Market Overview
Home Prices in Riverwoods, IL
The median home value in Riverwoods, IL is $1,011,228 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 7% compared to a year ago and up 6.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Riverwoods are priced147% above average. Riverwoods is part of the Chicago-Naperville-Elgin, IL-IN-WI metro area.
Over the past five years, Riverwoods home values have risen by approximately41.4%, reflecting strong long-term appreciation in this market.
Price History
Riverwoods Home Price Trend
City Comparison
Riverwoods vs. National Median
At $1,011,228, homes in Riverwoods cost 147% above the national median of $410,000. Buyers in Riverwoods should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Riverwoods?
20% Down Payment
$202,246
on $1,011,228
Monthly P&I
$5,274/mo
30-yr @ 6.8%
Total Monthly Est.
~$6,698/mo
incl. taxes & insurance
Income Needed
$267,920
gross annual (30% rule)
10% Down Option
$101,123
+ PMI applies
Loan Amount (20% dn)
$808,982
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 Riverwoods, IL?
The median home value in Riverwoods is $1,011,228 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 Riverwoods?
Over the past year, home values in Riverwoods have increased by 7%. Over five years, prices have risen approximately 41.4%.
How much do I need to earn to buy a home in Riverwoods?
To comfortably afford the median home price of $1,011,228 with a 20% down payment ($202,246) at today's rates (6.8%), you'd need a gross annual income of approximately $267,920. This assumes keeping total housing costs at or below 30% of gross income.
How does Riverwoods compare to the national average home price?
The national median home value is approximately $410,000. At $1,011,228, homes in Riverwoods are 147% above the national average.
What metro area is Riverwoods part of?
Riverwoods is part of the Chicago-Naperville-Elgin, IL-IN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.