River North, Chicago, IL—60654
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — River North, Chicago, IL
As of Oct '25, the median home price in River North, Chicago, IL is $355,000, with a year-over-year change of 0.2%. This indicates that home prices in River North, Chicago, IL are flat. According to Zillow, the 1-year price projection is 0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $355,000 | 0.2% |
| Single Family | $986,000 | 0.0% |
| Condos | $347,000 | 1.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $305,000 | 0.7% |
2 Bed | $470,000 | -0.8% |
3 Bed | $945,000 | -0.6% |
4 Bed | $1,670,000 | 2.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — River North, Chicago, IL
As of July '25, Rentcast reports the average rent in River North, Chicago, IL is $3,310, with a year-over-year rent change of -3.8%. Per bedroom, the median rent as of July '25 in River North, Chicago, IL is studios: $2,350, 1-bedrooms: $2,920, 2-bedrooms: $4,180, 3-bedrooms: $6,810, 4-bedrooms: $4,580. The most common rental property sizes in River North, Chicago, IL are 1-bedroom and 2-bedroom, accounting for 47.5% and 27.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,980 | $3,310 |
| Studio Rent | $2,310 | $2,350 |
| 1 Bed Rent | $2,850 | $2,920 |
| 2 Bed Rent | $4,000 | $4,180 |
| 3 Bed Rent | $6,500 | $6,810 |
| 4 Bed Rent | $4,850 | $4,580 |
% of Rental Stock
Property Listings — River North, Chicago, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in River North, Chicago, IL is 44. This is a decrease of -17.0% 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 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $475,000 | -3.0% |
Listing Count | 173 | -32.0% |
| Listings as % of Homes | 1.0% | -32.0% |
Days on Market | 44 | -17.0% |
Demographics — River North, Chicago, IL
As of the latest ACS Survey released in 2023, River North, Chicago, IL has a population of 24,300, which has increased by 27.0% over the past 5 years. River North, Chicago, IL is a less popular place for families, as children make up 4.7% of the population. The area has a highly educated workforce, with 91.8% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 31.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 24,300 | 27.0% |
% Under 18 | 4.7% | -44.0% |
% Seniors | 7.4% | 25.4% |
% WFH | 31.2% | 221.6% |
% w/ College Degree | 91.8% | 7.5% |
As of the latest ACS Survey released in 2023, River North, Chicago, IL is a predominantly white area, with 70.4% of the population identifying as white. The white population has shrunk by 4.6% in the last 5 years. The second most common race or ethnicity in River North, Chicago, IL is hispanic, making up 11.4% of the population. Foreign-born residents account for 18.6% of the population in River North, Chicago, IL, and this percentage has increased by 39.8% 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 | 70.4% | -4.6% |
% Black | 3.3% | -38.9% |
% Hispanic | 11.4% | 119.2% |
% Asian | 8.6% | -31.7% |
% Foreign Born | 18.6% | 39.8% |
Mortgage and Risk — River North, Chicago, IL
According to HUD data as of 2023, there were 407 mortgage originations in River North, Chicago, IL, of which 98.0% 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 River North, Chicago, IL. Investor activity is low, as 2.0% of loans were by investors. 2.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 407 |
% Conventional Loans | 98.0% |
% Government Loans | 2.0% |
% Investor Loans | 2.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 2.0% |
Loan Activity
Rentals and Section 8 — River North, Chicago, IL
As of 2024, the percent of homes in River North, Chicago, IL under the Section 8 program is 1.8%. 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 River North, 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 | 201 |
Total Units Section 8 | 201 |
% Rentals under Section 8 | 1.8% |
% Occupied Section 8 | 86.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$510 | $2,850 | $2,340 |
| 2 Bedroom | -$1,360 | $4,000 | $2,640 |
| 3 Bedroom | -$3,110 | $6,500 | $3,390 |
| 4 Bedroom | -$870 | $4,850 | $3,980 |
Affordability — River North, Chicago, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $355,000 |
| Median Household Income | $145,000 |