Grant Park, IL—60940
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Grant Park, IL
As of Oct '25, the median home price in Grant Park, IL is $280,000, with a year-over-year change of 2.2%. This indicates that home prices in Grant Park, IL are increasing. According to Zillow, the 1-year price projection is 2.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $280,000 | 2.2% |
| Single Family | $281,000 | 2.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $270,000 | 3.8% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Grant Park, IL
Grant Park, IL lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Grant Park, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Grant Park, IL is 66. This is a decrease of -27.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $629,000 | 31.0% |
Listing Count | 6 | 29.0% |
| Listings as % of Homes | 0.3% | 29.0% |
Days on Market | 66 | -27.0% |
Demographics — Grant Park, IL
As of the latest ACS Survey released in 2023, Grant Park, IL has a population of 3,510, which has increased by 2.2% over the past 5 years. Grant Park, IL is a popular place for families, as children make up 35.4% of the population. The area has a poorly educated workforce, with 18.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,510 | 2.2% |
% Under 18 | 35.4% | 73.5% |
% Seniors | 16.3% | 2.5% |
% WFH | 8.8% | 66.0% |
% w/ College Degree | 18.8% | 30.6% |
As of the latest ACS Survey released in 2023, Grant Park, IL is a predominantly white area, with 90.1% of the population identifying as white. The white population has grown by 1.7% in the last 5 years. The second most common race or ethnicity in Grant Park, IL is hispanic, making up 3.6% of the population. Foreign-born residents account for 0.6% of the population in Grant Park, IL, and this percentage has decreased by 82.4% 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 | 90.1% | 1.7% |
% Black | 0.1% | ∞% |
% Hispanic | 3.6% | -64.4% |
% Asian | 0.0% | N/A |
% Foreign Born | 0.6% | -82.4% |
Mortgage and Risk — Grant Park, IL
According to HUD data as of 2023, there were 36 mortgage originations in Grant Park, IL, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 19.0% above 90% LTV (elevated). This implies medium mortgage risk in Grant Park, IL. Investor activity is low, as 3.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 36 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Grant Park, IL
Grant Park, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,010 |
| 2 Bedroom | N/A | N/A | $1,320 |
| 3 Bedroom | N/A | N/A | $1,750 |
| 4 Bedroom | N/A | N/A | $1,750 |
Affordability — Grant Park, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $280,000 |
| Median Household Income | $97,800 |