Home Values

60642 Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$352,600

  • 4.9% 1-year change
  • 1.8% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this zip code relative to other zip codes in the same metropolitan area. A particular zip code may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Hot

Buyers' Market
Sellers' Market

The median home value in 60642 is $352,600. 60642 home values have gone up 4.9% over the past year and Zillow predicts they will rise 1.8% within the next year. The median list price per square foot in 60642 is $261, which is higher than the Chicago average of $180. The median price of homes currently listed in 60642 is $365,000 while the median price of homes that sold is $421,500. The median rent price in 60642 is $2,150, which is higher than the Chicago median of $1,655.

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in 60642 is 1.7%, which is lower than the national value of 6.4%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of 60642 homeowners underwater on their mortgage is 31.6%, which is higher than Chicago at 31.6%.

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Relative ZHVI
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60642 Market Overview

Data through Nov 30, 2014
  • $352,600 ZHVI
  • 1.8% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Nov 30, 2015)
  • $365,000 Median listing price
  • $421,500 Median sale price
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60642 Market Health

Data through Nov 30, 2014
  • 2.5/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 31.6% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 1.7% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)
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Nearby Zip Codes

Name Median ZHVI
60614 $380,800
60622 $364,300
60610 $248,700
Name Median ZHVI
60607 $247,700
60606 $247,300
60654 $241,200
Name Median ZHVI
60661 $232,700
 
 

Listings & Sales

Data through Nov 30, 2014
  • $261 Median list price / sq ft
  • $280 Median sale price / sq ft (Sep 30, 2014)
  • No data Listings with price cut
18.1%
Sold below listing
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60642 Rentals

Data through Nov 30, 2014
  • Zillow Rent Index

  • $2,261 60642
    $1,673 Chicago
    $1,342 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 2.3 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $2,150 Rent list price
  • $1.78 Rent list price / sq ft
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