Amid surging interest rates and inflation hitting decade highs, home values are up overall in Chicago and the suburbs.
As of December 2022, the average value of a single-family home in the Chicago area was just over $375,000 — about $20,000 above the national average.
In parts of Chicago and the surrounding region, the average home value soars far above the national average. In the city’s Lincoln Park neighborhood, the average price of a home is a whopping $979,445. In the suburbs of Winnetka, Hinsdale and Lake Forest, the average home value is even greater, exceeding $1 million.
On the city’s South Side and in the south suburbs, the average price of single-family homes is far below the regional average. In Englewood, the average home value is $117,637 — the lowest in the Chicago area.
Take a look at the map below to compare Chicago area home values. Hover over each ZIP code to see the average home value in that area.
