Northbrook, Illinois Housing Market Prices
Updated
Northbrook 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 410% above the Illinois median$764,513
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Median rent 97% above the Illinois median$2,507
Housing Market Overview
| Metric | Northbrook | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $764,513 | $149,936 | $248,835 |
| Price Trend (Annual %) | 15.7% | 2.5% | 7.5% |
| Median Gross Rent | $2,507 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 3.5% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Northbrook is about 410% higher than in Illinois. Rent is about 97% 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 Northbrook, up about 15.7% and 3.5% a year respectively. Home prices are changing faster.
Median rent in Northbrook rose about 28.0% between 2015 and 2024, from $1,959 to $2,507. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 5.0 yearly household incomes in Northbrook.
Buying the median-priced home in Northbrook costs roughly 25.4 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Northbrook. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Northbrook | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $764,513 | $149,936 | $248,835 |
| Median Household Income | $153,635 | $84,042 | $80,455 |
| Price-to-Income Ratio | 5.0 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Northbrook rose about 229.2%, while median household income rose about 23.8% 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 | Northbrook | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 78.0% | 61.9% | 58.5% |
| Rental Rate | 14.4% | 30.4% | 31.2% |
| Vacancy Rate | 7.6% | 7.7% | 10.2% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Northbrook has a homeownership rate of 78.0%, higher than the Illinois average of 61.9%. Its housing vacancy rate is 7.6%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Northbrook | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.55 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1977 | 1969 | 1978 |
| Median Number of Rooms | 7.1 | 5.6 | 5.5 |
The typical housing unit in Northbrook was built around 1977. On average, 2.5 people live in a home with about 7.1 rooms, staying for about 16.0 years on average.
Northbrook, IL Housing Compared With Nearby Cities
How Northbrook, IL compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Northbrook, IL | 32,185 | $764,513 #1/3 | $2,507 #1/3 | 84.4% #2/3 |
| Glenview, IL | 47,742 | $728,638 | $1,884 | 76.6% |
| Highland Park, IL | 26,861 | $337,081 | $1,837 | 84.7% |
Frequently Asked Questions
Common questions about the housing market in Northbrook, Illinois.
What is the median home price in Northbrook, Illinois?
The median home price in Northbrook, Illinois is $764,513, higher than the Illinois average of $149,936.
What is the average home price in Northbrook, Illinois?
The typical home price in Northbrook, Illinois, reported as the median sale price, is $764,513. 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 Northbrook, Illinois?
The median gross rent in Northbrook, Illinois is $2,507 per month, higher than the Illinois average of $1,274.
What was the median gross rent in Northbrook in 2020?
In 2020, the median gross rent in Northbrook, Illinois was $1,915 per month.
What is the price-to-rent ratio in Northbrook, Illinois?
The price-to-rent ratio in Northbrook, Illinois is about 25.4, meaning it would take roughly 25.4 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Northbrook.
Are home prices or rent rising faster in Northbrook, Illinois?
Both home prices and rent are rising in Northbrook, up about 15.7% and 3.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Northbrook, Illinois?
78.0% of households in Northbrook, Illinois own their home, higher than the Illinois average of 61.9%.
What is the vacancy rate in Northbrook, Illinois?
The housing vacancy rate in Northbrook, Illinois is 7.6%, lower than the Illinois average of 7.7%.
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