Elgin, IL metro area Housing Market Brief
metro · as of May 2026
What is Elgin, IL metro area’s Alpha Score?
The Alpha Score is a composite 0–100 index of market strength, a weighted blend of five dimensions. See the methodology.
Where is Elgin, IL metro area in its market cycle?
Elgin, IL metro area is classified as Growing — strengthening, with scores rising over recent months. This is a classification of recent (1–12 month) momentum, not a price forecast.
Elgin, IL metro area housing market data
| Metric | Value | YoY |
|---|---|---|
| Median Sale Price | $395K | ▲ +7.9% |
| Median Days on Market | 49 days | ▲ +4.3% |
| Months of Supply | 2.6 | ▲ +8.3% |
| Homes for Sale | 2,407 | ▲ +12.8% |
| Homes Sold | 909 | ▲ +2.8% |
| Median Price / Sq Ft | $209 | ▲ +4.1% |
| Sale-to-List Ratio | 100.7% | 0% |
How has Elgin, IL metro area’s Alpha Score moved?
Markets like Elgin, IL metro area
- Chicago, IL metro areametro52
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- Providence, RI metro areametro50
- Los Angeles, CA metro areametro49
- Buffalo, NY metro areametro49
- Nassau County, NY metro areametro54
- Camden, NJ metro areametro49
- New York, NY metro areametro52
- Virginia Beach, VA metro areametro50
- New Brunswick, NJ metro areametro47
Frequently asked questions
Is Elgin, IL metro area a buyer's or seller's market?
As of May 2026, Elgin, IL metro area is classified as a Balanced Market, based on its Alpha Score of 52 out of 100. The classification reflects current price, inventory, affordability, economic, and rental-yield conditions.
Are home prices rising or falling in Elgin, IL metro area?
The median sale price in Elgin, IL metro area is $395K, having risen 7.9% over the past year.
How affordable is Elgin, IL metro area?
Elgin, IL metro area scores 50 out of 100 on affordability — moderately affordable relative to local incomes and prevailing mortgage rates compared with other metros.
What's driving Elgin, IL metro area's Alpha Score?
Elgin, IL metro area's strongest dimension is Price Momentum (87/100) and its weakest is Inventory Health (28/100). The Alpha Score is a weighted blend of all five dimensions.
Want the live, interactive view of Elgin, IL metro area? Open the full market dashboard — charts, ZIP-level drill-down, and watchlist tracking. Explore the map or read the methodology.