Elgin, IL metro area Housing Market Brief
metro · IL · as of August 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.
What’s the forecast for Elgin, IL metro area?
Our model forecasts Elgin, IL metro area’s home prices to rise about 3.3% over the next 12 months (high confidence).
This is a separate, forward-looking view — not the cycle classification above. See how past forecasts performed on the track record, or the full local forecast with its confidence range on the market page.
Elgin, IL metro area housing market data
| Metric | Value | YoY |
|---|---|---|
| Median Sale Price | $399K | ▲ +5.7% |
| Median Days on Market | 57 days | ▲ +1.8% |
| Months of Supply | 2.6 | ▼ -3.7% |
| Homes for Sale | 2,061 | ▲ +3.9% |
| Homes Sold | 845 | ▲ +8.3% |
| Median Price / Sq Ft | $208 | ▲ +6.1% |
How has Elgin, IL metro area’s Alpha Score moved?
Markets like Elgin, IL metro area
- Lake County, IL metro area, ILmetro57
- Rochester, NY metro area, NYmetro58
- Syracuse, NY metro area, NYmetro55
- Buffalo, NY metro area, NYmetro51
- Wilmington, DE metro area, DEmetro50
- Hagerstown, MD metro area, MDmetro52
- Bloomington, IL metro area, ILmetro58
- Minneapolis, MN metro area, MNmetro48
- Camden, NJ metro area, NJmetro56
- Racine, WI metro area, WImetro62
Frequently asked questions
Is Elgin, IL metro area a buyer's or seller's market?
As of August 2026, Elgin, IL metro area is classified as a Balanced Market, based on its Alpha Score of 55 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 $399K, having risen 5.7% over the past year.
How affordable is Elgin, IL metro area?
Elgin, IL metro area scores 62 out of 100 on affordability — relatively 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 (83/100) and its weakest is Inventory Health (40/100). 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.