Market Overview
Home Prices in Calumet Park, IL
The median home value in Calumet Park, IL is $172,449 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.9% compared to a year ago and down 4.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Calumet Park are priced58% below average. Calumet Park is part of the Chicago-Naperville-Elgin, IL-IN-WI metro area.
Over the past five years, Calumet Park home values have risen by approximately15.4%, reflecting steady appreciation in this market.
Price History
Calumet Park Home Price Trend
City Comparison
Calumet Park vs. National Median
At $172,449, homes in Calumet Park cost 58% below the national median of $410,000. This makes Calumet Park a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Calumet Park?
20% Down Payment
$34,490
on $172,449
Monthly P&I
$899/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,142/mo
incl. taxes & insurance
Income Needed
$45,680
gross annual (30% rule)
10% Down Option
$17,245
+ PMI applies
Loan Amount (20% dn)
$137,959
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 Calumet Park, IL?
The median home value in Calumet Park is $172,449 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.9% year-over-year.
How much have home prices changed in Calumet Park?
Over the past year, home values in Calumet Park have increased by 4.9%. Over five years, prices have risen approximately 15.4%.
How much do I need to earn to buy a home in Calumet Park?
To comfortably afford the median home price of $172,449 with a 20% down payment ($34,490) at today's rates (6.8%), you'd need a gross annual income of approximately $45,680. This assumes keeping total housing costs at or below 30% of gross income.
How does Calumet Park compare to the national average home price?
The national median home value is approximately $410,000. At $172,449, homes in Calumet Park are 58% below the national average.
What metro area is Calumet Park part of?
Calumet Park is part of the Chicago-Naperville-Elgin, IL-IN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.