Market Overview
Home Prices in Evanston, IL
The median home value in Evanston, IL is $496,114 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 7.7% compared to a year ago and up 2.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Evanston are priced21% above average. Evanston is part of the Chicago-Naperville-Elgin, IL-IN-WI metro area.
Over the past five years, Evanston home values have risen by approximately23.0%, reflecting strong long-term appreciation in this market.
Price History
Evanston Home Price Trend
City Comparison
Evanston vs. National Median
At $496,114, homes in Evanston cost 21% above the national median of $410,000. Buyers in Evanston should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Evanston?
20% Down Payment
$99,223
on $496,114
Monthly P&I
$2,587/mo
30-yr @ 6.8%
Total Monthly Est.
~$3,285/mo
incl. taxes & insurance
Income Needed
$131,400
gross annual (30% rule)
10% Down Option
$49,611
+ PMI applies
Loan Amount (20% dn)
$396,891
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 Evanston, IL?
The median home value in Evanston is $496,114 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 7.7% year-over-year.
How much have home prices changed in Evanston?
Over the past year, home values in Evanston have increased by 7.7%. Over five years, prices have risen approximately 23.0%.
How much do I need to earn to buy a home in Evanston?
To comfortably afford the median home price of $496,114 with a 20% down payment ($99,223) at today's rates (6.8%), you'd need a gross annual income of approximately $131,400. This assumes keeping total housing costs at or below 30% of gross income.
How does Evanston compare to the national average home price?
The national median home value is approximately $410,000. At $496,114, homes in Evanston are 21% above the national average.
What metro area is Evanston part of?
Evanston is part of the Chicago-Naperville-Elgin, IL-IN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.