All Home Types
Chicago, IL Housing Market
What is the housing market like in Chicago today?
In August 2023, Chicago home prices were up 4.6% compared to last year, selling for a median price of $340K. On average, homes in Chicago sell after 56 days on the market compared to 59 days last year. There were 2,513 homes sold in August this year, down from 2,688 last year.
Median Sale PriceAll Home Types
Median Sale Price
(All Home Types)
$340,000
+4.6% YoY | Aug 2023
Based on Redfin calculations of home data from MLS and/or public records.
Location
Data
Aug 2023
Growth
% YoY
Chicago, IL
$340,000
+4.6%
United States
Chicago Migration & Relocation Trends
In Jun '23 - Aug '23, 17% of Chicago homebuyers searched to move out of Chicago, while 83% looked to stay within the metropolitan area.
- Across the nation, 4% of homebuyers searched to move into Chicago from outside metros.
- Denver homebuyers searched to move into Chicago more than any other metro followed by Rockford and Lafayette.
Where are people moving to Chicago from?
- 83% of Chicago homebuyers searched to stay within the Chicago metropolitan area.
- Milwaukee was the most popular destination among Chicago homebuyers followed by Cape Coral and Miami.
Where are people from Chicago moving to?
Number of People Moving to Chicago
least
most
People are moving to Chicago from
| Inbound | Net inflow | ||
|---|---|---|---|
| Metros | Jun '23 - Aug '23 | ||
| 1 | 3,817 | ||
| 2 | 1,252 | ||
| 3 | 1,203 | ||
| 4 | 1,166 | ||
| 5 | 929 | ||
| 6 | 721 | ||
| 7 | 669 | ||
| 8 | 533 | ||
| 9 | 462 | ||
| 10 | 391 | ||
People are leaving Chicago for
| Outbound | Net outflow | ||
|---|---|---|---|
| Metros | Jun '23 - Aug '23 | ||
| 1 | 1,814 | ||
| 2 | 1,431 | ||
| 3 | 1,228 | ||
| 4 | 1,124 | ||
| 5 | 1,123 | ||
| 6 | 958 | ||
| 7 | 946 | ||
| 8 | 904 | ||
| 9 | 857 | ||
| 10 | 808 | ||
Methodology
This data does not reflect actual moves. The latest migration analysis is based on a sample of about two
million Redfin.com users who searched for homes across more than 100 metro areas. To be included in this dataset, a Redfin.com user
must have viewed at least 10 homes in a three month period. This dataset excludes all rentals data.
Recently sold homes
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that could impact homes in Chicago.
Risk Factor
Provided by First Street Foundation
Transportation in Chicago
Learn about the walkability, bikeability, and transit-friendliness of Chicago
Very Walkable
Walk Score®
Good Transit
Transit Score®
Very Bikeable
Bike Score®
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