Market Snapshot
- Median listing price
- $315K
- Median rent
- $1,800/mo
- Days on market
- 8 days
- Gross rental yield
- 6.86%
The median listing price in Chicago, IL ZIP 60638 is $315,000 as of October 2026.
The median market rent in Chicago, IL ZIP 60638 is $1,800/month as of October 2026.
The median days on market in Chicago, IL ZIP 60638 is 8 days as of October 2026. The market is currently neutral.
At a median list price of $315,000 and a median rent of $1,800/month, the gross rental yield in Chicago, IL ZIP 60638 is 6.86% as of October 2026.
Chicago, IL 60638 Real Estate Market Report
ZIP Code: 60638
Report Date: October 2026
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.
Market Overview
This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Market Metrics
The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Rental Market
Property Taxes
Liquidity & Velocity
Market Trends & Context
Understanding Market Temperature
A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.
Current Mortgage Rate Context
Market-level mortgage rate comparison for this area:
Current 30-year fixed mortgage rates in Chicago 60638 are 7.64%, reflecting a high-rate environment where property owners who secured loans earlier in 2026 likely locked in more favorable terms.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
- The neighborhood's primary market signal is the median sold price of 318,000, which indicates recent transaction-level value and suggests pricing stability relative to asking levels in the same sample.
- Comparing the median sold price (318,000) to the median listing price (315,000) shows modest asking/sale alignment and may indicate balanced seller expectations amid selective buyer behavior.
- Market velocity appears constructive: the median sold price of 318,000 occurred alongside a short median days on market of 8, which suggests relatively efficient closings and upward year-over-year price momentum (price year-over-year trend: up).
- Interest-rate conditions are a notable headwind—interest rate pressure is reported as elevated and current 30-year fixed mortgage rates are 7.64%—which, combined with a neutral market temperature, may constrain some buyers and suggests pricing friction that sellers should factor into offers and concession strategies.
Notable Properties
The following 7 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold at market average
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Below-market acquisition. Investor purchase with value-add potential through renovation.
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 7.40% rate, 1.3% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 10/10/2026
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