Market Overview
Home Prices in North Chicago, IL
The median home value in North Chicago, IL is $224,602 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 7% compared to a year ago and up 6.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in North Chicago are priced45% below average. North Chicago is part of the Chicago-Naperville-Elgin, IL-IN-WI metro area.
Over the past five years, North Chicago home values have risen by approximately48.2%, reflecting strong long-term appreciation in this market.
Price History
North Chicago Home Price Trend
City Comparison
North Chicago vs. National Median
At $224,602, homes in North Chicago cost 45% below the national median of $410,000. This makes North Chicago a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in North Chicago?
20% Down Payment
$44,920
on $224,602
Monthly P&I
$1,171/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,487/mo
incl. taxes & insurance
Income Needed
$59,480
gross annual (30% rule)
10% Down Option
$22,460
+ PMI applies
Loan Amount (20% dn)
$179,682
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 North Chicago, IL?
The median home value in North Chicago is $224,602 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 7% year-over-year.
How much have home prices changed in North Chicago?
Over the past year, home values in North Chicago have increased by 7%. Over five years, prices have risen approximately 48.2%.
How much do I need to earn to buy a home in North Chicago?
To comfortably afford the median home price of $224,602 with a 20% down payment ($44,920) at today's rates (6.8%), you'd need a gross annual income of approximately $59,480. This assumes keeping total housing costs at or below 30% of gross income.
How does North Chicago compare to the national average home price?
The national median home value is approximately $410,000. At $224,602, homes in North Chicago are 45% below the national average.
What metro area is North Chicago part of?
North Chicago is part of the Chicago-Naperville-Elgin, IL-IN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.