1,800 | $2,330 |
% of Rental Stock
Property Listings — Pilsen, Chicago, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Pilsen, Chicago, IL is 38. This is a increase of 1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 14.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $380,000 | 0.0% |
Listing Count | 113 | 25.0% |
| Listings as % of Homes | 0.3% | 25.0% |
Days on Market | 38 | 1.0% |
Demographics — Pilsen, Chicago, IL
As of the latest ACS Survey released in 2023, Pilsen, Chicago, IL has a population of 81,500, which has increased by 2.8% over the past 5 years. Pilsen, Chicago, IL is a moderately popular place for families, as children make up 16.7% of the population. The area has a moderately educated workforce, with 34.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 81,500 | 2.8% |
% Under 18 | 16.7% | -11.2% |
% Seniors | 11.3% | 14.1% |
% WFH | 15.1% | 357.6% |
% w/ College Degree | 34.3% | 28.9% |
As of the latest ACS Survey released in 2023, Pilsen, Chicago, IL is a predominantly hispanic area, with 46.4% of the population identifying as hispanic. The hispanic population has shrunk by 8.5% in the last 5 years. The second most common race or ethnicity in Pilsen, Chicago, IL is white, making up 19.6% of the population. Foreign-born residents account for 30.1% of the population in Pilsen, Chicago, IL, and this percentage has increased by 5.2% 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 | 19.6% | 2.6% |
% Black | 17.8% | 0.6% |
% Hispanic | 46.4% | -8.5% |
% Asian | 14.3% | 18.2% |
% Foreign Born | 30.1% | 5.2% |
Mortgage and Risk — Pilsen, Chicago, IL
According to HUD data as of 2023, there were 372 mortgage originations in Pilsen, Chicago, IL, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 75.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Pilsen, Chicago, IL. Investor activity is low, as 7.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 372 |
% Conventional Loans | 86.0% |
% Government Loans | 14.0% |
% Investor Loans | 7.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Pilsen, Chicago, IL
As of 2024, the percent of homes in Pilsen, Chicago, IL under the Section 8 program is 7.2%. 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. 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Pilsen, Chicago, IL, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 2,293 |
Total Units Section 8 | 1,399 |
% Rentals under Section 8 | 7.2% |
% Occupied Section 8 | 84.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$340 | $1,620 | $1,280 |
| 2 Bedroom | -$350 | $1,800 | $1,450 |
| 3 Bedroom | -$540 | $2,400 | $1,860 |
| 4 Bedroom | $390 | $1,800 | $2,190 |
Affordability — Pilsen, Chicago, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.8 |
| Median Home Price | $346,000 |
| Median Household Income | $70,700 |