Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$355,650+5.0% YoY · prices are rising fast
Market right nowSeller's marketFewer homes for sale than last year, 18% have cut their price
Income needed to buy, per year$77,097About 0.8× the local median income ($91,528): affordable for a typical household
Days on market37 daysAbout the same pace as a year ago
Next 12 months+2.7%Zillow expects prices to rise slightly
The typical home in Chicago-Naperville-Elgin, IL-IN is worth $355,650, up 5.0% from a year ago. That is slightly above what local incomes have historically supported: fair value is about $335,165, so the area is 6.1% overvalued. It is a seller's market: homes take about 37 days to sell, listings are down 0% from a year ago, 18% of listings have had a price cut. Zillow expects prices to rise about 2.7% over the next year. A household needs about $77,097 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $91,528. Typical rent is $2,163 a month, or $2,536 for a house. In the latest IRS figures, 47,153 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$355,650
Change in 1 year
+5.0%
Overvalued %
+6.1%
Show 7 more
Fair home value
$335,165
Change in 5 years
+27.9%
Zillow forecast, next 12 months
+2.7%
Home value to income
3.9×
Monthly mortgage payment (20% down)
$1,927
Income needed to afford it
$77,097
Property tax rate
1.98%
Rent and investing
Typical rent
$2,163
Typical rent for houses
$2,536
Price-to-rent ratio
13.7×
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HUD Fair Market Rent, 2 bedrooms
$1,963
Gross rental yield
7.30%
Cap rate (estimate)
4.74%
Market activity
Listings vs a year ago
−0.2%
Days on market
37
Listings with a price cut
17.6%
Show 3 more
Homes for sale
16,713
Pending sales per 100 listings
60
Asking price per sq ft
$219
People and jobs
Median household income
$91,528
Population change (1 year)
+0.2%
Unemployment rate
6.2%
Show 4 more
Population
9,434,123
Income adjusted for cost of living
$88,347
Net moves in (IRS)
−47,153
Cost of living (US = 100)
103.6
Schools, risk and environment
School rating (1 to 10)
5.8
FEMA hazard risk score (0 to 100)
97.0
Unhealthy air days a year
18
Show 4 more
Flood risk score
97.3
Wildfire risk score
49.7
Walkability (1 to 20)
11.6
Road, rail and air noise
53 dB
Questions people ask
Is Chicago-Naperville-Elgin, IL-IN overvalued?
Home prices in Chicago-Naperville-Elgin, IL-IN are slightly above what local incomes have historically supported: fair value is about $335,165, so the area is 6.1% overvalued.
Is Chicago-Naperville-Elgin, IL-IN a buyer's or seller's market?
Chicago-Naperville-Elgin, IL-IN is a seller's market: homes take about 37 days to sell, listings are down 0% from a year ago, 18% of listings have had a price cut.
Are home prices going down in Chicago-Naperville-Elgin, IL-IN?
Home values in Chicago-Naperville-Elgin, IL-IN are up 5.0% over the last year. Zillow's forecast for the next 12 months is +2.7%.
How much do you need to earn to buy a home in Chicago-Naperville-Elgin, IL-IN?
A household needs about $77,097 a year to afford the typical home in Chicago-Naperville-Elgin, IL-IN at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $91,528.