The story of this market
The typical home in Elgin, Illinois sells for about $338,000, or $213 per square foot.
Prices are up +3.3% from a year ago, so sellers still have some momentum. Homes take about 49 days to sell. HUD's fair market rent for a two-bedroom is $1,361 a month.
Monthly price momentum
Home values since 2015
+5.4%
IL · past 12 months
Freddie Mac House Price Index, single-family homes, monthly through 2026-08. Each line starts at 100 in January 2015, so a reading of 180 means prices are up 80% since then.
Elgin, Illinois
The Elgin housing market is showing signs of moderate competitiveness with a median sale price of $338,000, reflecting a 3.3% year-over-year increase. Market activity is driven by a steady demand for single-family homes and a stable local economy, though inventory constraints remain a factor. Overall, the market remains balanced as it continues to attract interest from both local buyers and those relocating within the Chicago metro area.
No ARED county foreclosure postings attributed to Elgin yet — the verified ledger covers every county the foreclosure ingest has read, attributed by published city area. Key-figure check: median price corroborated by the published ten-year series (2025) (within 12.5%).
Deterministic aggregate of 3 researched ZIP reports of 5 — sales_count-weighted (population fallback); per point, children lacking the value or its weight are excluded. Tax rates, sentiment and context notes are tier-native and never roll.
Median prices moved up 4.0% year over year.
Homes spend a median of 61 days on market with 0.0 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 99.82% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) — a stable, low-distress profile.
- Slick City Action Park4.717.1 mi
- Santa’s Village Amusement & Water Park4.54 mi
- Dave & Buster's Rosemont4.321.6 mi
- Activate Games4.920.8 mi
- K1 Speed Addison4.314.1 mi
- Allstate Arena4.320.4 mi
- Donald E. Stephens Convention Center4.521.9 mi
- Topgolf Schaumburg4.411.8 mi
- Medieval Times Dinner & Tournament4.710.8 mi
- Topgolf Naperville4.416.2 mi
- Medieval Times Dinner & Tournament4.710.8 mi
- AMC South Barrington 244.37.3 mi
- LEGOLAND Discovery Center Chicago3.912.8 mi
- Santa’s Village Amusement & Water Park4.54 mi
- AMC Streets of Woodfield 204.212.7 mi
- NOW Arena4.44.3 mi
- Volo Museum4.721 mi
- Cantigny Park4.814.1 mi
- Illinois Railway Museum4.718.4 mi
- DuPage Children's Museum4.419.1 mi
- Olympic Park4.612.7 mi
- Cantigny Park4.814.1 mi
- Bison's Bluff Nature Playground4.711.8 mi
- Busse Woods4.714.2 mi
- Lippold Park4.515.1 mi
- Fox 14 Marina4.59.4 mi
- Topgolf Schaumburg4.411.8 mi
- Villa Olivia4.13.6 mi
- St. Andrews Golf and Country Club4.38.7 mi
- Cantigny Golf4.714.6 mi
- Makray Memorial Golf Club4.511.6 mi
- Woodfield Mall4.512.6 mi
- Goebbert's Farm - South Barrington4.36.4 mi
- Macy's4.212.7 mi
- Meijer4.314.7 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area ranked by popularity within the radius shown.
The amenity base that shapes daily life and property demand in this city — what residents actually live with, and what the pipeline is adding.
A scenic multi-use trail system that runs along the Fox River, providing significant recreational value and connectivity for residents.
A major cultural anchor in downtown Elgin that hosts a variety of performances, concerts, and community events, bolstering local property demand.
A private golf facility that serves as a significant recreational amenity and contributes to the prestige of the surrounding residential areas.
A major regional medical center that serves as a critical anchor for healthcare services and employment in the city.
A key healthcare provider in the city, contributing to the local economy and providing essential services to the community.
Elgin is well-suited for family buyers and commuters seeking a balance between affordability and access to the broader Chicago metropolitan area. The city offers a robust inventory of single-family homes and a stable job market, making it an attractive option for those looking for long-term value. Its mix of urban amenities and suburban character also appeals to downsizers and renters who prioritize community connectivity.
Elgin is well-positioned within the Chicago metropolitan area, benefiting from established highway corridors and public transit infrastructure that facilitate commuting. The city is actively updating its micromobility rules to integrate modern transportation options like e-bikes and e-scooters into its transit network.
The rental market in Elgin is characterized by a median gross rent of $1,361, reflecting a stable demand environment supported by the city's diverse employment base. Vacancy pressure remains moderate as the city continues to attract a mix of commuters and local workers. Investor interest is present, though the market is primarily driven by long-term residential needs rather than short-term rental speculation.
Elgin maintains a diverse economy with a strong industrial and commercial base, supported by major employers in healthcare and manufacturing. The city's job market is noted for its stability and alignment with other medium-sized cities in the region, providing a solid foundation for economic growth.
The city is focused on strategic infill development, with recent initiatives aiming to add hundreds of new homes annually through residential overlays and by-right development in commercial districts. These efforts are designed to bring residents closer to jobs and amenities, enhancing the city's long-term growth trajectory.
Property owners in Elgin are subject to various special districts, including school, park, and library districts, which are typical for Illinois municipalities and impact the overall tax burden on residential parcels.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Illinois) — Property Tax Assessment (Fair Cash Value): Property is assessed at 33 1/3% of its fair cash value. The tax bill is calculated by multiplying the equalized assessed value (EAV) by the aggregate tax rate of the local taxing districts.
Data retrieved from U.S. Census Bureau QuickFacts.
No public schools report a street address in this area. Source: NCES EDGE public school locations 2023-24.