Noble Square, Chicago, IL—60642
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Noble Square, Chicago, IL
As of Oct '25, the median home price in Noble Square, Chicago, IL is $528,000, with a year-over-year change of 1.8%. This indicates that home prices in Noble Square, Chicago, 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 | $528,000 | 1.8% |
| Single Family | $697,000 | 5.0% |
| Condos | $502,000 | 0.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $321,000 | 5.9% |
2 Bed | $494,000 | 4.0% |
3 Bed | $715,000 | 3.9% |
4 Bed | $939,000 | 3.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Noble Square, Chicago, IL
As of July '25, Rentcast reports the average rent in Noble Square, Chicago, IL is $2,950, with a year-over-year rent change of 3.5%. Per bedroom, the median rent as of July '25 in Noble Square, Chicago, IL is studios: $2,140, 1-bedrooms: $2,610, 2-bedrooms: $3,210, 3-bedrooms: $3,620, 4-bedrooms: $4,460. The most common rental property sizes in Noble Square, Chicago, IL are 2-bedroom and 1-bedroom, accounting for 42.9% and 33.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,740 | $2,950 |
| Studio Rent | $2,200 | $2,140 |
| 1 Bed Rent | $2,630 | $2,610 |
| 2 Bed Rent | $3,200 | $3,210 |
| 3 Bed Rent | $3,400 | $3,620 |
| 4 Bed Rent | $4,350 | $4,460 |
% of Rental Stock
Property Listings — Noble Square, Chicago, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Noble Square, Chicago, IL is 30. This is a increase of 7.0% 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 | $615,000 | -1.0% |
Listing Count | 76 | -37.0% |
| Listings as % of Homes | 0.7% | -37.0% |
Days on Market | 30 | 7.0% |
Demographics — Noble Square, Chicago, IL
As of the latest ACS Survey released in 2023, Noble Square, Chicago, IL has a population of 21,100, which has increased by 4.6% over the past 5 years. Noble Square, Chicago, IL is a less popular place for families, as children make up 8.7% of the population. The area has a highly educated workforce, with 77.5% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 31.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,100 | 4.6% |
% Under 18 | 8.7% | -24.3% |
% Seniors | 6.6% | 1.5% |
% WFH | 31.5% | 377.3% |
% w/ College Degree | 77.5% | 8.7% |
As of the latest ACS Survey released in 2023, Noble Square, Chicago, IL is a predominantly white area, with 64.5% of the population identifying as white. The white population has grown by 7.5% in the last 5 years. The second most common race or ethnicity in Noble Square, Chicago, IL is hispanic, making up 14.4% of the population. Foreign-born residents account for 11.2% of the population in Noble Square, Chicago, IL, and this percentage has decreased by 20.0% 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 | 64.5% | 7.5% |
% Black | 8.3% | -19.4% |
% Hispanic | 14.4% | -28.7% |
% Asian | 8.1% | 12.5% |
% Foreign Born | 11.2% | -20.0% |
Mortgage and Risk — Noble Square, Chicago, IL
According to HUD data as of 2023, there were 367 mortgage originations in Noble Square, Chicago, IL, of which 99.0% of loans were conventional mortgages. The average loan-to-value was 75.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in Noble Square, Chicago, IL. Investor activity is low, as 5.0% of loans were by investors. 3.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 367 |
% Conventional Loans | 99.0% |
% Government Loans | 1.0% |
% Investor Loans | 5.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 3.0% |
Loan Activity
Rentals and Section 8 — Noble Square, Chicago, IL
As of 2024, the percent of homes in Noble Square, Chicago, IL under the Section 8 program is 3.8%. 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. In Noble Square, Chicago, IL, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 767 |
Total Units Section 8 | 289 |
% Rentals under Section 8 | 3.8% |
% Occupied Section 8 | 84.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$290 | $2,630 | $2,340 |
| 2 Bedroom | -$560 | $3,200 | $2,640 |
| 3 Bedroom | -$10 | $3,400 | $3,390 |
| 4 Bedroom | -$370 | $4,350 | $3,980 |
Affordability — Noble Square, Chicago, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $528,000 |
| Median Household Income | $141,000 |