2026 Affordability Data
Most Affordable Neighborhoods in Chicago - 2026 Data
The median home value in Chicago is $270,000, 4% below nat'l avg. Median rent is $2,391/month. With an affordability index of 181, Chicago is more affordable than the national baseline of 100. We ranked 15 neighborhoods by affordability to help you find the best value in the Chicago, IL area.
Key Takeaways: Affordability in Chicago
- 1The most affordable neighborhood in Chicago is The Loop, with a median home value of $365,000.
- 2Chicago's median home value is $270,000, 4% below nat'l avg (national: $281,900).
- 3Chicago's affordability index is 181 (baseline 100), making it more affordable than the national average.
- 4Median rent in Chicago is $2,391/month, 106% above nat'l avg (national: $1,163/month).
- 5We analyzed 15 neighborhoods in Chicago to find the most affordable areas based on home values, rent, and affordability index.
Chicago Affordability Overview
Median Home Value
$270,000
4% below nat'l avg
Median Rent
$2,391/mo
106% above nat'l avg
Median Income
$62,097
17% below nat'l avg
Affordability Index
181
81% above nat'l avg
Most Affordable Neighborhoods in Chicago (Ranked)
| Rank | Neighborhood | Median Home Value |
|---|---|---|
| 1 | The LoopChicago, IL | $365,000 |
| 2 | Wicker ParkChicago, IL | $425,000 |
| 3 | Hyde ParkChicago, IL | $275,000 |
| 4 | Lincoln ParkChicago, IL | $485,000 |
| 5 | Lynwood villageIL | $195,900 |
| 6 | Riverside villageIL | $471,100 |
| 7 | Lake Villa villageIL | $309,400 |
| 8 | Bethalto villageIL | $156,300 |
| 9 | Willowbrook villageIL | $347,200 |
| 10 | RochelleIL | $138,800 |
| 11 | Flossmoor villageIL | $293,400 |
| 12 | Hawthorn Woods villageIL | $580,400 |
| 13 | Savoy villageIL | $260,800 |
| 14 | Glen Carbon villageIL | $272,000 |
| 15 | Schiller Park villageIL | $269,700 |
Detailed Neighborhood Profiles
Home Value: $365,000
Rent: $2,391/mo
Affordability: 181
Population: 42,298
Walk Score: 100/100
Home Value: $425,000
Rent: $2,626/mo
Affordability: 109
Population: 26,500
Walk Score: 97/100
Home Value: $275,000
Rent: $1,426/mo
Affordability: 102
Population: 29,456
Walk Score: 93/100
4
Home Value: $485,000
Rent: $2,873/mo
Affordability: 62
Population: 64,320
Walk Score: 96/100
5
Home Value: $195,900
Rent: $1,163/mo
Affordability: 221
Population: 9,087
Walk Score: 0/100
6
Home Value: $471,100
Rent: $1,163/mo
Affordability: 221
Population: 9,225
Walk Score: 0/100
7
Home Value: $309,400
Rent: $1,163/mo
Affordability: 221
Population: 8,701
Walk Score: 0/100
8
Home Value: $156,300
Rent: $1,163/mo
Affordability: 221
Population: 9,281
Walk Score: 0/100
9
Home Value: $347,200
Rent: $1,163/mo
Affordability: 221
Population: 9,177
Walk Score: 0/100
10
Home Value: $138,800
Rent: $1,163/mo
Affordability: 221
Population: 9,417
Walk Score: 0/100
11
Home Value: $293,400
Rent: $1,163/mo
Affordability: 221
Population: 9,405
Walk Score: 0/100
12
Home Value: $580,400
Rent: $1,163/mo
Affordability: 221
Population: 9,111
Walk Score: 0/100
13
Home Value: $260,800
Rent: $1,163/mo
Affordability: 221
Population: 8,682
Walk Score: 0/100
14
Home Value: $272,000
Rent: $1,354/mo
Affordability: 218
Population: 13,654
Walk Score: 0/100
15
Home Value: $269,700
Rent: $1,354/mo
Affordability: 218
Population: 11,600
Walk Score: 0/100
Frequently Asked Questions About Affordability in Chicago
What is the most affordable neighborhood in Chicago, IL?▾
Based on 2026 data, The Loop is the most affordable neighborhood in Chicago with a median home value of $365,000. Kurby analyzed 15 neighborhoods in the Chicago area to compile these rankings.
What is the median home price in Chicago, IL?▾
The median home price in Chicago is $270,000, which is 4% below nat'l avg. The national median home value is $281,900 (Source: Kurby, 2026).
Is Chicago affordable compared to the national average?▾
Chicago has an affordability index of 181, which means housing is more affordable than the national baseline of 100. An index above 100 indicates that a median-income household can afford a median-priced home in the area.
What is the average rent in Chicago, IL?▾
The median monthly rent in Chicago is $2,391. This is 106% above nat'l avg. The national median rent is $1,163/month (Source: Kurby, 2026).
What is the median household income in Chicago?▾
The median household income in Chicago is $62,097 compared to the national median of $74,580. This metric is important for understanding housing affordability in relation to local earning power (Source: Kurby, 2026).
How many neighborhoods in Chicago are below the national average home price?▾
7 out of 15 ranked neighborhoods in Chicago have a median home value below the national average of $281,900. The most affordable is Hyde Park at $275,000 (Source: Kurby, 2026).