View in Interactive Map
  1. Home
  2. /Browse ZIP Codes
  3. /Illinois
  4. /Chicago
  5. /Morgan Park, Chicago, IL - 60655

Morgan Park, Chicago, IL—60655

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$339,000
5.9% YoY Growth
Household Income
$114,000
17.3% YoY Growth
Days on Market
28
8.0% Shorter YoY
Home Price Forecast
2.7%
Median Rent
$1,650
11.4% YoY Growth
1-Bed Rent
$1,320
2.1% YoY Growth
2-Bed Rent
$1,550
16.3% YoY Growth
3-Bed Rent
$3,000
14.5% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Morgan Park, Chicago, IL

As of May '26, the median home price in Morgan Park, Chicago, IL is $339,000, with a year-over-year change of 5.9%. This indicates that home prices in Morgan Park, Chicago, IL are increasing. According to Zillow, the 1-year price projection is 2.7%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$339,0005.9%
Single Family $344,0006.2%
Condos $177,0002.3%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

Browse ZIP Codes by State

All states and cities →
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • District of Columbia
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Puerto Rico
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$280,0008.1%
    3 Bed
    		$341,0005.9%
    4 Bed
    		$423,0006.8%
    5 Bed $481,5206.6%
    Loading chart...

    % of Housing Stock

    Studio
    0.7%
    1 Bedroom
    5.7%
    2 Bedrooms
    22.9%
    3 Bedrooms
    44.2%
    4 Bedrooms
    21.8%
    5+ Bedrooms
    4.7%

    Rental Trends — Morgan Park, Chicago, IL

    As of July '25, Rentcast reports the average rent in Morgan Park, Chicago, IL is $1,790, with a year-over-year rent change of -11.4%. Per bedroom, the median rent as of July '25 in Morgan Park, Chicago, IL is 1-bedrooms: $1,490, 2-bedrooms: $1,640, 3-bedrooms: $3,000. The most common rental property sizes in Morgan Park, Chicago, IL are 2-bedroom and 1-bedroom, accounting for 36.8% and 28.5% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,650$1,790
    Studio Rent N/AN/A
    1 Bed Rent $1,320$1,490
    2 Bed Rent $1,550$1,640
    3 Bed Rent $3,000$3,000
    4 Bed Rent N/AN/A
    Loading chart...

    % of Rental Stock

    Studio
    1.9%
    1 Bedroom
    28.5%
    2 Bedrooms
    36.8%
    3 Bedrooms
    24.7%
    4 Bedrooms
    4.5%
    5+ Bedrooms
    3.5%

    Property Listings — Morgan Park, Chicago, IL

    As of May '26, Realtor.com reports that the median days on market for a home in Morgan Park, Chicago, IL is 28. This is a decrease of -8.0% 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 14.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$365,00015.0%
    Listing Count
    		59-23.0%
    Listings as % of Homes0.7%-23.0%
    Days on Market
    		28-8.0%
    Loading chart...

    Demographics — Morgan Park, Chicago, IL

    As of the latest ACS Survey released in 2023, Morgan Park, Chicago, IL has a population of 27,800, which has decreased by -3.5% over the past 5 years. Morgan Park, Chicago, IL is a popular place for families, as children make up 25.4% of the population. The area has a highly educated workforce, with 46.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.6% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		27,800-3.5%
    % Under 18
    		25.4%4.1%
    % Seniors
    		15.4%18.5%
    % WFH
    		10.6%278.6%
    % w/ College Degree
    		46.8%6.4%
    Loading chart...

    As of the latest ACS Survey released in 2023, Morgan Park, Chicago, IL is a predominantly white area, with 78.9% of the population identifying as white. The white population has shrunk by 4.5% in the last 5 years. The second most common race or ethnicity in Morgan Park, Chicago, IL is hispanic, making up 10.4% of the population. Foreign-born residents account for 2.4% of the population in Morgan Park, Chicago, IL, and this percentage has decreased by 35.1% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		78.9%-4.5%
    % Black
    		6.3%-8.7%
    % Hispanic
    		10.4%25.3%
    % Asian
    		0.9%-40.0%
    % Foreign Born
    		2.4%-35.1%
    Loading chart...

    Mortgage and Risk — Morgan Park, Chicago, IL

    According to HUD data as of 2023, there were 495 mortgage originations in Morgan Park, Chicago, IL, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 41.0% above 90% LTV (very high). This implies large mortgage risk in Morgan Park, Chicago, IL. Investor activity is low, as 2.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		495
    % Conventional Loans
    		78.0%
    % Government Loans
    		22.0%
    % Investor Loans
    		2.0%
    % Second Loans
    		0.0%
    % Cash Out Refinance
    		12.0%
    Loading chart...
    Loading chart...

    Rentals and Section 8 — Morgan Park, Chicago, IL

    Morgan Park, Chicago, IL lacks sufficient Section 8 program data for analysis.

    Section 8 Market Size

    Total Units under HUD
    		99
    Total Units Section 8
    		97
    % Rentals under Section 8
    		4.2%
    % Occupied Section 8
    		86.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$150$1,320$1,470
    2 Bedroom$110$1,550$1,660
    3 Bedroom-$870$3,000$2,130
    4 BedroomN/AN/A$2,500

    Affordability — Morgan Park, Chicago, IL

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio2.6
    Median Home Price$339,000
    Median Household Income$114,000

    Morgan Park, Chicago, IL — ZIP Code Boundary Map

    Loading map...

    Nearby ZIP Codes

    Evergreen Park, IL

    60805

    Alsip, IL

    60803

    Beverly, Chicago, IL

    60643

    Blue Island, IL

    60406

    Hometown, IL

    60456

    Frequently Asked Questions