Calumet City, Illinois Housing Market Prices
Calumet City Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 24% below the Illinois median$113,588
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Median rent 7% below the Illinois median$1,190
Housing Market Overview
| Metric | Calumet City | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $113,588 | $149,936 | $248,835 |
| Price Trend (Annual %) | 7.7% | 2.5% | 7.5% |
| Median Gross Rent | $1,190 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 3.0% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Calumet City is about 24% lower than in Illinois. Rent is about 7% lower than the Illinois average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Calumet City, up about 7.7% and 3.0% a year respectively. Home prices are changing faster.
Median rent in Calumet City rose about 28.2% between 2015 and 2024, from $929 to $1,190. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 2.0 yearly household incomes in Calumet City.
Buying the median-priced home in Calumet City costs roughly 8.0 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Calumet City. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Calumet City | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $113,588 | $149,936 | $248,835 |
| Median Household Income | $57,106 | $84,042 | $80,455 |
| Price-to-Income Ratio | 2.0 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Calumet City rose about 79.3%, while median household income rose about 16.9% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Calumet City | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 49.3% | 61.9% | 58.5% |
| Rental Rate | 37.0% | 30.4% | 31.2% |
| Vacancy Rate | 13.6% | 7.7% | 10.2% |
| Median Tenure (years) | 15.0 | 16.0 | 15.0 |
| Median Year Moved In | 2011 | 2010 | 2011 |
Calumet City has a homeownership rate of 49.3%, lower than the Illinois average of 61.9%. Its housing vacancy rate is 13.6%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Calumet City | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.53 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1964 | 1969 | 1978 |
| Median Number of Rooms | 5.3 | 5.6 | 5.5 |
The typical housing unit in Calumet City was built around 1964. On average, 2.5 people live in a home with about 5.3 rooms, staying for about 15.0 years on average.
Calumet City, IL Housing Compared With Nearby Cities
Calumet City, IL is the 2nd largest of the 5 cities compared here, 34,245 residents against a local median of 23,947. The measure that sets Calumet City, IL apart most is median home price: $113,588, 44% above the local median of $79,034.
Homeownership tells the same story from another angle: 57.1% against a local median of 71.1%, 20% below it. The one measure here that carries a verdict is homeownership, and at 20% below the local median it puts Calumet City, IL at the weaker end of the local range. The cities themselves spread $53,437 on median home price, so Calumet City, IL sits at one end of an already wide local range rather than apart from it. Calumet City, IL has the highest median home price of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Calumet City, IL | 34,245 | $113,588 #1/5 | $1,190 #4/5 | 57.1% #5/5 |
| Lansing, IL | 25,475 | $53,342 | $1,268 | 72.5% |
| Dolton, IL | 20,134 | $106,779 | $1,366 | 69.6% |
| South Holland, IL | 22,419 | $97,060 | $1,568 | 81.8% |
| Hammond, IN | 76,072 | $61,008 | $1,135 | 62.4% |
Frequently Asked Questions
Common questions about the housing market in Calumet City, Illinois.
What is the median home price in Calumet City, Illinois?
The median home price in Calumet City, Illinois is $113,588, lower than the Illinois average of $149,936.
What is the average home price in Calumet City, Illinois?
The typical home price in Calumet City, Illinois, reported as the median sale price, is $113,588. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Calumet City, Illinois?
The median gross rent in Calumet City, Illinois is $1,190 per month, lower than the Illinois average of $1,274.
What was the median gross rent in Calumet City in 2020?
In 2020, the median gross rent in Calumet City, Illinois was $970 per month.
What is the price-to-rent ratio in Calumet City, Illinois?
The price-to-rent ratio in Calumet City, Illinois is about 8.0, meaning it would take roughly 8.0 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Calumet City.
Are home prices or rent rising faster in Calumet City, Illinois?
Both home prices and rent are rising in Calumet City, up about 7.7% and 3.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Calumet City, Illinois?
49.3% of households in Calumet City, Illinois own their home, lower than the Illinois average of 61.9%.
What is the vacancy rate in Calumet City, Illinois?
The housing vacancy rate in Calumet City, Illinois is 13.6%, higher than the Illinois average of 7.7%.
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