| Metric | Latest | Detail |
|---|---|---|
| Median listing price | $389,450 | +4.6% YoY |
| Median price per sq ft | $220 | 1,748 sq ft median |
| Median days on market | 36 | -4% YoY |
| Active listings | 15,929 | -5% YoY |
| New listings this month | 8,962 | September 2026 |
| Listings with a price cut | 16% | Share of active |
| Median sale price (closed) | $400,000 | +6.7% YoY · closed sales, July 2026 |
| Sale-to-list ratio | 100.2% | Closed sales, July 2026, seasonally adjusted |
| Pending-to-active ratio | 68.6% | 10,934 pending |
| Inventory vs 2019 | 40% | Active listings vs same month in 2019 |
| Gross rental yield | 5.4% | 2BR fair market rent |
Major metropolitan market · Illinois · September 2026 data
What is the Chicago, IL real estate market doing?
As of September 2026, the median home listed in Chicago, IL asks $389,450, up 4.6% year over year. Homes spend a median of 36 days on market, with 15,929 active listings and 16% carrying a price cut; pending contracts equal 69% of active listings, and inventory sits at 40% of the same month in 2019 — a seller's market. Estimated gross rental yield on the median listing is 5.4%. Figures come from public records and industry data, updated monthly.
Median listing price
$389,450
▲ 4.6% YoY
Median $ / sq ft
$220
1,748 sq ft median
Median days on market
36
September 2026
Active listings
15,929
For sale now
New listings
8,962
September 2026
Listings with price cuts
16%
Share of active
Inventory vs 2019
40%
Same month, 2019 = 100
Pending / active
69%
Contract activity
Median sale price (closed)
$400,000
▲ 6.7% YoY · closed sales · July 2026
Sale-to-list ratio
100.2%
Closed sales · July 2026, seasonally adjusted
Homes sold / month
6,181
Closed sales · July 2026, seasonally adjusted
What is the Chicago, IL housing market doing right now?
The Chicago, IL housing market lists at a $389,450 median as of September 2026, up 4.6% year over year, with a 36-day median market time and 15,929 homes for sale (16% with a price cut). Active inventory is 40% of the 2019 level, reading as a seller's market under WealthyBud's published buyer/seller rule. Gross rental yield is about 5.4%.
Chicago housing market statistics
The table summarizes Chicago's key housing figures for September 2026 — median listing and closed-sale prices, market pace, inventory and rental yield — each computed from public records and industry data. Closed-sale figures are Redfin's July 2026 data, the latest settled month Redfin reports for Chicago.
How have home prices changed in Chicago?
Chicago home prices are up 4.6% year over year and -1.4% month over month as of September 2026, at a $389,450 median listing price. The chart tracks the trailing eight-quarter trend in the metro's median asking price.
Median listing price, Chicago IL · trailing 8 quarters · source: public records and industry data.
The 10-year view
10-year median listing price, Chicago IL · June of each year, 2017–2026 · source: public records and industry data.
How much inventory is on the market in Chicago?
Chicago has 15,929 active listings, 8,962 new this month, 10,934 pending as of September 2026. About 16% of active listings have cut their price, and inventory sits at 40% of its 2019 level — a seller's market by pace.
Is Chicago a good real estate investment?
Chicago scores 80/100 on WealthyBud's composite Investor Score, ranking #20 of 933 covered U.S. metros as of September 2026. The score blends price momentum, value, rental yield, supply and market heat into one percentile. It is a research opinion, not advice.
Investor Score
80/100
#20 of 933 covered metros
Chicago scores 80/100 on our composite Investor Score (#20 of 933 covered metros), a percentile blend of momentum, value, rental yield, supply and market-heat readings; at the published FY2026 fair market rent of $1,743/mo for a two-bedroom, the gross rental yield on the median listing is about 5.4%; active inventory sits at 40% of its June 2019 level, so supply is still below pre-pandemic norms; listing prices are up 4.6% year over year; all against a national 30-year fixed mortgage rate of 7.28% (national weekly average, 2026-10-01).
Scores are percentile ranks (0–100) across all covered U.S. metros, computed from the public data cited on this page — formulas here. They are data-derived opinions, not investment advice. See how Chicago ranks on the trending markets index.
How much is a monthly mortgage payment in Chicago?
A home at Chicago's $389,450 median listing runs about $2,132 a month in principal and interest — 20% down on a 30-year fixed loan at the current 7.28% national average rate. Taxes, insurance and HOA are extra.
If rates fall 1% · 6.28%
$1,924/mo
−$207/mo vs today
At today's rate · 7.28%
$2,132/mo
National weekly average
If rates rise 1% · 8.28%
$2,347/mo
+$215/mo vs today
Principal & interest on the $389,450 median listing with 20% down and a 30-year fixed loan — excludes taxes, insurance and HOA. Current rate: 7.28% (national weekly average, 2026-10-01). Model a full deal in the deal analyzer.
