Market Snapshot
- Median rent
- $2,856/mo
- Days on market
- 259 days
The median market rent in Chicago, IL ZIP 60642 is $2,856/month as of June 2026.
The median days on market in Chicago, IL ZIP 60642 is 259 days as of June 2026. The market is currently neutral.
Chicago, IL 60642 Real Estate Market Report
ZIP Code: 60642
Report Date: June 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
Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.
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 are approximately 6.6% as of June 2026, reflecting a market environment where rates have remained elevated above 6% throughout the year.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
- $602,500 is the neighborhood's median sold price and therefore the primary indicator of current market value based on recent transactions; the price year-over-year trend is up, suggesting ongoing appreciation but at a moderated pace.
- The market shows slower transaction velocity as evidenced by a median days on market of 259, which may indicate pricing friction or a longer decision cycle for buyers rather than acute market weakness.
- Valuation context is supported by a median price per square foot of $393, which frames seller expectations and suggests that price sensitivity will be driven at the unit-area level—pricing adjustments should be targeted at $/sqft performance.
- Rental market signals remain constructive with a median market rent of $2,856 and rent year-over-year trend up; however, elevated interest rate pressure (current 30-year fixed mortgage rates around 6.6%) is a headwind that may slow purchase demand and sustain elevated interest rate pressure.
Notable Properties
The following 8 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 above market average
Sold above market average
Sold at market average
Sold below 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.
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.53% rate, 1.5% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 6/1/2026
Get personalized market intelligence
Explore real-time property analysis in Chicago, IL: valuations, rental estimates, costs, and pro-forma projections.