Amid surging interest rates and inflation hitting decade highs, home values are up overall in Chicago and the suburbs.
As of December 2022, the average value of a single-family home in the Chicago area was just over $375,000 — about $20,000 above the national average.
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In parts of Chicago and the surrounding region, the average home value soars far above the national average. In the city’s Lincoln Park neighborhood, the average price of a home is a whopping $979,445. In the suburbs of Winnetka, Hinsdale and Lake Forest, the average home value is even greater, exceeding $1 million.
On the city’s South Side and in the south suburbs, the average price of single-family homes is far below the regional average. In Englewood, the average home value is $117,637 — the lowest in the Chicago area.
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Take a look at the map below to compare Chicago area home values. Hover over each ZIP code to see the average home value in that area.