How much income do you need to buy a home in Chicago?
To buy Chicago’s $389,450 median listing with 20% down, a household needs about $120,000 a year in gross income, keeping principal, interest and property tax ($2,807/mo) at 28% of income. That is 1.4× the area’s $88,850 median household income, so a typical Chicago household cannot afford the median listing on these terms.
| Item | Amount | Basis |
|---|---|---|
| Median listing price | $389,450 | September 2026 |
| Down payment (20%) | $77,890 | Assumption |
| Principal & interest (7.28%, 30-yr fixed) | $2,132/mo | Rate as of 2026-10-01 |
| Property tax (2.08% effective rate) | $675/mo | Census ACS |
| Income needed (28% rule) | $120,000 | Gross household income / yr |
| Median household income | $88,850 | Census ACS 2023 ACS 5-year |
Excludes homeowners insurance, HOA dues and mortgage insurance, so the true income needed is higher. Compare every market in the income-needed ranking and the price-to-income ranking.
What is driving the Chicago housing market?
Longer-run demand in Chicago shows up in 15,874 homes permitted in 2025; net migration of -47,153 residents; +0.2% job growth. Natural-hazard risk rates Very High. These federal supply-pipeline, migration and jobs signals shape where prices head next.
Building permits (2025)
15,874
▼ 9.4% vs 2024
1.7 per 1,000 residents
Net migration (2022–2023)
-47,153
▼ people, via tax-return records
net income flow −$5179.4M/yr
Job growth (YoY)
+0.2%
▲ 4,785.0k nonfarm jobs · August 2026
Natural-hazard risk
Very High
National hazard index · top hazard: Riverine flooding
Based on public government records — building-permit, tax-return migration, employment and natural-hazard statistics, aggregated to the metro. Details on /methodology.
What is the latest Chicago real estate news?
Cities With the Fastest-growing Home Prices in IllinoisStacker · 2026-06-29→Illinois home prices jump as inventory plungesIllinois Policy · 2026-03-26→Real Estate Market Trends in Chicago, IL: Prices FallYahoo Finance · 2026-04-10→Affordability — or the lack of it — will define Chicago’s housing market this year, experts sayWBEZ Chicago · 2026-01-30→
Chicago headlines indicate conflicting trends of falling prices but also price growth and affordability concerns amidst low inventory. — AI-generated summary of the headlines above; read the linked coverage before relying on it.
Headlines collected 2026-07-05; each links to the original publisher.
Client-ready report
Open report gallery
Send a branded Chicago market report to your clients.
Find the best in Chicago
Drill down
Chicago by ZIP code
Median price, pace and inventory for 61 Chicago ZIPs — the spread behind the metro number.
Explore DirectoryTop agents in Chicago
The highest-producing real estate agents in Chicago, ranked by recent sales.
View DirectoryTop teams
The groups setting production records nationwide.
View LicensingGet licensed in Illinois
Hours, exam and the commission that regulates Illinois agents.
Read IncomeAgent salary in Illinois
What real estate agents actually earn across Illinois.
ReadChicago housing market FAQ
What is the median home price in Chicago?
As of September 2026, the median listing price in Chicago, IL is $389,450, up 4.6% year over year (source: public records and industry data).
How much does it cost to buy a home in Chicago?
The median home listed in Chicago asks $389,450 as of September 2026. With 20% down on a 30-year fixed loan at the current 7.28% national average rate, that runs about $2,132 a month in principal and interest, before taxes, insurance and HOA.
How fast are homes selling in Chicago?
The median property in Chicago spends 36 days on the market, with 15,929 homes actively listed and 16% of them carrying a price cut — a seller's market as of September 2026.
Is it a buyer's or seller's market in Chicago?
With a median 36 days on market and 16% of active listings carrying a price cut, pending contracts at 69% of active listings, Chicago reads as a seller's market as of September 2026. Labels use WealthyBud's published DOM / sale-to-list / price-cut / pending rule. Conditions shift monthly.
Is Chicago a good place to invest in real estate?
Chicago scores 80/100 on WealthyBud's Investor Score, ranking #20 of 933 covered U.S. metros as of September 2026. The score blends price momentum, value, rental yield, supply and market heat. It is a data-derived research opinion, not investment advice.
Who are the top real estate agents in Chicago?
See WealthyBud directories for the top-producing agents, teams and brokerages serving Chicago and the wider Illinois market, ranked by recent sales from public profile data.
Based on public records and industry data, September 2026 — see our methodology for how every figure is computed. Figures change monthly — verify current conditions with a local agent or MLS. Portions of market data courtesy of Realtor.com and Redfin; additional statistics from U.S. government sources.
Nearby & similar