Home Values

Illinois 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

$156,200

  • 6.1% 1-year change
  • 2.8% 1-year forecast

The median home value in Illinois is $156,200. Illinois home values have gone up 6.1% over the past year and Zillow predicts they will rise 2.8% within the next year. The median list price per square foot in Illinois is $121. The median price of homes currently listed in Illinois is $182,500 while the median price of homes that sold is $197,350. The median rent price in Illinois is $1,600.

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 Illinois is 7.2%, which is higher than the national value of 6.9%. 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 Illinois homeowners underwater on their mortgage is 24.7%.

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Relative ZHVI
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Illinois Market Overview

Data through Sep 30, 2014
  • $156,200 ZHVI
  • 2.8% 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
    (Sep 30, 2015)
  • $182,500 Median listing price
  • $197,350 Median sale price
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Illinois Market Health

Data through Sep 30, 2014
  • 1.3/10 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.
  • 101 Average days on Zillow (Aug 31, 2014)
  • 24.7% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 7.2% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)
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Cities in Illinois

Name Median ZHVI
Naperville $373,500
Plainfield $209,700
Chicago $186,200
Name Median ZHVI
Elgin $152,700
Aurora $146,200
Joliet $115,300
Name Median ZHVI
Springfield $111,200
Peoria $90,500
Rockford $74,500

Listings & Sales

Data through Sep 30, 2014
  • $121 Median list price / sq ft
  • $138 Median sale price / sq ft
  • 45.3% Listings with price cut
32.3%
Sold below listing
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Illinois Rentals

Data through Sep 30, 2014
  • Zillow Rent Index

  • $1,481 Illinois
    $1,335 United States

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

  • No data Breakeven horizon
  • $1,600 Rent list price
  • No data Rent list price / sq ft
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