North Chicago, Illinois Housing Market Prices
North Chicago 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 5% above the Illinois median$157,844
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Median rent 8% above the Illinois median$1,373
Housing Market Overview
| Metric | North Chicago | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $157,844 | $149,936 | $248,835 |
| Price Trend (Annual %) | 15.6% | 2.5% | 7.5% |
| Median Gross Rent | $1,373 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 2.9% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in North Chicago is about 5% higher than in Illinois. Rent is about 8% 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 North Chicago, up about 15.6% and 2.9% a year respectively. Home prices are changing faster.
Median rent in North Chicago rose about 34.3% between 2015 and 2024, from $1,022 to $1,373. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in North Chicago.
Buying the median-priced home in North Chicago costs roughly 9.6 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 North Chicago. The price-to-rent ratio in Illinois is about 9.8.
| Metric | North Chicago | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $157,844 | $149,936 | $248,835 |
| Median Household Income | $59,799 | $84,042 | $80,455 |
| Price-to-Income Ratio | 2.6 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in North Chicago rose about 199.0%, while median household income rose about 18.3% 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 | North Chicago | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 31.1% | 61.9% | 58.5% |
| Rental Rate | 57.8% | 30.4% | 31.2% |
| Vacancy Rate | 11.0% | 7.7% | 10.2% |
| Median Tenure (years) | 12.0 | 16.0 | 15.0 |
| Median Year Moved In | 2014 | 2010 | 2011 |
North Chicago has a homeownership rate of 31.1%, lower than the Illinois average of 61.9%. Its housing vacancy rate is 11.0%, compared with 7.7% in Illinois.
Housing Stock
| Metric | North Chicago | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.79 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1972 | 1969 | 1978 |
| Median Number of Rooms | 5.3 | 5.6 | 5.5 |
The typical housing unit in North Chicago was built around 1972. On average, 2.8 people live in a home with about 5.3 rooms, staying for about 12.0 years on average.
North Chicago, IL Housing Compared With Nearby Cities
How North Chicago, IL compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| North Chicago, IL | 25,553 | $157,844 #2/2 | $1,373 #1/2 | 35.0% #2/2 |
| Waukegan, IL | 86,567 | $255,219 | $1,203 | 52.5% |
Frequently Asked Questions
Common questions about the housing market in North Chicago, Illinois.
What is the median home price in North Chicago, Illinois?
The median home price in North Chicago, Illinois is $157,844, higher than the Illinois average of $149,936.
What is the average home price in North Chicago, Illinois?
The typical home price in North Chicago, Illinois, reported as the median sale price, is $157,844. 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 North Chicago, Illinois?
The median gross rent in North Chicago, Illinois is $1,373 per month, higher than the Illinois average of $1,274.
What was the median gross rent in North Chicago in 2020?
In 2020, the median gross rent in North Chicago, Illinois was $1,191 per month.
What is the price-to-rent ratio in North Chicago, Illinois?
The price-to-rent ratio in North Chicago, Illinois is about 9.6, meaning it would take roughly 9.6 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 North Chicago.
Are home prices or rent rising faster in North Chicago, Illinois?
Both home prices and rent are rising in North Chicago, up about 15.6% and 2.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in North Chicago, Illinois?
31.1% of households in North Chicago, Illinois own their home, lower than the Illinois average of 61.9%.
What is the vacancy rate in North Chicago, Illinois?
The housing vacancy rate in North Chicago, Illinois is 11.0%, higher than the Illinois average of 7.7%.
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