Chicago, IL metro area Housing Market Brief
metro · as of July 2026
What is Chicago, 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 Chicago, IL metro area in its market cycle?
Chicago, IL metro area is classified as Mature — holding near a healthy peak. This is a classification of recent (1–12 month) momentum, not a price forecast.
What’s the forecast for Chicago, IL metro area?
Our model forecasts Chicago, IL metro area’s home prices to rise about 4.7% 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.
Chicago, IL metro area housing market data
| Metric | Value | YoY |
|---|---|---|
| Median Sale Price | $382K | ▲ +5.9% |
| Median Days on Market | 53 days | ▼ -1.8% |
| Months of Supply | 3.1 | ▼ -3.3% |
| Homes for Sale | 18,267 | ▼ -5.6% |
| Homes Sold | 6,148 | ▼ -1.1% |
| Median Price / Sq Ft | $235 | ▲ +5.5% |
How has Chicago, IL metro area’s Alpha Score moved?
Markets like Chicago, IL metro area
- Elgin, IL metro areametro52
- Lake County, IL metro areametro54
- Providence, RI metro area, RImetro44
- New York, NY metro areametro52
- Nassau County, NY metro areametro54
- Los Angeles, CA metro areametro49
- Virginia Beach, VA metro area, VAmetro52
- Camden, NJ metro areametro49
- Buffalo, NY metro area, NYmetro55
- St. Louis, MO metro area, MOmetro59
Frequently asked questions
Is Chicago, IL metro area a buyer's or seller's market?
As of July 2026, Chicago, 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 Chicago, IL metro area?
The median sale price in Chicago, IL metro area is $382K, having risen 5.9% over the past year.
How affordable is Chicago, IL metro area?
Chicago, 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 Chicago, IL metro area's Alpha Score?
Chicago, IL metro area's strongest dimension is Price Momentum (83/100) and its weakest is Inventory Health (31/100). The Alpha Score is a weighted blend of all five dimensions.
Want the live, interactive view of Chicago, IL metro area? Open the full market dashboard — charts, ZIP-level drill-down, and watchlist tracking. Explore the map or read the methodology.