Evanston, Illinois Housing Market Prices
Updated
Evanston 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.
-
Median home price 111% above the Illinois median$315,872
-
Median rent 38% above the Illinois median$1,760
Housing Market Overview
| Metric | Evanston | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $315,872 | $149,936 | $248,835 |
| Price Trend (Annual %) | 0.2% | 2.5% | 7.5% |
| Median Gross Rent | $1,760 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 4.6% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Evanston is about 111% higher than in Illinois. Rent is about 38% higher 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 Evanston, up about 0.2% and 4.6% a year respectively. Rent is changing faster.
Median rent in Evanston rose about 47.8% between 2015 and 2024, from $1,191 to $1,760. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 3.3 yearly household incomes in Evanston.
Buying the median-priced home in Evanston costs roughly 15.0 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 Evanston. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Evanston | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $315,872 | $149,936 | $248,835 |
| Median Household Income | $94,783 | $84,042 | $80,455 |
| Price-to-Income Ratio | 3.3 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Evanston rose about 11.6%, while median household income rose about 29.4% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Evanston | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 52.3% | 61.9% | 58.5% |
| Rental Rate | 41.1% | 30.4% | 31.2% |
| Vacancy Rate | 6.7% | 7.7% | 10.2% |
| Median Tenure (years) | 12.0 | 16.0 | 15.0 |
| Median Year Moved In | 2014 | 2010 | 2011 |
Evanston has a homeownership rate of 52.3%, lower than the Illinois average of 61.9%. Its housing vacancy rate is 6.7%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Evanston | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.21 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1956 | 1969 | 1978 |
| Median Number of Rooms | 5.1 | 5.6 | 5.5 |
The typical housing unit in Evanston was built around 1956. On average, 2.2 people live in a home with about 5.1 rooms, staying for about 12.0 years on average.
Evanston, IL Housing Compared With Nearby Cities
How Evanston, IL compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Evanston, IL | 67,656 | $315,872 #2/2 | $1,760 #1/2 | 56.0% #2/2 |
| Skokie, IL | 65,951 | $605,908 | $1,560 | 74.8% |
Frequently Asked Questions
Common questions about the housing market in Evanston, Illinois.
What is the median home price in Evanston, Illinois?
The median home price in Evanston, Illinois is $315,872, higher than the Illinois average of $149,936.
What is the average home price in Evanston, Illinois?
The typical home price in Evanston, Illinois, reported as the median sale price, is $315,872. 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 Evanston, Illinois?
The median gross rent in Evanston, Illinois is $1,760 per month, higher than the Illinois average of $1,274.
What was the median gross rent in Evanston in 2020?
In 2020, the median gross rent in Evanston, Illinois was $1,425 per month.
What is the price-to-rent ratio in Evanston, Illinois?
The price-to-rent ratio in Evanston, Illinois is about 15.0, meaning it would take roughly 15.0 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 Evanston.
Are home prices or rent rising faster in Evanston, Illinois?
Both home prices and rent are rising in Evanston, up about 0.2% and 4.6% a year respectively. Rent is changing faster.
What is the homeownership rate in Evanston, Illinois?
52.3% of households in Evanston, Illinois own their home, lower than the Illinois average of 61.9%.
What is the vacancy rate in Evanston, Illinois?
The housing vacancy rate in Evanston, Illinois is 6.7%, lower than the Illinois average of 7.7%.
Size up the neighborhood around one home
Home values, rent, homeownership, schools, crime, health and nearby amenities for any US address, in one neighborhood report. Ready in about 3 minutes, in your browser or as a PDF.
Explore My Address →