Portage Park, Chicago, IL—60641
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Portage Park, Chicago, IL
As of Oct '25, the median home price in Portage Park, Chicago, IL is $383,000, with a year-over-year change of 4.7%. This indicates that home prices in Portage Park, Chicago, IL are increasing. 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 | $383,000 | 4.7% |
| Single Family | $413,000 | 5.4% |
| Condos | $212,000 | 1.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $177,000 | 4.7% |
2 Bed | $300,000 | 6.4% |
3 Bed | $388,000 | 5.1% |
4 Bed | $482,000 | 5.5% |
| 5 Bed | $537,000 | 5.3% |
% of Housing Stock
Rental Trends — Portage Park, Chicago, IL
As of July '25, Rentcast reports the average rent in Portage Park, Chicago, IL is $1,840, with a year-over-year rent change of -30.6%. Per bedroom, the median rent as of July '25 in Portage Park, Chicago, IL is studios: $1,310, 1-bedrooms: $1,620, 2-bedrooms: $1,920, 3-bedrooms: $2,760, 4-bedrooms: $4,220. The most common rental property sizes in Portage Park, Chicago, IL are 2-bedroom and 1-bedroom, accounting for 41.1% and 31.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,650 | $1,840 |
| Studio Rent | $1,250 | $1,310 |
| 1 Bed Rent | $1,400 | $1,620 |
| 2 Bed Rent | $1,800 | $1,920 |
| 3 Bed Rent | $2,400 | $2,760 |
| 4 Bed Rent | $4,500 | $4,220 |
% of Rental Stock
Property Listings — Portage Park, Chicago, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Portage Park, Chicago, IL is 30. This is a decrease of -19.0% 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 12.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $537,000 | 2.0% |
Listing Count | 99 | -13.0% |
| Listings as % of Homes | 0.3% | -13.0% |
Days on Market | 30 | -19.0% |
Demographics — Portage Park, Chicago, IL
As of the latest ACS Survey released in 2023, Portage Park, Chicago, IL has a population of 67,400, which has decreased by -5.1% over the past 5 years. Portage Park, Chicago, IL is a moderately popular place for families, as children make up 21.6% of the population. The area has a moderately educated workforce, with 36.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 67,400 | -5.1% |
% Under 18 | 21.6% | -3.1% |
% Seniors | 12.5% | 12.6% |
% WFH | 15.4% | 266.7% |
% w/ College Degree | 36.0% | 21.6% |
As of the latest ACS Survey released in 2023, Portage Park, Chicago, IL is a predominantly hispanic area, with 52.3% of the population identifying as hispanic. The hispanic population has shrunk by 3.1% in the last 5 years. The second most common race or ethnicity in Portage Park, Chicago, IL is white, making up 35.6% of the population. Foreign-born residents account for 30.1% of the population in Portage Park, Chicago, IL, and this percentage has decreased by 7.4% 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 | 35.6% | -2.7% |
% Black | 3.1% | 29.2% |
% Hispanic | 52.3% | -3.1% |
% Asian | 5.4% | 17.4% |
% Foreign Born | 30.1% | -7.4% |
Mortgage and Risk — Portage Park, Chicago, IL
According to HUD data as of 2023, there were 604 mortgage originations in Portage Park, Chicago, IL, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Portage Park, Chicago, IL. Investor activity is low, as 4.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 604 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Portage Park, Chicago, IL
As of 2024, the percent of homes in Portage Park, Chicago, IL under the Section 8 program is 4.2%. 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. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Portage Park, Chicago, IL, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 577 |
Total Units Section 8 | 499 |
% Rentals under Section 8 | 4.2% |
% Occupied Section 8 | 86.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $90 | $1,400 | $1,490 |
| 2 Bedroom | -$120 | $1,800 | $1,680 |
| 3 Bedroom | -$240 | $2,400 | $2,160 |
| 4 Bedroom | -$1,970 | $4,500 | $2,530 |
Affordability — Portage Park, Chicago, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.1 |
| Median Home Price | $383,000 |
| Median Household Income | $81,600 |