Market Overview
Home Prices in Morton Grove, IL
The median home value in Morton Grove, IL is $454,598 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 7.6% compared to a year ago and up 5.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Morton Grove are priced11% above average. Morton Grove is part of the Chicago-Naperville-Elgin, IL-IN-WI metro area.
Over the past five years, Morton Grove home values have risen by approximately35.7%, reflecting strong long-term appreciation in this market.
Price History
Morton Grove Home Price Trend
City Comparison
Morton Grove vs. National Median
At $454,598, homes in Morton Grove cost 11% above the national median of $410,000. Buyers in Morton Grove should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Morton Grove?
20% Down Payment
$90,920
on $454,598
Monthly P&I
$2,371/mo
30-yr @ 6.8%
Total Monthly Est.
~$3,011/mo
incl. taxes & insurance
Income Needed
$120,440
gross annual (30% rule)
10% Down Option
$45,460
+ PMI applies
Loan Amount (20% dn)
$363,678
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 Morton Grove, IL?
The median home value in Morton Grove is $454,598 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 7.6% year-over-year.
How much have home prices changed in Morton Grove?
Over the past year, home values in Morton Grove have increased by 7.6%. Over five years, prices have risen approximately 35.7%.
How much do I need to earn to buy a home in Morton Grove?
To comfortably afford the median home price of $454,598 with a 20% down payment ($90,920) at today's rates (6.8%), you'd need a gross annual income of approximately $120,440. This assumes keeping total housing costs at or below 30% of gross income.
How does Morton Grove compare to the national average home price?
The national median home value is approximately $410,000. At $454,598, homes in Morton Grove are 11% above the national average.
What metro area is Morton Grove part of?
Morton Grove is part of the Chicago-Naperville-Elgin, IL-IN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.