Chicago, IL 60642 Real Estate Market Report

ZIP Code: 60642
Report Date: May 2026
Market Temperature: NEUTRAL
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.

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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.

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Market Metrics

Note: 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.

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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.

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Property Taxes

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Liquidity & Velocity

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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 60642 are 6.5%, which is 0.4% higher than the 6.1% average observed when typical loans in this area originated in early 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. $821,950 is the median sold price and serves as the primary indicator of recent transaction value in 60642; with a market temperature described as neutral, this median reflects measured price appreciation rather than abrupt re-pricing.

2. The neighborhood shows a up price year-over-year trend while the median price per square foot stands at $388, suggesting buyers are paying premium per area and that pricing remains supported by recent closed transactions.

3. Sales velocity appears slow based on the median days on market of 394, which may indicate longer negotiation cycles or buyer selectivity; coupled with rising rents, this points to a more deliberate sales process rather than immediate distress.

4. Rent fundamentals are strengthening—$2,799 median market rent and a up rent year-over-year trend—while financing pressure is meaningful: elevated interest rate pressure is noted with current 30-year fixed mortgage rates in 60642 at 6.5%, a rise versus the earlier average of 6.1%, which may temper buyer purchasing power and lengthen time-to-contract.

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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.

Chicago, IL 60642 Real Estate Market Report

ZIP Code: 60642
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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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.

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Market Metrics

Note: 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.

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Rental Market

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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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 60642 are 6.5%, which is 0.4% higher than the 6.1% average observed when typical loans in this area originated in early 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The primary market value indicator is the median sold price of $541,000, which reflects recent transaction activity and suggests a market value level for SFR and condominium properties in 60642; representative recent sale may be used by appraisers and investors when triangulating comps.

2. There is a notable gap between the median listing price of $409,000 and the median sold price of $541,000, which may indicate pricing friction or sample mismatch between asking and realized values; pricing gap suggests sellers or listing samples are not fully aligned with final sale levels.

3. Market velocity appears slow based on a median days on market of 288, which signals extended time-to-contract and slower sales velocity relative to typical urban markets; slower transaction volume may require longer marketing windows or price flexibility for sellers.

4. Rental fundamentals show strength with a median market rent of $3,515 and a rent year-over-year trend that is up, supporting investor interest in holding units or converting supply to long-term rental use where zoning and building type permit.

5. Broader market context shows the price year-over-year trend is up while market temperature is neutral; however, interest rate pressure is elevated and Current 30-year fixed mortgage rates in Chicago 60642 are 6.5%, which is 0.4% higher than the 6.1% average observed when typical loans in this area originated in early 2026 — this combination suggests price resilience but constrained financing tailwinds for some buyers.

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Notable Properties

The following 1 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.