Chicago Heights, Illinois Housing Market Prices
Chicago Heights 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 8% above the Illinois median$161,857
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Median rent 15% below the Illinois median$1,088
Housing Market Overview
| Metric | Chicago Heights | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $161,857 | $149,936 | $248,835 |
| Price Trend (Annual %) | 9.4% | 2.5% | 7.5% |
| Median Gross Rent | $1,088 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 3.2% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Chicago Heights is about 8% higher than in Illinois. Rent is about 15% 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 Chicago Heights, up about 9.4% and 3.2% a year respectively. Home prices are changing faster.
Median rent in Chicago Heights rose about 27.5% between 2015 and 2024, from $853 to $1,088. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 2.8 yearly household incomes in Chicago Heights.
Buying the median-priced home in Chicago Heights costs roughly 12.4 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 Chicago Heights. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Chicago Heights | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $161,857 | $149,936 | $248,835 |
| Median Household Income | $57,657 | $84,042 | $80,455 |
| Price-to-Income Ratio | 2.8 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Chicago Heights rose about 96.4%, while median household income rose about 33.9% 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 | Chicago Heights | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.0% | 61.9% | 58.5% |
| Rental Rate | 31.0% | 30.4% | 31.2% |
| Vacancy Rate | 14.0% | 7.7% | 10.2% |
| Median Tenure (years) | 15.0 | 16.0 | 15.0 |
| Median Year Moved In | 2011 | 2010 | 2011 |
Chicago Heights has a homeownership rate of 55.0%, lower than the Illinois average of 61.9%. Its housing vacancy rate is 14.0%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Chicago Heights | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.83 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1959 | 1969 | 1978 |
| Median Number of Rooms | 5.8 | 5.6 | 5.5 |
The typical housing unit in Chicago Heights was built around 1959. On average, 2.8 people live in a home with about 5.8 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Chicago Heights, Illinois.
What is the median home price in Chicago Heights, Illinois?
The median home price in Chicago Heights, Illinois is $161,857, higher than the Illinois average of $149,936.
What is the average home price in Chicago Heights, Illinois?
The typical home price in Chicago Heights, Illinois, reported as the median sale price, is $161,857. 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 Chicago Heights, Illinois?
The median gross rent in Chicago Heights, Illinois is $1,088 per month, lower than the Illinois average of $1,274.
What was the median gross rent in Chicago Heights in 2020?
In 2020, the median gross rent in Chicago Heights, Illinois was $946 per month.
What is the price-to-rent ratio in Chicago Heights, Illinois?
The price-to-rent ratio in Chicago Heights, Illinois is about 12.4, meaning it would take roughly 12.4 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 Chicago Heights.
Are home prices or rent rising faster in Chicago Heights, Illinois?
Both home prices and rent are rising in Chicago Heights, up about 9.4% and 3.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Chicago Heights, Illinois?
55.0% of households in Chicago Heights, Illinois own their home, lower than the Illinois average of 61.9%.
What is the vacancy rate in Chicago Heights, Illinois?
The housing vacancy rate in Chicago Heights, Illinois is 14.0%, higher than the Illinois average of 7.7%.
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