Market Overview
Home Prices in Alsip, IL
The median home value in Alsip, IL is $275,919 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 6.1% compared to a year ago and up 0.9% from two years prior.
Compared to the U.S. national median of $410,000, homes in Alsip are priced33% below average. Alsip is part of the Chicago-Naperville-Elgin, IL-IN-WI metro area.
Over the past five years, Alsip home values have risen by approximately27.4%, reflecting strong long-term appreciation in this market.
Price History
Alsip Home Price Trend
City Comparison
Alsip vs. National Median
At $275,919, homes in Alsip cost 33% below the national median of $410,000. This makes Alsip a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Alsip?
20% Down Payment
$55,184
on $275,919
Monthly P&I
$1,439/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,828/mo
incl. taxes & insurance
Income Needed
$73,120
gross annual (30% rule)
10% Down Option
$27,592
+ PMI applies
Loan Amount (20% dn)
$220,735
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Alsip, IL?
The median home value in Alsip is $275,919 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 6.1% year-over-year.
How much have home prices changed in Alsip?
Over the past year, home values in Alsip have increased by 6.1%. Over five years, prices have risen approximately 27.4%.
How much do I need to earn to buy a home in Alsip?
To comfortably afford the median home price of $275,919 with a 20% down payment ($55,184) at today's rates (6.8%), you'd need a gross annual income of approximately $73,120. This assumes keeping total housing costs at or below 30% of gross income.
How does Alsip compare to the national average home price?
The national median home value is approximately $410,000. At $275,919, homes in Alsip are 33% below the national average.
What metro area is Alsip part of?
Alsip is part of the Chicago-Naperville-Elgin, IL-IN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.